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The Savannah Economic Development Authority was created by an act of the Georgia General Assembly in 1925 as the Savannah Port Authority. Since that time, there have been many changes in responsibilities, focus and leadership, not to mention in the name of the organization itself.
As a community that understands and appreciates history, we recognize the importance of every step that brought us here and every step forward.
Our most recent history has seen great advancement. Today, SEDA is focused, with defined target industries and an annual business plan. SEDA is proactive, metric driven. And we have become a leader in a collaborative effort, exploring new areas of economic impact.
We organized with our partners at the Savannah Area Chamber of Commerce and United Way of the Coastal Empire to conduct a baseline workforce development study and develop a snapshot of existing workforce programs that we are now using to define a strategy for the future.
We worked with business and elected leadership to secure needed investment for the development of competitive industrial property for major attraction projects through the renewed Special Purpose Local Option Tax.
In partnership with Gulfstream Aerospace, Great Dane, and Georgia Tech’s Savannah Campus, we have revitalized a vision for research, development and professional education at Technology Circle in Crossroads Business Center.
And for the first time ever, we helped to facilitate the location of a retail development that is investing $200 million and will employ 782 full time equivalent positions, contributing enormously to the economy, the quality of life and attractiveness of the region.
We have also seen the incredible growth of the World Trade Center Savannah through its offering of vital international education programs, business and trade services and exceeding nearly every goal set. With 11 economic development organizations as Founding Investors, it has truly become the meaningful regional economic development tool we envisioned.
SEDA and WTCSav are major forces. And everyone who serves on these boards considers it an honor. We love this City, the County and this region and we are working with partners to improve this place we call home for generations to come.
I am grateful for the privilege of having served as Chairman.
David E. Paddison, CPCU AFSB
Chairman
President, Seacrest Partners
SEDA’s purpose is to facilitate jobs and investment. We are happy to report that SEDA certainly fulfilled our requirements in 2013 by assisting in the creation of 1,353 job opportunities and securing $330 million in investment. In comparison to previous years, 2013 will go down as a great year for SEDA and the Savannah region. The staff is very fortunate to play a role in these efforts and looks forward to advancing SEDA’s mission for many years to come.
The theme of this year’s annual report reflects the new branding and logo that was developed in 2013 - Propelling Business. It's what we do. The way propellers have the power to move ships across oceans and aircraft across the sky, SEDA can advance business forward, propelling it to even greater success.
From the enhancements made at Technology Circle to completing our logo and branding project, SEDA was able to accomplish many goals. Second to job and investments, we are most proud of the fact that the voters of Savannah and Chatham County approved a ballot measure that will fund $15 to $30 million in future land development activity that SEDA can market to future prospects. We were also able to put several board resolutions in place that will drive our community to be more competitive.
And while they have only been up and running for two years, World Trade Center Savannah continued to chart their course in conducting 15 Global Education Programs, hosted 15 international delegations, planned three business development mission trips, added two new zones to Foreign Trade Zone and exceeded revenue projections by 130 percent.
As Bob Jepson states in SEDA’s new promotional video, Savannah’s business climate is “red hot” about where it is going. We hope that you are encouraged about our progress in 2013 and stand ready to join us as we take advantage of this momentum to propel business.
Sincerely,
Hugh “Trip” Tollison
President & CEO
World Trade Center Savannah marked two full years of operation as 2013 came to an end. Our team accomplished more than we believed possible in such a short period of time. The committee of board members and staff who led the study and effort to secure the WTC license knew we could do it, but we never envisioned that we could accomplish so much so soon.
We envisioned helping regional businesses grow internationally. Offering regular educational programs, research and trade services and business matchmaking, our team has supported dozens of businesses and hundreds of professionals in the area.
We envisioned identifying more international firms looking to establish operations in the US. Attraction leads have started to come through the efforts and activities of WTC Savannah and our team has organized several outgoing and incoming business development missions cultivating real trade and investment opportunities.
We envisioned WTC Savannah’s efforts generating revenue to help support itself. In 2013, partner revenue exceeded projections by 130 percent. And our intentions to identify other significant streams of revenue have materialized. First, the Savannah Airport Commission transferred the promotion and operation of FTZ 104 over to us and then the WTC Savannah and SEDA boards approved our decision to pursue becoming an EB5 regional center - a federal job creation and foreign investment program.
We envisioned creating a meaningful regional economic development structure. Before the end of 2013, we had two regional development authority partners. Now, born of the incredible groundwork laid over the first two years, we have 11 regional economic development partners so far in the first four months of 2014.
We envisioned serving as a clearinghouse for international business interests, events and delegations to maximize business opportunities and results. WTC Savannah has worked with our Founding Partner, the City of Savannah, and others, to host 208 delegates from 31 countries and invited established businesses to make connections as appropriate and beneficial.
We envisioned a dynamic intern program that would enhance both WTC Savannah and SEDA. Working closely with regional colleges and universities, WTC Savannah offers a very structured internship program that has already become invaluable to the work of SEDA and WTC Savannah in just over a year. But even more, the program provides each intern with meaningful professional experience, training and opportunity they could not easily get any other way.
I am proud to have served on the original committee that recommended the World Trade Center model to the SEDA board and honored to have served as the founding Chairman for the past two years. I cannot imagine what the future holds for this organization, but with the staff, interns and partners we have, I am confident that this venture will have a great impact on international trade and investment in this region.
Eric Johnson,
Chairman, World Trade Center Savannah
President, Hussey, Gay, Bell & DeYoung
Propelling Business is not a singular effort. But thanks to those who share our goals, bringing their visionary concepts and investment capital to the region, we have amassed numerous successes including the following, known simply as the SEDA Top 10:
1
Every dollar invested and every retained or new job that SEDA helped facilitate. Includes 1,353 job opportunities created, $330 million investment.
2
Creation of a $15-30 million land development fund for qualified economic development projects.
3
Enhancements for Technology Circle with the addition of Gulfstream University and Great Dane’s R & D campus.
4
Initialized SEDA's aerospace/aviation corridor efforts with several announcements including Southern Aviation Parts & Services (SAPS).
5
Adoption of board resolutions and comprehensive incentive policy that can propel Savannah/Chatham County to be more competitive.
6
Development of The Outlet Mall of Georgia.
7
WTC Savannah conducted 15 regional Global Education Programs, hosted 15 international delegations, planned 3 BDMs, added 2 new zones to FTZ and exceeded revenue projections by 130 percent.
8
Emerging Industries identifies 35 area start-up companies and introduced companies to venture capital and other investment capital partners.
9
New logo/branding and completion of SEDA’s marketing research project.
10
Ended 2013 with a $1.98 million surplus.
Each year SEDA sets target goals for what it hopes to achieve in the coming months. And though we set the bar high, we not only meet, but often exceed those targets. We do this by helping businesses with site selection, working on the strategic development of incentives packages, attracting new businesses through site visits and outreach, and serving as a unifying point of contact to set communication and progress in motion.
2013 was yet another year where both the number of expansions and announcements demonstrated the continued viability of our region. Those who do business here, choose to grow here. Those who explore new opportunities here, realize their potential here. And at SEDA we will continue to push these and all businesses forward for the ultimate benefit of our region.
Expansion/ Announcements
2013 Target
2013 Actual
New Jobs
2013 Target
2013 Actual
Capital Investment
2013 Target
2013 Actual
*Includes $200 million and 782 jobs (full-time equivalent) created by the Outlet Mall of Georgia Project.
New Projects
Client Visits
Local/Regional/State Networking and Outreach Opportunities
Consultant/Broker Outreach
Conferences/ Tradeshows
Total Investment
New Jobs
Office building lease secured
“...Gulfstream is a powerful economic engine for both local and state economies.”
- Larry Flynn, President, Gulfstream Aerospace
"Gulfstream's success is one hell of a story."
- Trip Tollison, SEDA President and CEO
In November 2010, Gulfstream Aerospace announced a seven-year, $500 millon Savannah expansion, which included the hiring of an additional 1,000 employees. As part of that seven-year plan, in January 2013 Gulfstream entered into a 12-year lease with North Point Real Estate for a 70,000 sq. ft. office building in the Crossroads Business Park. The search for the site began in the spring of 2012 and SEDA played a critical role in helping Gulfstream ultimately secure the new space including site selection, acquisition of additional land and lease support.
“Within the first two years of that seven-year period, Gulfstream has hired more than 1,695 new full-time employees in Savannah alone, nearly 700 more than what we originally estimated,” said Larry Flynn, president, Gulfstream. “We’ve also invested more than $175 million toward our $500 million commitment. This brings our total employment in Georgia to 8,580 and demonstrates that Gulfstream is a powerful economic engine for both local and state economies.”
The building is home to Gulfstream’s new Information Technology Center of Excellence for the internal Gulfstream IT team that supports the company’s worldwide IT infrastructure and business operations. At capacity, the facility will house more than 400 professionals, of which an estimated 100 will be new employees hired over the next several years.
Total Property Size
Facility Size
Total Number of Stores
Total Investment
New Jobs
On Sept. 3, 2013, the Outlet Mall of Georgia in Pooler hosted its official groundbreaking ceremony at the 65-acre site located near the I-95 and Pooler Parkway interchange. The project is massive – both in size and in the positive economic impact it is already making in our region.
At build out, the Outlet Mall of Georgia will house 170 stores, add 782 full-time equivalent jobs and impart a $200 million total investment to the region. At the time of the groundbreaking, 18 months ahead of its scheduled opening, leases had already been secured for 70 percent of the available spaces.
The focus of the new outlet facility will be upscale fashion retailers. Ultimately, the new shopping complex will help increase the area’s annual tourism retail spending and bolster the region’s overall economy.
“(The outlet mall) will have a huge impact on tourism spending and tourism visits. The location is phenomenal.”
- Ben Carter, Ben Carter Enterprises
Office Building Size
R&D Facility Size
Testing Facility Size
New Jobs
When it comes to time-honored Savannah businesses, Great Dane is certainly counted highly among them. This manufacturer of dry van, refrigerated and platform trailers, has a history in Savannah that dates back to the beginning of the 20th century. The area has proven to be a good fit and continued growth prompted Great Dane to announce relocation and expansion plans of its Savannah Corporate Office and Innovation Campus in October 2013.
The new facility, which is projected to add 75 new jobs, will be located in Savannah on Technology Circle directly off I-95 at Jimmy DeLoach Parkway. The high-tech campus will include a three-story corporate office along with two additional buildings that will be LEED certified in accordance with the U.S. Building Green Council. When complete, the new office building will encompass more than 75,000 sq. ft. of space including a conference center, customer preview showroom and a technology gallery. Adjacent to the office facility will be the Research and Development department, which will occupy another 28,000 sq. ft. Additionally, a separate 6,500 sq. ft. building will house Great Dane’s one-of-a-kind full-scale road simulator, used to test trailers, truck bodies and buses.
Construction began in early 2014 with an expected completion in January 2015.
“Our new Innovation Campus will position our company to continue our history of growth in Savannah while providing a modern environment that fosters teamwork, collaboration and innovation among our employees.”
– Dean Engelage, President, Great Dane
“We’re excited to be able to tap into the talent available locally to grow our own workforce.”
- Hoss Motlagh, Southern Aviation Parts and Services co-founder
Total Investment
New Jobs
Annual Salary $60,000 in next 5 years
Property Size
Option for additional 2.75-acre parcel for expansion
Savannah is already home to nearly 30 aerospace-related manufacturers, suppliers and service providers. In 2013, SEDA, along with the Savannah Airport Commission, announced that Southern Aviation Parts and Services (SAPS) had selected Savannah to locate. Planned investment is estimated between $15 and $17 million and the creation of 200 well-paying jobs in the next five years is expected.
The agreement was approved in November 2013 and includes provisions for two, new facilities. The first facility is located in Pooler at 123 Westside Boulevard and houses engineering, fabrication and finishing capabilities for general aviation customers. The second facility is being constructed at Savannah/ Hilton Head International Airport in order to provide custom aviation interiors for larger, privately owned aircraft.
“With past success in the aviation industry, Hoss and his team are no strangers to the aviation community. With their contacts and long-term relationships, I believe we will see this project quickly become successful and a great asset to our community.”
- Trip Tollison, Savannah Economic Development Authority President and CEO
“Our work force continues to grow and we are pleased with not only the available plant space, but also the high quality of the workers who have joined us and the support of both the city of Savannah and the state of Georgia.”
- Ronald S. Saks, former LMI CEO
Total Additional Space
New Jobs
Property Size
LMI Aerospace is a leading supplier of structural components, assemblies and kits to the aerospace industry, serving such clients as Gulfstream Aerospace, Aviation Partners Boeing, and The Boeing Company. In 2012, SEDA and LMI Aerospace announced an expansion that took their facility from 86,000 sq. ft. to an impressive 111,400. And in 2013, LMI was back again in front of SEDA’s board of directors to announce a second expansion in less than a year.
The announcement comes as part of LMI’s acquisition of Valent Aerostructures, which makes complex structural components, subassemblies and machined parts for The Boeing Company, Gulfstream Aerospace, Cessna and several defense contractors. This latest addition by LMI will increase its total square footage to 161,000 and add 100 new jobs.
New High-Wage Jobs
Median Salary for Chemists
Additional Facility Size
“This new center has been designed to provide us with a state-of-the-art research environment in a contemporary facility that will appeal to customers and attract science and technology professionals to Arizona Chemical and to Savannah.”
- Carl Bilgrien, vice president, science and technology
In February 2013, the director of science and technology for Arizona Chemical said it best when he told the SEDA board of directors, “Savannah is home to the company’s oldest science and technology center, in operation for more than 50 years – by the end of the year, we hope to be home to the newest.”
Based in Jacksonville, Florida, Arizona Chemical is a leading bio-refiner of pine chemicals for adhesives, inks and coatings, lubricants, fuel additives, mining and oleochemicals markets. The company’s Savannah plant is the world’s largest crude tall oil bio-refinery, a product that is fractioned into a variety of raw materials commonly used in the adhesive industry.
The latest addition by Arizona Chemical to the Savannah area, which was completed in 2013, includes a 27,000 sq. ft. state-of-the-art Science & Technology Center located on its current campus near the Hudson Hill neighborhood. The company expects to add between 10 to 20 high-wage jobs as a result of the expansion. In addition to its scientific purposes, the new facility will also be used for customer presentations and employee recruiting; something that was previously done in Jacksonville.
New Jobs
Total Investment
($35 in capital + $10 in machinery and equipment)
When a company chooses to continue its growth and investment here, that one expansion brings numerous, long-term benefits to our entire region. “Johnson Matthey Process Technologies, Inc.’s expansion is a wonderful example of SEDA’s business retention program at work. The expansion not only means a substantial capital investment but also increased port traffic and new job creation,” said SEDA president and CEO, Trip Tollison.
The expansion, which was announced in April 2013 at SEDA’s monthly board meeting, includes 25 new jobs and a $45 million total investment with $35 million in capital for a new building and $10 million in machinery and equipment.
“We have been operating in Savannah for 25 years and appreciate the opportunities this area presents for a growth-focused manufacturing business,” said Johnson Matthey Process Technologies, Inc.'s Vice President of Manufacturing, Bruce Keener.
Formerly known as Intercat, Johnson Matthey Process Technologies, Inc. has become the acknowledged leader in the manufacture and sale of specialty additives for use in the fluid catalytic cracking process and of additional systems for delivering products to an FCC unit in a precisely controlled manner [for application largely to the petroleum refining industry].
“The Savannah Economic Development Authority has facilitated the execution of our plans for business health and growth over the past 10 years and effectively underpinned Johnson Matthey Process Technologies, Inc.’s recent decision to proceed with this project to expand production capacity.”
- Bruce Keener, V.P. Manufacturing Johnson Matthey Process Technologies, Inc.
Total New Companies
17
Total New Jobs
1,353
Total Investment
$330M
Supported by WTCSav, in June SEDA 2013 Chairman David Paddison, President and CEO Trip Tollison, COO Brynn Grant and SEDA consultant Craig Lesser travelled to Germany in order to further develop connections made and relationships. The delegation also reemphasized Savannah’s commitment to building economic ties with Germany.
During the four-day mission, multiple meetings were held with companies interested in investing in the United States, with a focus on those in manufacturing and port usage. Specifically, the delegation met with representatives of the following: Bremeninvest, Aviabelt, Bremen Chamber of Commerce, BLG Logistics Group, FoodWorker GmbH, Chamber of Commerce Munich, and Grenzebach Group. Additionally, talks were conducted with the State Chancellery of Bavaria, the Bavarian State Ministry and the United States Consulate General to Germany in Munich.
The delegation also attended two major trade and investment events while in Germany: the Transport Logistics Fair in Munich and the German American Business Forum 2013 in Hamburg.
At the conclusion of the four-day mission, numerous international contacts had been established while ongoing relationships with key global leaders were also successfully fostered, which have already resulted in Savannah’s inclusion on major German business mission trips to the United States.
In addition to the delegation’s presence in Germany, SEDA President and CEO Tollison also attended SEUS-CP in Halifax, Canada where he had the opportunity to network with and promote our region to 250 Canadian and U.S. business leaders.
World Trade Center Savannah (WTCSav) exists to help create jobs and attract investment with three main goals:
1. Help regional businesses expand internationally.
2. Identify more Foreign Direct Investment opportunities for the region.
3. Generate revenue to support these activities.
Through the combined networks of international trade and business development experts, WTCSav meets the specific needs of our partners and clients by providing international market research, business matchmaking and connections to valuable public and private resources, as well as through the planning of strategic trade missions, educational programs and networking events.
WTCSav is a member of the World Trade Centers Association, a global association of over 300 World Trade Centers in nearly 100 countries.
A world of opportunity, summarized to a gleaming top 10. In 2013, WTCSav exceeded its goals both for itself as an organization as well as those it serves. Though our organization may be new, our collective experience is proven, bolstered by those who share our vision for international potential.
1
Secured the City of Savannah as a Founding Partner and supported various elected leaders and local businesses in their international efforts.
2
Secured the first of two regional development authority partnerships.
3
Exceeded revenue goal by 133 percent, adding 13 new partners in 2013 for a total of 23.
4
Introduced two companies with local presence and Turkish interests that are now doing business with each other, developed an international business development plan with and for a large regional manufacturer that employs 400 people and helped several companies make connections that have led to international sales opportunities.
5
Supported the Georgia Department of Economic Development, including making key business connections in Turkey, hosting their G.R.O.W. program in Savannah for the second year and supporting state project managers in their international business development efforts through the World Trade Centers Association network.
6
Offered 15 Global Educational Programs, hosted 15 international delegations and planned three international business development missions for SEDA.
7
Officially assumed the role of grantee for Foreign Trade Zone 104, maintained current activated sites (10) and added two new Foreign Trade Zone operators – Home Depot and Hyosung.
8
Led the effort to pursue EB-5 Regional Center designation.
9
Developed meaningful presence within the World Trade Centers Association network through activities, conferences, events and World Trade Centers Association newsletter.
10
Successfully kicked off internship program that gives students incomparable opportunities and supports WTCSav and SEDA efforts.
Success on an international scale begins by first understanding the ins and outs of foreign markets and then being introduced to potential opportunities. WTCSav is committed to providing educational opportunities throughout the year in order to foster understanding and interest between our region and countries throughout the world. In 2013, WTCSav hosted 15 Global Education Programs covering a variety of helpful topics including the following:
February 5
Innovation Management Seminar
February 20
Globalization of India and Its Emergence in a new World
March 5
Import Compliance, Documentation and Procedures Seminar
March 12
Galvanizing GDP Growth Through Transatlantic Trade
March 18
Federation of Israeli Chambers of Commerce on Opportunities in Israel
April 2
India’s Supply Chain: Markets and Opportunities Conference
April 24
Canada: Strategic Partner, On-Going Trade Opportunities
May 7
2013 Mid-Year Report on Trade
May 23
The Savannah Export Symposium – Breaking Down Barriers to Exporting
June 5
International Trade Finance Seminar
August 28
The Understanding and Managing Incoterms Seminar
September 13
8 Experts, 8 Countries, 8 Opportunities: A networking program with eight international chambers of commerce
October 10 (Savannah) & October 17 (Statesboro)
International Business 101 Program
November 13
Foreign Trade Zones Seminar
Simply put, Foreign Trade Zone 104 represents WTCSav’s mission in action. At their core, Foreign Trade Zones (FTZ) are created to encourage international commerce and provide jobs for Americans. So when Savannah/ Hilton Head International Airport, the former grantee of FTZ 104, suggested WTCSav become the new grantee, it was the ideal fit in every sense.
“The purpose of the zone is to create economic activity,” said Patrick Graham, president of the Savannah/ Hilton Head Airport Commission at the time of the transfer. “So for the betterment of the community as a whole, World Trade Center Savannah is better positioned to accomplish the goal.”
Foreign Trade Zones are geographical areas that are within the limits of the United States but are considered outside of US commerce and customs territory. As a result, companies that operate in FTZs can defer, reduce or eliminate customs duties on foreign products admitted into zones for storage, assembly, manufacture and exhibition. Specifically, FTZ 104 was created in 1984 in Savannah and continues to be available to companies in the region.
“Every day World Trade Center Savannah works with businesses in our region to explore the possibilities and opportunities that can help their business expand and grow globally,” commented Leigh Ryan, director of Trade Services and Foreign Trade Zone for WTCSav. “The global economy is altering how goods are made and the Foreign Trade Zones’ primary advantage is its ability to improve a company’s competitiveness on the global marketplace stage.”
World Trade Center Savannah chairman of the board of directors, Eric Johnson, agreed. “As World Trade Center Savannah works to attract foreign investment to the region, the Foreign Trade Zone program is an attractive and competitive advantage.”
Mutually beneficial is perhaps the best way to describe the second-annual visit of Consular Corps dignitaries to Savannah in March 2013. This international delegation of members and their staff were hosted by WTCSav for a two-day visit, allowing the dignitaries to meet with local businesses, tour the Georgia Ports Authority, SCAD and Peeples Industries and even attend performances of the Savannah Music Festival. Underlying all activities was the opportunity to discuss trade and investment between the represented countries and our region.
“A lot of German product comes through Savannah and relies heavily on this port,” said Christoph Sander, consul general of Germany. “It was wonderful to tour the Port of Savannah, to learn about their operations and the challenges and opportunities they see in the future.”
“These international representatives now have our region top of mind and can help us connect opportunities for regional businesses interested in doing business in their country,” said Brynn Grant, Vice President of World Trade Center Savannah, “[they can also] help us identify opportunities for international companies to do business in our region.”
The visiting members of the Consular Corps delegation included: Ambassador Geoffrey Teneilabe of Nigeria, Consul General of Nigeria; Claudio Leoncavallo, Consul General of Switzerland and Dean of the Consular Corps; Annabelle Malins, Consul General of the United Kingdom; Christoph Sander, Consul General of Germany; Phoebe Alozie, Head of Chancery, Consulate General of Nigeria; and Michael Runestad, Head of Press, Politics and Public Affairs, Consulate General of United Kingdom.
In January 2013, WTCSav began its now well-known internship program. Working on a five-month rotation, the WTCSav internship program has hired students from some of the most prestigious colleges and universities including SCAD, Georgia Southern University, Savannah State University, Armstrong State University, University of South Carolina and others.
Designed to allow students to expand business skills through a professional development-training program, interns have the opportunity to work alongside WTCSav professionals in marketing, economic research, trade missions, programs and services and finance to gain critical insights into corporate management, international business transactions and negotiations, marketing and programs, trade research, cross-cultural business etiquette and corporate finance.
Kier Prince, a Savannah State University student and a 2013 summer economic research intern said, “I was able to learn so much with the cost of doing business and living project.”
Madison Roesel, a programs and services intern in fall 2013 from Georgia Southern University said, “The people I have met and the things I have learned being a part of World Trade Center Savannah are invaluable and a great kick start to my career in the professional world. I will forever remember and recommend this incredible opportunity.”
The World Trade Center Savannah is governed by a regional board of representatives who lend their unique business perspective in order to further the mission of WTCSav.
Eric Johnson
Chair
Hussey, Gay, Bell & DeYoung
Scott Center
Vice Chair
National Office Systems
W. Brooks Stillwell III
Secretary/ Treasurer
City of Savannah
Jim Anderson
Greater Savannah International Alliance
Chad Barrow
Coastal Logistics Group
Dwight Evans
Pendleton Consulting Group
Sylvester Formey
Vanguard International, LLC
Tommy Hester
Colony Bank
Edna Jackson
Mayor of Savannah
Cliff McCurry
Seacrest Partners, Inc.
Anthony Phillips
Grey Wolf Logistics
Ann Purcell
State Board of Transportation of Georgia
On March 12, 2013, before a crowd of dignitaries, media, staff and supporters, a building dedication was held officially marking the base of operations for World Trade Center Savannah. With its close proximity to downtown Savannah, the Ports and our region’s major interstates, the location is perfectly positioned to carry out the global mission upon which WTCSav was established.
Before the ‘next big thing’ hits it big, it has to find its start. That is the purpose of Emerging Industries, part of SEDA’s ongoing business development program. While the overall mission of SEDA is to “create, grow and attract jobs and investment,” Emerging Industries has a more specific focus on businesses in high-wage, digital media, creative production and technical industries. Partnering with such allies as The Creative Coast and SCAD, Emerging Industries works to promote Savannah as a prime location for entrepreneurs who possess a more creative and technical vision. We do so by hosting events, attending relevant trade shows and conferences to generate qualified projects as well as working to develop local incentives and mentoring startups for continued business growth.
In 2014, SEDA embarks on a new path since the departure of longtime employee Jerald Mitchell. In his wake, he has paved the way for Emerging Industries to lead the marketing and sales of Savannah as a location for digital media, creative and technical businesses, to engage in product development for the industry in the Savannah region, develop local incentives and engage in product development for the industry in the Savannah region.
In 2013, under the direction of the SEDA marketing committee chaired by SEDA Vice Chairman Steve Green, we began the research and process of developing a new logo and brand. Always keeping in mind our target audiences and our goal to get them to compare, consider and finally select Savannah as their next location or expansion, the group went to work with agencies to research and develop the new look and brand. With a propeller like design and the tagline, “Propelling Business,” the logo encompasses Savannah’s defining and differentiating attributes of power, motion, and connectedness.
In October, SEDA partnered with the Savannah/ Hilton Head International Airport to attend the National Business Aviation Association, the world’s largest gathering of business aviation manufacturers, service providers, business aircraft owners and operators. With Savannah’s proven record of success for aviation-related companies, the event provided the ideal opportunity to promote the many benefits of our region to this growing market segment.
In fall 2013, SEDA partnered with Visit Savannah to host a media event titled, “Savannah Style” in New York City with more than 50 members of the press in attendance. As a way to make the most of this rare opportunity, SEDA, along with the Georgia Ports Authority and Gulfstream Aerospace, held desk side visits with reporters from Reuters, Wall Street Journal, Financial Times and more. These one-on-one sessions afforded an additional opportunity to share Savannah’s story and elaborate on our region’s many economic benefits.
Bringing recognition to Savannah’s biggest event of the year has become a SEDA tradition. And why not? St. Patrick’s Day is the perfect opportunity to invite prospective businesses to experience Savannah’s fun side while touting the area’s many economic perks as well. Did someone say ‘perks?’ Because that’s exactly the inspiration behind the 2013 St. Patrick’s Day Mailer. The 2013 design featured a tin can wrapped in a promotion-filled label containing a bag of freshly roasted and ground coffee from local craft roaster PERC Coffee. It was a special “Do Business Here Blend” with packaging that discussed Savannah’s perfect blend of business and lifestyle, history and innovation. And what do you do with coffee? You brew it, much like the many opportunities always brewing in Savannah.
The holiday of Thanksgiving has proven to be the ideal time to extend a heartfelt welcome and sincere thanks. For its 2013 design, SEDA recreated a real set of double doors from a downtown building into a 3D element for the cover of each of its mailed pieces with the overall theme being, “Opening Doors of Hospitality and Opportunity.”
Often the best way to keep our region in the forefront of developers’ minds is to show them, in person, all that the area offers. In March 2013, seeing was believing as SEDA hosted state economic development project managers and other partners in Savannah for a two-day event. With a focus on Savannah and Chatham County, guests were given tours of the Port of Savannah, Mitsubishi Power Systems of America and SCAD among others, and also held meetings with other industries and businesses as a means of learning the very latest that our region has to offer. There was even some time to enjoy Savannah’s cultural scene thanks to the unique entertainment of the Savannah Music Festival.
In May 2013 at the SEDA annual luncheon, a sold-out crowd of more than 650 people listened intently as the Honorable Kasim Reed, Mayor of Atlanta, delivered the keynote of the event. Voicing his support of the Savannah Harbor Deepening Project among other topics, Mayor Reed also emphasized Atlanta’s and Savannah’s diverse assets stating, “With Atlanta’s world-class airport and Savannah’s world-class port, Georgia has the potential to become the logistics hub of the Western hemisphere.”
The 5th Annual Manufacturing Anniversary Awards were presented in the fall to honor those manufacturing businesses in the Savannah region that are celebrating significant decade anniversaries. This year’s honorees were as follows:
2013 Honorees Included:
1973
River Street Sweets, 40 years
1983
Doug Bean Signs, 30 years
Savannah Color Separations, Inc., 30 years
1993
K Machine, 20 years
2003
LMI Aerospace, 10 years
Sweetener Solutions, 10 years
To the Board of Directors of
Savannah Economic Development Authority
We have audited the financial statements of the Savannah Economic Development Authority (SEDA) and affiliates, as of December 31, 2013 and 2012, and the related statements of activities and cash flows for the years then ended.
The accompanying condensed financial information of SEDA as of and for the years ended December 31, 2013 and 2012 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 if SEDA.
Management’s Responsibility
Management is responsible for the preparation and fair presentation of the financial statements.
Auditor’s Responsibility
Our responsibility is to express an opinion on the consolidated financial statements based on our audits.
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 Standards Board has determined is necessary to supplement, although not required to be a part of the basic financial statements.
Savannah, Georgia
March 28, 2014
Condensed Consolidated Statement of Net Position |
December 31 |
Assets | 2013 | 2012 |
---|---|---|
Total Assets | $34,073,472 | $32,182,305 |
Cash and Cash Equivalents | $5,153,523 | $9,804,312 |
Investments | $9,918,487 | $3,811,679 |
Capital Assets - Net of Acumulated Depreciation | $7,270,889 | $7,463,276 |
Real Property Held for Development | $9,522,661 | $9,522,661 |
Other | $2,207,912 | $1,580,377 |
Liabilities | 2013 | 2012 |
---|---|---|
Total Liabilities and Net Assets | $34,073,472 | $32,182,305 |
Current Liabilities | $1,271,149 | $1,269,199 |
Noncurrent Liabilities | $3,772,179 | $3,862,793 |
Total Liabilities | $5,043,328 | $5,131,992 |
Net Position | $29,030,144 | $27,050,313 |
Condensed Consolidated Statements of Revenue, Expenses and Changes in Net Position For the Years Ended December 31, 2013 and 2012 |
2013 | 2012 | |
---|---|---|
Total Net Position - Beginning of the Year | $27,050,313 | $25,042,543 |
Total Net Position - End of the Year | $29,030,144 | $27,050,313 |
Operating Revenue | $6,006,827 | $6,159,145 |
Operating Expenses | ($4,657,150) | ($4,275,721) |
Non-Operating Revenue (Expenses) | $630,154 | $124,346 |
Net Income | $1,979,831 | $2,007,770 |
Robert E. James, Chairman
Stephen S. Green, Vice Chairman
Cathy Hill, Secretary / Treasurer
Chad Barrow
Ken Bianco
Shevon Carr
Scott Center
Nina Gompels
Paul P. Hinchey
Bill Hubbard
Kevin Jackson
Eric Johnson
Eli P. Karatassos
Frank Macgill
Monica Mastrianni
Brian Murphy
David Paddison
Greg Parker
Willie Seymore
Jennifer Abshire
Eugene "Bruce" Adams
Dr. Nelson Baker
Dr. Linda Belicken
Austen Carroll
John Coleman
Ricky DeLoach
Dr. Cheryl Dozier
Victor Ermoli
Danny Falligant
Curtis Foltz
Kay Ford
Paul Graham
Ted Henneman
Brett Hulme
Bill Lattimore, Jr.
Pete Liakakis
Dr. Thomas Lockamy
Kathy Love
Sam McCachern
Mike McCarthy
Mark Reavis
Joseph “Rusty” Ross
Jennifer Sawyer
Kef Wilson
Trip Tollison
President and CEO SEDA and World Trade Center Savannah
Leigh Acevedo
Business Retention Manager
Leia Dedic
Economic Research Manager
Chrissy Driggers
Executive Assistant/Office Manager
Brynn Grant
COO, SEDA
Vice President of World Trade Center Savannah
Lee Grimes
Director of Business Retention
Tory Grubbs
Manager of Trade Services and Programs
World Trade Center Savannah
Angela Hendrix
Director of Marketing and Public Relations
Kathleen Henry
Research Specialist/ Trade Services Assistant,
World Trade Center Savannah
Brandt Herndon
Vice President of Business Development
Laura Johnson
Business Development Project Manager
Molly Olson
Business Development Coordinator
Leigh Ryan
Director of Trade Services, World Trade Center Savannah
Mark Sprosty
Director of Finance and Administration