2017

By the Numbers

19

Expansions / Announcements

1056

New Job Opportunities

$494M

Total Investment

Business Development


Attraction, expansion and retention announcements are the ultimate goal at SEDA. Often times they take a few short months. Others can take years of groundwork.

In 2017, thousands of new job opportunities were created. Millions of dollars invested. Countless square feet now occupied and productive. These are the cornerstones of successful business development.

WTC Savannah



WTCSav Secretaries of Agriculture
When U.S. Secretary of Agriculture Sonny Perdue wanted to host his Canadian and Mexican counterparts, he looked to his home state, Georgia and the city of Savannah for the trilateral meeting.

Held over a three-day period, World Trade Center Savannah was tapped to work with the U. S. Department of Agriculture to coordinate the visit.

In addition to touring the Port of Savannah and regional farms, Secretary Perdue, Canada’s Minister of Agriculture and Agri-Food Lawrence MacAulay and Mexico’s Minister of the Secretariat of Agriculture, Livestock, Rural Development, Fisheries and Food Josè Eduardo Calzada Rovirosa participated in a luncheon and panel discussion hosted by WTCSav.

Titled “Partners for Agriculture in North America” and moderated by WTCSav Vice President Brynn Grant, the discussion centered on the common threads each country shares and the opportunities to work together.

In a press release, Secretary Perdue said, “Our three nations are connected not only geographically, but through our deeply integrated agricultural markets. Our trading relationship is vital to the economies – and the people – of our respective countries. We are working together to support and create good jobs in all three countries. We share a commitment to keeping our markets open and transparent so that trade can continue to grow. That mutual commitment was reaffirmed in our discussions this week.”

Members of the delegation at the panel discussion, “Partners of Agriculture in North America.”

"When U.S. Secretary of Agriculture Sonny Perdue decided to host a trilateral summit... Savannah was the perfect backdrop... SEDA and WTCSav are model partners."

Chris Young, USDA Deputy Chief of Staff

WTCSav Hosts Guests From Ireland for Regional Showcase

Members of the Irish delegation

Members of the Irish delegation visited several manufacturing and warehouse distribution facilities.

On April 3, WTCSav in partnership with Georgia Power, welcomed a delegation from Ireland that included members of the Wexford County Council, the Wexford Chamber of Commerce and the John F. Kennedy Trust and Enterprise Ireland.

The event, which coincided with the Savannah Music Festival, served as an opportunity to highlight the assets and business opportunities that exist in the Coastal Georgia region.

Ireland and Savannah share more than just strong trade relations, they also have a deep history with one another. Dr. Howard Keeley, Director of the Center for Irish Research and Teaching at Georgia Southern University, explained to the delegation that perhaps the largest percentage of Savannah’s ancestry were immigrants from Wexford County.

This sentiment lives on today as many local economic development authorities stepped in to showcase the benefits and opportunities of the region, detailing the accessibility, talent, reasonable cost of doing business, and the many industries and businesses already flourishing in Georgia’s trade climate.

The delegation visited SCAD, the Georgia Ports Authority and held business-to-business matchmaking meetings for the participating delegates, as well as networking opportunities, allowing small and mid-sized businesses in Coastal Georgia to make lasting connections with the delegation.

WTCSav Leads Delegation to Germany
Nov. 6-10, WTCSav led a delegation of regional economic development executives to Bremen, Halle (Saale) and Munich, Germany for an unprecedented Regional Business Development Initiative. The group of 11 pitched the qualities of Coastal Georgia, building relationships with businesses and officials in Germany, one of the state’s largest trade partners.

After identifying Germany as a target country, one of the best potential opportunities for investment and trade, WTCSav has been working to expand these prospects for Coastal Georgia by getting the whole region involved.

“This trip is taking our collective efforts as a region, as a coast to the next level,” said Trip Tollison, President and CEO of the SEDA and WTCSav. “We can’t market and sell our organizations, our areas and our communities while sitting in our communities. It’s just not going to happen.”

The delegation visited with small-to-medium sized German enterprises that have an interest in exploring opportunities to expand into the United States to familiarize those companies with the many attributes of the Coastal Georgia region and how it can serve as an ideal gateway into the U.S. market.

“When WTCSav suggested a Regional Trade Mission to Germany, my reaction was a hopeful one. After participating in the mission, I am confident in saying that my hope was well placed, said Benjy Thompson, Chief Executive Officer, Development Authority of Bulloch County. "The WTCSav team did an outstanding job of organizing the trip, facilitating business development opportunities, and taking care of the group. This trip is exactly the kind of activity that will contribute to the success of the World Trade Center Savannah Development Authority partners and benefit our entire region.”

Germany Trade Mission

Nine economic development authorities represented the region during the Germany Trade Mission.

D.J. Powers Receives WTCSav International Business of the Year Award

D.J. Powers

WTCSav International Business of the Year award recipients, D.J. Powers.

On Nov 2, D.J. Powers was named the WTCSav International Business of the Year at the Savannah Area Chamber of Commerce Business Awards Banquet.

This award recognizes companies that excel in international trade and acknowledges the importance of trade to the Savannah region’s economy. The WTCSav International Business of the Year Award is presented to encourage and recognize exemplary corporate leadership for international business or trade that advances relations between the U.S. and other nations as well as creates quality jobs in the Savannah region.

Established in 1930, D. J. Powers is one of Georgia's first freight forwarders and customs brokerage firms. It is also one of the fastest growing logistics companies in the state. Headquartered in Savannah, Georgia, D. J. Powers operates seven U.S. offices, four overseas offices in Rotterdam, Netherlands; Ningbo, China; Shanghai, China; and Shenzhen, China, along with having a network of over 175 affiliated offices worldwide. With a global reach and world-class IT capabilities, D. J. Powers provides the ability for customers and potential customers to better compete in international markets.

D. J. Powers is the ideal recipient of the WTCSav International Business of Year Award due to their role in helping make the Savannah region an even larger participant in international commerce. With over 85 years of logistics and compliance expertise, D. J. Powers has been able to have a sustained local and global impact while continually remaining true to their core values. D. J. Powers’ philosophy is they are only successful if their customers are successful, so they constantly strive to ensure their customers continue to grow and expand their international trade.

Accountants/CPA Firms
Advertising, Marketing and Public Relations
Contract Furnishings/ Interior Design
WTCSav Financials Actual Fiscal 2017
Accrual Revenue covered 71% of the total $538,922 expenses (including allocated expenses). Fiscal 2016: Accrual Revenue covered 51% of the total $677,184 expenses (including allocated expenses).

The assumptions are: Direct Allocation includes 2 direct payroll, taxes and pension, insurance benefits, and telephone expenses. Indirect Allocation includes:

  • 75% of the Manager of Research and Trade Development
  • 30% of Vice President
  • 10% of President, Marketing, and Finance
  • Automobile; office supplies/expenses; and office space expenses.
Since Inception
WTCSav 2017 2016 2015 2014 2013 2012 2011
Revenue $381,704 $346,953 $333,915 $276,349 $202,344 $8,636 $0
Expenses $212,376 $307,756 $245,747 $240,670 $213,183 $66,486 $308,630
Net Income before Allocations $169,328 $39,197 $88,168 $35,680 ($10,839) ($57,850) ($308,630)
Allocated Expenses $326,545 $369,428 $397,499 $372,415 $360,231 $0 $0
Net Income /(Loss) after Allocations ($157,217) ($330,231) ($309,331) ($336,735) ($371,070) ($57,850) ($308,630)
Accrual Income coverage 70.83% 51.23% 51.91% 45.08% 35.29% 12.99% 0.00%
Accrual Income coverage excluding SWTCI 71.63% 58.11% 56.53% 51.96% 37.90% 12.99% %0.00

Letters


Stephen S. Green

Chairman and CEO
Stephen Green Properties, Inc

Hugh "Trip" Tollison

SEDA President & CEO

Scott Center

Chairman, World Trade Center Savannah
National Office Systems

The Seda Team

The SEDA Board of Directors

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Left to Right Back Row: Bill Hubbard, Willie Seymore, Frank Macgill, Eric Johnson, Chad Barrow, Kevin Jackson, Monica Mastrianni, Nina Gompels, Scott Center
Second Row: Ken Bianco, David Paddison, Greg Parker, Eli Karatassos, Cathy Hill, Shevon Carr
Front Row: Robert James, Stephen Green

2017 SEDA Board of Directors
  • Stephen S. GreenChairman
    Stephen Green Properties, Inc
  • Kevin JacksonVice Chairman
    Envirovac
  • John ColemanSecretary / Treasurer
    Bonitz of Georgia
  • Bill Hubbard
  • Cathy Hill
  • Chad Barrow
  • David Paddison
  • Frank Macgill
  • Greg Parker
  • John Paul Rowan
  • Loretta Cockrum
  • Monica Mastrianni
  • Nina Gompels
  • Paul P. Hinchey
  • Reed Dulany
  • Robert Chu
  • Robert E. James
  • Trey Cook
  • Willie J Seymore

The SEDA Advisory Council

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2017 SEDA Advisory Council
  • Jennifer Abshire
  • Eugene "Bruce" Adams
  • Dr. Nelson Baker
  • Chad Barrow
  • Laura Lee Bocade
  • Austen Carroll
  • John Cay
  • Robert Chu
  • Loretta Cockrum
  • John Coleman
  • Trey Cook
  • Stephen Coomer
  • Ricky DeLoach
  • Dr. Cheryl Dozier
  • Reed Dulany
  • Andrew Ernst
  • Dick Estus
  • Danny Falligant
  • Kay Ford
  • Brian Foster
  • Nina Gompels
  • Stephen Green
  • Jimmy Gulle
  • Robert L. Harrison
  • Cathy Hill
  • Paul Hinchey
  • Bill Hubbard
  • Brett Hulme
  • Joe Ippolito
  • Kevin Jackson
  • Robert James
  • Bill Lattimore, Jr.
  • Pete Liakakis
  • Kathy Love
  • Griffith Lynch
  • Monica Mastrianni
  • Martin Miller
  • Sam McCachern
  • Mike McCarthy
  • Cliff McCurry
  • Frank McGill
  • David Paddison
  • Greg Parker
  • Mark Reavis
  • John Paul Rowan
  • Willie Seymore
  • Eric Winger

The SEDA Staff

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The SEDA Staff
  • Trip TollisonPresident and CEO SEDA and World Trade Center Savannah
  • Leigh AcevedoDirector of Business Retention
  • Cassie BeckwithMarketing and Public Relations Coordinator
  • Jen BonnettVice President of Innovation and Entrepreneurship
  • Jesse BynumManager of Research and Trade Development
  • Leia DedicDirector of Research and Grant Management
  • Jesse DillonBusiness Development Project Manager
  • Chrissy DriggersExecutive Assistant/Office Manager
  • Brynn GrantCOO, SEDA
    Vice President of World Trade Center Savannah
  • Angela HendrixDirector of Marketing and Public Relations
  • LeAndrea MikellPrograms and Marketing Coordinator
    World Trade Center Savannah
  • Casey PetersAdministrative Assistant
  • Leigh RyanDirector of Trade Services, World Trade Center Savannah
  • Mark SprostyVice President of Finance and Administration

The Financials


Independent Auditor’s Report

To the Board of Directors of
Savannah Economic Development Authority

We have audited the consolidated statements of net position of the Savannah Economic Development Authority (SEDA) and affiliates, as of December 31, 2017 and 2016, and the related consolidated statements of revenues, expenses, and changes in fund net position and of cash flows for the years then ended.

The accompanying condensed financial information of SEDA as of and for the years ended December 31, 2017 and 2016 is not a presentation in conformity with accounting principles generally accepted in the United States of America. Reading the condensed financial statements; therefore, is not a substitute for reading the audited financial statements of SEDA.

Management’s Responsibility
Management is responsible for the preparation and fair presentation of the consolidated financial statements.

Auditor’s Responsibility
Our responsibility is to express an opinion on the consolidated financial statements based on our audit.

Opinion
In our opinion, the accompanying condensed financial information is fairly stated, in all material respects, in relation to the portion of the basic financial statements from which it has been derived.

Other Matters
SEDA has not presented the management’s discussion and analysis that the Governmental Auditing Standards Board has determined is necessary to supplement, although not required to be a part of, the basic financial statements.


Holland, Henry & Bromley, LLP
Holland, Bromley, Barnhill & Brett, LLP
Savannah, Georgia
April 5, 2018


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FINANCIAL STATEMENT 2017

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Condensed Consolidated Statements of Net Position

December 31
Assets 2017 2016
Total Assets $42,213,231 $38,352,233
Cash and Cash Equivalents $4,182,552 $4,681,348
Investments $19,878,964 $15,626,836
Capital Assets - Net of Accumulated Depreciation $6,649,104 $6,944,378
Real Property Held for Sale or Development $9,465,940 $9,672,414
Other $2,036,671 $1,427,257
Deferred Outflows of Resources 2017 2016
$1,285,088 $1,372,707
Liabilities 2017 2016
Total Liabilities $7,115,088 $5,598,938
Current Liabilities $3,916,673 $2,218,524
Noncurrent Liabilities $3,198,415 $3,380,414
Deferred Inflows of Resources 2017 2016
$248,266 $242,173
Net Position 2017 2016
$36,134,965 $33,883,829

Condensed Consolidated Statements of Revenues, Expenses and Changes in Fund Net Position For the Years Ended December 31, 2017 and 2016

2017 2016
Total Net Position - Beginning of the Year $33,883,829 $31,901,392
Total Net Position - End of the Year $36,134,965 $33,883,829
Operating Revenues $7,351,552 $7,689,152
Operating Expenses ($6,397,163) ($6,397,914)
Nonoperating Revenues (Expenses) $1,296,747 $691,199
Net Income $2,251,136 $1,982,437