Economy & Jobs

New Job Creation Commitments

Below Target Below Target

188

via City Investments
Result for FY-2018

Below Target Below Target

Economy & Jobs

New Job Creation Commitments

Below Target Below Target

188

via City Investments
Result for FY-2018

Measure Description

This metric shows the number of jobs that businesses have contractually agreed to create in West Palm Beach through Economic Development investments by the City by fiscal year. These investments include building improvement grants and Qualified Target Industry grants administered by the State of Florida and matched by City dollars. Business recipients are contractually required by grant agreements to generate the new jobs in order to receive City assistance. This measure will be tracked and reported annually going forward.

Measure Importance

Job creation in the City of West Palm Beach means more opportunities for our residents. City leadership monitors job creation data as an indicator of business growth and as a factor that may positively influence property values.

Measure Chart

Explanation of Performance

The City has a target to create 300 jobs annually through economic development activities. In FY18, this target was not reached as several projects that applied for grants involved place making efforts (such as historic preservation improvements and street/pedestrian enhancements) which impact several businesses.  These investments have a long-term impact for businesses determining to relocate or stay in a location, but place making is not directly tied to job creation. For Fiscal Year 2018, a total of $405,000 was committed to eight business recipients that have agreed to create 188 jobs over the next five years. The job creation numbers do not account for ongoing job creation which occurs regularly by the private sector.
 

30 of the jobs will be created on Clematis Street along with 12 new businesses. These are the efforts of 12x12 project, a collaborative effort by the City, Community Redevelopment Agency, Downtown Development Authority, and the Knight Foundation.
 

Since 2014, the Mayor and Commission have prioritized business development in the City and have been aggressively pursuing economic development activities aligned with the Economic Development Strategy plan.
 

In recent years, job creation numbers have been healthy, due in part to a strong national economy and relocation of several businesses from the northeast. These businesses cite the positive business environment of West Palm Beach and the state of Florida, and the high quality of life offered by the City as reasons for their move.

Status Indicator Definitions
On Target: Meets or exceeds expected performance
Watch: Falls close to expected performance
Below Target: Does not meet expectation; being monitored for improvement
Other Data: Data gathering only, no target

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