FY 23 Approved Budget Book

OFFICE OF COMMUNITY & ECONOMIC DEVELOPMENT OBJECTIVES & PERFORMANCE MEASURES

Department Goal - Economic Development To attract and retain business growth and development, create strategic alliances, and invest in entrepreneurial innovation. To design and administer various grant programs to distribute federal, State and local COVID relief funding.* Department Objective To provide financial assistance, consult with, advise, and educate the financial and business community on the capital opportunities available to Harford County businesses in support of new investment, redevelopment, business retention, and job creation. Provide program grant monies to designated business entities as funding becomes available. County Goal(s) Supported I. Investing in our Workforce V. Building Economic Vitality

Estimate 2023

Measure

Actual 2021 Budget 2022

Input: Dollars Allocated Number of Staff

$2,016,122 $2,016,122 $2,016,122

9

9

9

Output: Number of companies serviced *

143

157

150

Number of workshops and events held **

5**

23**

35

Outcome: Dollars Allocated for business loans, grants, and tax credits Number of businesses and organizations assisted with loans, grants, and tax credits

$81,048 $100,000 $100,000

29 30 As a result of the COVID-19 pandemic OCED distributed almost 4,000 grants totaling more than $26 million to support small businesses, nonprofits, and agricultural enterprises in the County that are not accounted for on this chart. Grant programs were designed and administered throughout 2020 and 2021. Normalization of development activities will continue to take place as team members are able to resume in person engagements. *Number of companies services-Data is gathered from internal Salesforce database detailing business development team interactions with new and expanding businesses, grand openings, ribbon cuttings, retention visits to businesses, etc. ** Numbers were less due to limited in-person interactions because of the COVID-19 pandemic. 27

755