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CL- 2026 Consent Agenda   Item #:   E.    
City Council Regular Meeting
Meeting Date: 12/04/2018  
Subject:    DRF Contribution to Economic Development Business Recruitment Strategy
From: Telly D. Tucker

COUNCIL ACTION
First Reading:     11/20/2018
Final Adoption:   12/04/2018
SUMMARY

The City of Danville Office of Economic Development, Pittsylvania County Office of Economic Development, and Southern Virginia Regional Alliance, applied to the Danville Regional Foundation for financial support to assist with funding the consultant contract for Tom Loehr, retired executive vice president of Rolls Royce Aerospace. This grant will support the region's business attraction strategy - particularly with the recruitment of precision metalworking related manufacturing.  The City of Danville will serve as the fiscal agent for this project and be responsible for providing a final financial report on how the funds were utilized and a final programmatic report on the activities associated with the grant. Any unused funds will be returned to Danville Regional Foundation.

BACKGROUND
Tom Loehr has proven himself to be a valuable asset in the recruitment of new industry to Danville Pittsylvania County, particularly in the aerospace and automotive advanced manufacturing industry sectors.  Loehr's participation in prospect visits provides private sector validation of the value of workforce training expertise available in the community.  During the time period that Mr. Loehr has consulted with the economic development offices, the following companies have been announced: Overfinch N.A., Kyocera SGS Tech Hub, Unison Tube, BGF Industries, and Harlow Fastech, resulting in $34 million of capital investment and creation of 245 jobs that pay well above the average prevailing wage for the region.  In addition, Mr. Loehr is assisting the City and County with projects considering the Southern Virginia Megasite at Berry Hill. 
RECOMMENDATION

City staff recommends approval of receiving this grant from the Danville Regional Foundation and appropriating it for use toward economic development business attraction strategy. 


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