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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, making 2015 our 90th anniversary. Throughout its history, SEDA has focused on building and supporting business growth in our area, even though the strategies for fulfilling this mission have evolved.
Today, SEDA uses a number of strategies for encouraging investment and retaining and creating jobs.
Our efforts to bring new businesses to our area are the most well-known of these economic development strategies. However, just as important are our actions to help retain and expand the companies that already have a presence in our area. Sixty-five percent of our 2014 announcements celebrated expansion and job retention by our existing businesses. Because of this success in helping companies retain or expand their activities in Savannah, SEDA's Business Retention and Expansion Program received an Excellence in Economic Development Award from the International Economic Development Council in 2014.
SEDA also operates World Trade Center Savannah, the international arm of the organization. Providing a proactive international strategy for the region, WTCSav is focused on helping local businesses grow internationally as well as attracting more foreign direct investments that lead to local jobs.
During 2014, with the encouragement of the City of Savannah, SEDA accepted a greater responsibility for attracting a larger share of the burgeoning Entertainment Production Industry. These efforts are already drawing increased attention to this area as a site for these production activities.
SEDA’s work was guided by a dedicated Board of Directors, advisory council and staff. We also enjoyed outstanding relationships with the City and County governments as well as our other economic development partners who were key to our success.
Clearly 2014 was another great year for SEDA and our community, and we are positioned for even greater accomplishments in the future.
Robert E. James
Chairman
Carver State Bank
At the Savannah Economic Development Authority, our mission is extremely focused: to create, grow and attract jobs and investment in the Savannah region. In 2014, not only did we help facilitate 15 companies locating or expanding in Chatham County, we also laid the groundwork for future years of economic prosperity.
Examples of the year’s progress include the passage of the Freeport Exemption in Savannah that repeals the inventory tax, the creation of the Savannah Harbor-Interstate 16 Corridor Joint Development Authority with Bryan, Bulloch and Effingham counties and the joint efforts of the City of Savannah and SEDA to attract and service more entertainment productions in Chatham County. These short-term accomplishments will lead to long-term economic success for our city, our county and our region.
The achievements from 2014 would not have been possible without the hard work and dedication from the SEDA and WTC Savannah team. We are very fortunate to have such incredible people working to facilitate jobs and investment for our region. I would also like to thank all of our partners who stand with us at all times to improve our quality of life and create economic opportunities. We look forward to another successful year in 2015.
Trip Tollison
President & CEO
In 2011, I was an unapologetically skeptical member of the original team of board and staff appointed to determine best options for a proactive international business and trade development effort for SEDA. After six months of study, while acknowledging the challenge before us, I was confident in our recommendation to fellow board members that we secure a World Trade Centers Association license for Savannah.
Since that time, I am pleased that we have accomplished almost all of our first critical goals.
World Trade Center Savannah has promoted the Savannah region on the global stage. We are providing valuable services to private industry partners as well as 12 other regional economic development authorities in addition to SEDA itself. We have a truly regional board of directors with members from nearly every partner county. For the third year in a row, we exceeded our revenue goal so we set it even higher for 2015. We are offering Global Educational Programs that support business operations and growth. We are receiving international business delegations and connecting them to businesses which may gain from the relationships. And we were certified by the World Trade Centers Association and their independent auditors in five categories before our third anniversary. Because you can only qualify for certification after two full years of operation, this achievement is particularly gratifying, especially to those of us who pushed to advance the WTCSav vision against the odds.
In addition and well beyond our initial goals, WTCSav has taken on the role of grantee for Foreign-Trade Zone 104, the federal program that can save importers money and time. We also advanced the study and effort to become an EB-5 Regional Center, another federal program that attracts foreign investment and fast-tracks Visas for job creation. Both of these programs, though not initially anticipated, meet our mission and goals perfectly and will provide valuable revenue to continue pursuing them.
I stepped down as chairman on January 7, 2015 after three years and passed the gavel to Scott Center. I must say that this has been the most rewarding effort I have been involved with since retiring from politics. Moving forward, I am sure our board and staff will maintain the momentum we have generated and the quality of our services while exploring new opportunities to advance the economic growth of our region.
It has been my pleasure to serve. Thank you to everyone who has been involved in making WTCSav the success it is.
Eric Johnson,
Chairman, World Trade Center Savannah
President, Hussey, Gay, Bell
Each of these annual achievements reflects the shared vision of those within SEDA and our esteemed partners here at home and around the world. Alone, each milestone is impressive. Combined, they speak volumes about the accomplishments of 2014 and the preparations we've made as partners in progress for our region's economic future.
1
Every dollar invested and every retained or new job that SEDA helped facilitate. Includes 668 jobs and $305* million of investment announced by 15 companies. *Includes $150 million International Paper incentive
2
Passage of the Freeport Exemption in Savannah that repeals the inventory tax.
3
Chatham County Commission adoption of a new incentive for retention and new job creation. This incentive was critical to the future of International Paper Savannah Mill.
4
Creation of a Savannah Harbor-Interstate 16 Corridor Joint Development Authority with Bryan County, Bulloch County, Chatham County, and Effingham County.
5
Adoption and implementation of a new logo, brand and tagline including website, video, sales presentation, advertising and more.
6
SEDA's Business Retention and Expansion program receiving an Excellence in Economic Development Award from the International Economic Development Council.
7
WTCSav achieving WTCA certification, securing 10 more economic development authorities and exceeding revenue goal by $70,000.
8
Hiring a veteran Hollywood producer to serve as entertainment production liaison to market and sell Savannah/Chatham County as a location for production in partnership with the City of Savannah Film Office.
9
Planning and coordinating Red Carpet Tour in conjunction with Georgia Chamber of Commerce and Georgia Department of Economic Development.
10
Implemented a comprehensive investment policy.
Propelling business in our region requires a three-pronged approach of attracting new businesses, helping current businesses expand and ensuring we have measures in place to retain those businesses.
"As the nation continues to tackle challenges in the midst of global uncertainty, these efforts have taken on an even greater significance. With this award, we laud trendsetting organizations like the Savannah Economic Development Authority for leading the charge."
Bill Sproull, IEDC chair
In 2014, 65 percent of all announcements were expansion and retention projects. In fact, SEDA’s Business Retention and Expansion department received an Excellence in Economic Development Award from the International Economic Development Council.
"Economic development efforts have long been a keystone in the quest to bolster the economy and improve quality of life in every locality across the country," said Bill Sproull, IEDC chair. "As the nation continues to tackle challenges in the midst of global uncertainty, these efforts have taken on an even greater significance. With this award, we laud trendsetting organizations like the Savannah Economic Development Authority for leading the charge."
And while new businesses to our area may create the most buzz, it is often the businesses that choose to stay and grow here who are instrumental in attracting the attention of those new businesses. Success breeds success and for business prospects, gauging the experience and growth of other companies in our area is a major deciding factor as to their ultimate site selection.
Attraction, retention and expansion of businesses is the driving force behind all that we do to strengthen the economy in our region. Whether helping to enact tax repeals, creating incentive packages or joining with surrounding counties for a more unified front.
Expansion/ Announcements
2014 Target
2014 Actual
New Jobs
2014 Target
2014 Actual
Capital Investment
2014 Target
2014 Actual
New Projects
Client Visits
Local/Regional/State Networking and Outreach Opportunities
Consultant/Broker Outreach
Conferences / Tradeshows
Savannah’s Gulfstream Aerospace Corporation continues to experience impressive growth and in 2014 became the number-one business jet manufacturer in terms of sales while also hiring its 10,000th Savannah employee.
Total Investment
New Jobs
"Gulfstream is very committed to this community and the State of Georgia."
- Jay Neely, Gulfstream vice president for law and public affairs
In support of that growth, SEDA continues to partner with Gulfstream to help them expand their Savannah facilities and in September 2014 Jay Neely, Gulfstream vice president for law and public affairs, thanked the SEDA board of directors for their continued support and help in making the new state-of-the-art $33 million paint facility a reality.
Gulfstream already operates the largest business aviation maintenance facility in the world out of Savannah. Now, this new paint facility, which is being located near the impressive 680,000 square foot maintenance building, will be one of the most advanced high-tech paint hangars ever constructed. With an expected completion of summer 2015, the new facility will bring in a minimum of 100 new jobs to the area.
In July 2014, Savannah-based Dulany Industries Inc., purchased the 1,600-acre former site of Kerr-McGee and Tronox. Now called SeaPoint Industrial Terminal Complex, the site is available for multi-tenant use including manufacturing, assembly, warehousing, distribution, R&D and intermodal inland port and logistics.
Total Property Size
Acres Being Redevloped
Plots for Diversified, Multi-Tenant Use
The complex is the largest private industrial site at the Port of Savannah featuring a mile of deep-water frontage, dual rail access into the port and infrastructure that includes a dock, utilities and services such as steam, compressed, air, process water, construction services and more.
At the time of the announcement Dulany said, “SeaPoint will offer everything from soup to nuts. Our clients will have accessibility to rail, deep water, steam and solar energy, warehousing, R&D facilities and other amenities.”
Cliff Dales, whose Collier Savannah office will help market the site along with CBRE said, “I have been marketing industrial real estate in the Savannah area for 30 years, and this is by far the most unique and exciting site I have seen or had the opportunity to work on.”
SEDA President and CEO Trip Tollison added, “This project will give Savannah much sought-after property that will be perfect for port-related businesses and is a great asset as SEDA markets Savannah with the goal to create jobs and attract investment to our region.”
"We couldn’t be more excited about [this property’s] potential and look forward to bringing a large number of jobs and significant investment to the property."
- Reed Dulany, president of Dulany Industries
Johnson Matthey Process Technologies, Inc., formerly Intercat, Inc., announced a new expansion of its Savanna facility during the May 2014 Savannah Economic Development Authority board meeting.
Research Center Expansion Size
New Scientists
Current Number of Employees
The expansion includes an 18,000 square foot Research Center for up to 30 new scientists. These scientists will research and develop new technology and products for existing and new markets.
SEDA worked with Johnson Matthey on the expansion. Trip Tollison, SEDA president and CEO said, "We are thrilled that Johnson Matthey has once again chosen Savannah to expand. The addition of 25 to 30 high-wage jobs in Savannah is a definite win for our area."
The company, which manufactures and sells specialty additives and addition systems for use in the fluid catalytic cracking process and other applications primarily for the petroleum refining industry, currently employs more than 160 people at its Savannah facilities.
"We are appreciative of SEDA’s role in helping Johnson Matthey expand in Savannah,” said Bruce Keener, vice president of manufacturing for Johnson Matthey Process Technologies, Inc. “We have been in Savannah for more than 25 years and look forward to continuing our investment in innovative technology and manufacturing in this great community."
“We have been in Savannah for more than 25 years and look forward to continuing our investment in innovative technology and manufacturing in this great community.”
– Bruce Keener, vice president of manufacturing for Johnson Matthey Process Technologies, Inc.
Neovia Logistics, a global, industrial contract logistics company providing inventory management and warehousing in 25 countries with 96 facilities, partnered with Coastal Logistics Group to implement a container cross dock operation located less than two miles from the Port of Savannah.
Cross Dock Operation Size
Neovia Operates in
“Shipping to more than 190 countries, Neovia Logistics delivers a nimble, cutting-edge approach to supply chain management,”
- Curtis Foltz, Executive Director of the Georgia Port Authority
"Shipping to more than 190 countries, Neovia Logistics delivers a nimble, cutting-edge approach to supply chain management,” said Curtis Foltz, executive director of the Georgia Port Authority. “Their state-of-the-art solutions mesh perfectly with the Port of Savannah’s speed, efficiency and its global reach delivered through 38 weekly container ship services."
Neovia chose to partner with local logistics provider, Coastal Logistics Group (CLG), for its specialized manufacturing support services. Headquartered in Savannah, CLG is a premier third-party logistics provider that uses lean logistics expertise, robust technologies and kaizen culture to engineer customized solutions for its customers. With its solid reputation, offering of services and convenience to the cross dock operation, CLG was the stand-out choice for the Neovia.
"Savannah is known worldwide as a premier logistics and distribution hub," said Trip Tollison, president and CEO of the Savannah Economic Development Authority. "Companies like Neovia Logistics further add to the reputation that the Port of Savannah is a leading port to import and export goods."
From 2012 to 2013, imports from Israel to Georgia increased by 71 percent and total trade increased by 46 percent. In June 2014 that growth continued as Israel-based Haifa Group announced its plans to build a new controlled release fertilizer manufacturing facility in Savannah.
Total Investment
New Jobs
Haifa Group is a leading global supplier of potassium nitrate, specialty plant nutrients and food phosphates, which supply the agriculture industry. With a total investment of $12 million and the creation of 20 new jobs, the Haifa Group plant opening is one more way that our region continues to attract the interest of businesses from around the world.
Gaining the attention of companies like Haifa is due in large part to the efforts of organizations, like SEDA, that are leveraging Georgia STEP grant funding. This funding has helped the state attract the interest of 38 buyers from Israel, Brazil, China, Germany, Canada, Chile, Japan, Mexico and the United Kingdom. Roughly 26 percent of those buyers are from Israel.
“We fully expect that this new production facility will help establish our state as a center of advanced fertilizer technology with farmers, nursery owners and professional turf experts across the country asking for our products.”
- Governor Nathan Deal
Kimball Midwest, a Columbus, Ohio-based Maintenance, Repair and Operations (MRO) Distributor, announced in August 2014 that it will purchase a Savannah warehouse to act as its southeast distribution center. The new center will allow 95 percent of those customers serviced from the location to see next-day delivery of their orders.
Size
Providing Next-Day Delivery to:
New Jobs
“Kimball Midwest's decision to locate a new facility in Savannah is another example of the excellent logistics infrastructure our region offers to companies around the world.”
- Brandt Henderson, SEDA Vice President of Business Development
"We’re excited! This is a way to service our customers better by providing regional presence to the southeast," said Steve Good, director of operations for Kimball Midwest.
Totaling approximately 142,000 square feet, the center will create new jobs in Savannah, including office and warehouse positions and will house extensive inventory of everything from nuts and bolts to cutting tools and chemicals. Within the facility, 5,500 square feet will be used exclusively for office and training space and the entire center will follow the path of energy conservation that the rest of the company has implemented in recent years. Specific steps include removing outdated lighting and replacing it with LED alternatives, as well as replacing all current HVAC mechanicals with more energy-efficient equipment.
The Savannah facility will be the fourth for Kimball Midwest, with other distribution centers located in Dallas, Texas; Reno, Nevada; and its headquarters in Columbus, Ohio.
For years, Savannah and the surrounding region have been selected by Hollywood production companies as ideal locations for filming productions.
“The film industry is vital to Savannah. We look forward to working with SEDA to bring more productions, which will have a tremendous economic impact on our city.”
- Stephanie Cutter, Savannah City Manager
With its varied landscape – including Atlantic-coast beach, historic downtown Savannah and nearby farmlands to name a few – a director can choose from any number of beautiful yet vastly different settings all within a few miles of each other.
In 2014, after an extensive search, SEDA retained the expertise of award-winning producer, Ralph Singleton, to further promote and sell the Savannah region for various production projects.
“Ralph Singleton has many years of experience as a producer, studio head and director in the film industry,” said Trip Tollison, SEDA President and CEO. “His in-depth knowledge and high-level connections will be vital to help bring productions to the Savannah region.”
The hire was made in part as a result of the Stanford Research Institute Competitive Positional Analysis and Target Industry Study commissioned by SEDA in 2011. In the report, SRI affirmed that with consistent efforts to address infrastructure and labor issues, the film, television and commercial production industry is one of Savannah’s greatest opportunities to further diversify and expand the economy. After the report, SEDA organized a committee of stakeholders and industry professionals led by Stratton Leopold to identify key assets and barriers and make recommendations for advancing the sector.
“Ralph Singleton has extensive experience in the industry and is widely respected,” commented Leopold. “He will do a great job marketing Savannah as the ideal location for film production.”
Singleton has worked on more than 40 motion pictures and two television series including Murder at 1600, Last Man Standing and Another 48 Hours. He also earned an Emmy Award for his work on the television series, Cagney and Lacey. Singleton will work closely with the Savannah Film Office, whose primary responsibility is to manage productions once they choose Savannah.
Total New Companies
15
Total New Jobs
668
Total Investment
$305M*
*Includes $150 million International Paper incentive
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.
What does it take to shine an international spotlight on our Savannah region? Just ask the members of World Trade Center Savannah (WTCSav) and its many colleagues at home and abroad. Hosting delegations, forming partnerships with a dozen economic development authorities, working to expand the benefits of Foreign-Trade Zone 104 to include neighboring counties – this and so much more has helped our region gain attention the world over, opening doors and international relations at unprecedented levels.
1
Secured 10 more economic development authorities as partners in 2014 and maintained the City of Savannah as our Founding Investor.
2
Awarded official certification in all categories in which the organization could submit by World Trade Centers Association after only three years of operation. This has been achieved by fewer than 1/3 of all WTC licensees.
3
Exceeded partnership revenue goal by 70 percent.
4
Partnered with Georgia Power to host members of the Consular Corp during the Savannah Music Festival. This event engaged our regional economic development partners and showcased the region’s economic development assets.
5
Logged more than 970 trade services hours for WTCSav partners.
6
Hosted 17 Global Education Programs, exceeding our goal by seven programs.
7
Hosted 16 inbound delegations with 145 delegates and coordinated five outbound business development missions for SEDA.
8
Supported 14 companies in six Georgia counties through Foreign-Trade Zone 104.
9
Filed an application to the Foreign-Trade Zone’s board within the U.S. Department of Commerce to expand the FTZ 104 service area to include six additional Georgia counties.
10
Filed EB-5 application with Department of U.S. Citizenship and Immigration Services in October.
Each year, WTCSav, provides the Global Education Program series to foster understanding and interest between our region and countries throughout the world so that they can operate and grow more effectively internationally. In 2014, SEDA hosted 17 Global Education Programs covering a variety of helpful topics including the following:
January 16
Germany: Business Opportunities to Generate More Revenue
February 17
Global market Insight Seminar
March 4
Export Compliance Self-Assessment Workshop
March 20
Trade with Uruguay, Argentina and Brazil
April 15-16
India Supply Chain Summit
May 20
C-TPAT Security and Threat Awareness Training
August 14
Doing Business with Canada and Mexico
August 25
International Protocol and Cross-Cultural Training
August 26
International Protocol & Cross-Cultural Training
August 28
International Protocol & Cross-Cultural Training
September 30
International Trade Finance
October 16
Import Compliance Documentation & Procedures
November 6
Foreign Trade Zones
November 7
Foreign Trade Zones Operators Roundtable
November 20
International Business 101
World Trade Center Savannah was licensed to establish a professional international strategy for our region. In a little less than four years, WTCSav is working every day to introduce regional companies to international opportunities and likewise, to introduce international prospects to all that we offer businesses here at home.
WTCSav has secured 42 WTCSav partners including 12 regional economic development authorities: Screven County Development Authority, Liberty County Development Authority, Development Authority of Bulloch County, Development Authority of Bryan County, Effingham County Industrial Development Authority, Jenkins County Chamber of Commerce and Development Authority and the six development authorities in the Southeast Georgia Joint Development Authority.
The securing of the regional economic development authorities led to the creation of the first meaningful regional economic development partnership in the region and the largest regional economic development effort in Georgia outside of metro Atlanta. This partnership provides each county’s companies the opportunity to access the products and services provided by WTCSav.
In March 2014, WTCSav once again partnered with Georgia Power to host international delegates from the Consular Corps, Bi-National Chambers and trade offices in Atlanta. Delegates toured Georgia Southern University, the Port of Brunswick and enjoyed the Savannah Music Festival. In addition, delegates were paired with EDA leadership for a customized tour of three different counties in southeast Georgia.
In 2011, WTCSav received its World Trade Centers license, which marked the official launch of the organization.
In recognition of its international efforts, WTCSav was awarded certification by the World Trade Centers Association (WTCA) in five categories: Trade Information Services, Business Services, Trade Education Services, Group Trade Missions and Tenant Services.
“The World Trade Centers Qualification Certification Process is a rigorous and in-depth process and we are honored that WTCA recognized the work World Trade Center Savannah is doing,” expressed Eric Johnson, chairman of the board for WTCSav.
The World Trade Centers Qualification Certification Program was established 20 years ago by WTCA and recognizes centers, like WTCSav, that have developed and maintained a superior level of services and facilities. Gaining certification is no easy process. It begins with a formal assessment and precertification with a WTCA certification manager. The next step is an in-depth self-assessment of the areas identified for certification. Finally, a site review visit is conducted. To date, 102 World Trade Centers in 42 countries have been certified in a minimum of four categories and in accordance with this set of global standards.
“Since obtaining our license in 2011, certification has been one of our top goals for World Trade Center Savannah. We believe it assures our board of directors, partners, sponsors, other World Trade Centers and the global business community that our staff and the services we provide are consistent, reliable and of the utmost professional quality,” remarked Brynn Grant, WTCSav vice president.
Once certification is awarded, an action plan for continuity and process improvement is established. WTCSav was recognized for this honor at the WTCA Member Seminar in New York City in October of 2014.
Each year, the small but mighty staff at WTCSav works diligently to foster international trade and commerce between businesses in our region and those abroad. Planning inbound and outbound delegation visits, conducting trade research, establishing international contacts and more! This is the work we gladly do day in and day out.
“I can say with confidence that Savannah Bee’s partnership with World Trade Center Savannah has been an integral piece of our international expansion. We were able to move quickly into the European Union because of our partnership.”
Kristen Crawley, Savannah Bee Sales Director, International Sales
In 2014, that work resulted in a total of 970 trade service hours – hours spent making sure that regional businesses have the tools they need to seize international opportunities. Likewise, WTCSav helps to ensure that those companies abroad with local interest have access to the resources, information and contacts they need to get the job done.
One great example of the benefits of WTCSav’s trade services is the partnership with Savannah Bee Company. The company, looking to make headway into international markets, contacted WTCSav to initially help identify regulations for exporting products as well as buyers and wholesalers in specific international markets.
Savannah Bee reached a speed bump in preparing their product for export into the European Union (EU) when they learned that each label must contain a phone number and address within the EU. The company called upon WTCSav who was able to connect Savannah Bee with World Trade Center Marseille Provence in France. WTC Marseille Provence was able to provide the company with all the necessary services needed to begin exporting to the EU.
Additionally, WTCSav identified the National Products Expo in London as an international trade show that could be beneficial for Savannah Bee to attend. Not only did the company attend, they walked away with the best new product award.
According to Kristen Crawley, Savannah Bee Sales Director, International Sales, the connection proved to be of great value to their exporting goals. “I can say with confidence that Savannah Bee’s partnership with World Trade Center Savannah has been an integral piece of our international expansion. We were(?) able to move quickly into the European Union because of our partnership.”
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.
Scott Center
Chair
National Office Systems
Chad Barrow
Vice Chair
Coastal Logistics Group
Sylvester Formey
Secretary/Treasurer
Vanguard International, LLC
Eric Johnson
Hussey, Gay, Bell & DeYoung
Jim Anderson
Greater Savannah International Alliance
Dwight Evans
Pendleton Consulting Group
William "Bill" E. Hill
B & C Hill Enterprises, LLC
R.J. "RICK" Edger
PaR Systems
Charles "Charley" H. Hood
Rayonier Advance Materials
John Petrino
Georgia Ports Authority
Edna Jackson
Mayor of Savannah
Anthony Phillips
Grey Wolf Logistics
Ann Purcell
State Board of Transportation of Georgia
Steve Croy
Croy Group, LLC
Kirk Thomas
SNF Holding Company
Loretta Cockrum
Foram Group, Inc.
Ken Bianco
JCB, Inc.
Michael Foran
Consultant
Cathy Hill
Georgia Power Company
In 2013, the SEDA marketing committee set out to research and develop a new logo and brand reflective of the evolution of the organization, its forward-thinking approach and those it serves.
The result was a logo with a dynamic propeller-like design and the tagline, “Propelling Business” symbolizing Savannah’s power, motion and connectedness. In 2014, we continued to rollout SEDA’s new brand with the launch of the all-new SEDA.org. Featuring a more user-friendly, streamlined and sophisticated look and operational structure, the new website is a very visible presence of our organization and the many ways that we support businesses locally, regionally and internationally. SEDA also produced its first new video. Used on the website, with prospects and in presentations, this video includes the attributes that make Savannah an ideal location for some of the top business leaders in our community.
Reminding our colleagues, partners and prospects of the uniqueness of Savannah definitely takes an interesting turn each year as St. Patrick’s Day approaches.
Our goal each year is to convey a professional message in a surprising package that the recipients will want to keep as a reminder of their friends at SEDA. 2014 was no different as we chose to feature our new “Propelling Business” tagline and logo on various items for recipients to enjoy – even in those rare moments out of the office. From mini-coolers to hats to shirts, we assembled a creative mailing designed to make the most of parade day, even if only from their own backyard.
Each year SEDA develops a creative mailer for Thanksgiving, which also happens to be a great opportunity to thank all of those who support us year after year.
For 2014, we chose to highlight our new “propeller” logo and tagline in an unexpected way. The card design featured a seemingly ‘standard’ Mayflower-like ship on the front but as the card unfolded, a bright, shiny, modern-day propeller was revealed, powering the historic vessel. The similarities to Savannah were not lost on our recipients who saw parallels between a historic past and the modern-day means to power forward to a bold and innovative new future. Today, SEDA works tirelessly to be to the business community what that propeller would have been to the pilgrims – an incredible leap forward.
In April 2014, SEDA rolled out the proverbial red carpet for more than 30 site selectors and consultants for the annual Red Carpet Tour.
Hosted by the Georgia Chamber of Commerce and the Georgia Department of Economic Development, this year’s event highlighted the benefits of doing business in Georgia, in particular Savannah.
Guests heard from business leaders on the advantages of doing business in Georgia, toured Gulfstream Aerospace and enjoyed recreational activities such as golf, fishing and kayaking followed by a relaxing evening that included dinner in Forsyth Park.
In the fall, SEDA and Visit Savannah partnered once again to take Savannah to New York City. Guests, which included national and international media outlets, had the opportunity to learn about the advantages and benefits of doing business in Savannah as well as sample our quality of life. SEDA and Georgia Port Authority representatives also conducted deskside visits with the New York Times, Reuters, The Economist and more.
The 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:
2014 Honorees Included:
1925
Byrd Cookie Company, 90 years
1945
ChemTrade Logitics, 70 years
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, 2014 and 2013, and the related consolidated statements of revenue, expenses, and changes in fund position and cash flows for the years then ended.
The accompanying condensed financial information of SEDA as of and for the years ended December 31, 2014 and 2013 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 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 31, 2015
Condensed Consolidated Statements of Net Position |
December 31 |
Assets | 2014 | 2013 |
---|---|---|
Total Assets | $34,553,606 | $34,503,560 |
Cash and Cash Equivalents | $2,513,557 | $5,153,523 |
Investments | $14,996,846 | $9,402,525 |
Capital Assets - Net of Acumulated Depreciation | $7,404,715 | $7,270,889 |
Real Property Held for Development | $7,635,047 | $9,522,661 |
Other | $2,003,441 | $3,153,962 |
Liabilities | 2014 | 2013 |
---|---|---|
Total Liabilities and Net Position | $34,553,606 | $34,503,560 |
Current Liabilities | $1,138,820 | $1,271,149 |
Noncurrent Liabilities | $3,896,378 | $4,202,267 |
Total Liabilities | $5,035,198 | $5,473,416 |
Net Position | $29,518,408 | $29,030,144 |
Condensed Consolidated Statements of Revenues, Expenses and Changes in Net Position For the Years Ended December 31, 2014 and 2013 |
2014 | 2013 | |
---|---|---|
Total Net Position - Beginning of the Year | $29,030,144 | $27,050,313 |
Total Net Position - End of the Year | $29,518,408 | $29,030,144 |
Operating Revenue | $6,760,545 | $6,006,827 |
Operating Expenses | ($4,504,072) | ($4,657,150) |
Non-Operating Revenue (Expenses) | ($1,768,209) | $630,154 |
Net Income | $488,264 | $1,979,831 |
Robert E. James, Chairman
Carver State Bank
Stephen S. Green, Vice Chairman
Stephen Green Properties, Inc.
Cathy Hill, Secretary / Treasurer
Georgia Power Company
Chad Barrow
Ken Bianco
Shevon Carr
Loretta Cockrum
John Coleman
Nina Gompels
Paul P. Hinchey
Bill Hubbard
Kevin Jackson
Eric Johnson
Eli P. Karatassos
Frank Macgill
Monica Mastrianni
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
Dr. 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
Jesse Dillon
Manager of Trade Services and Programs
World Trade Center Savannah
Charisse Bruin
Receptionist and Administrative Assistant
Angela Hendrix
Director of Marketing and Public Relations
Kathleen Henry
Manager of Trade Services and Research
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