Board of Directors Regular Meeting Agenda


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Meeting Date: 10/16/2014  

SUBJECT MATTER:
Receive, consider and act upon a renewal of the Service Agreement with The Woodlands Area Economic Development Partnership;
FISCAL IMPACT:
$175,000 for The Woodlands Area Economic Development Partnership
$20,000 for Opportunity Houston
BACKGROUND:
The Woodlands Township partners with The Woodlands Area Economic Development Partnership to recruit new business and to retain existing business in The Woodlands. This funding positions the Partnership to retain seasoned professionals to implement economic development programs. By establishing and maintaining close working relationships with other groups in the South Montgomery County and Houston metropolitan area, the Township will be in a position to have first hand knowledge of prospects considering relocation to the area.

The Service Agreement spells out the deliverables received from The Woodlands Area Economic Development Partnership to The Woodlands Township.

In addition it is recommended the Greater Houston Partnership Opportunity Houston program funding be handled by The Woodlands Area EDP. Opportunity Houston is a designed five year program to market the Houston region, including The Woodlands, to a national audience. Opportunity Houston targets leads for the Houston region to create regional jobs and attract capital investment by targeting sectors such as aviation and aerospace, energy and petrochemical, medical and biotechnology, information technology, and nanotechnology. Leads generated will be handed off to The Woodlands EDP for development.
RECOMMENDATION:
Approve renewal of the  Service Agreement with The Woodlands Area Economic Development Partnership at a level of $175,000 and participation of Opportunity Houston through the EDP at $20,000 for the year 2015.
Attachments
South Montgomery County Woodlands Area Chamber EDP
EDP Report


    

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