Title
PARTICIPATION AGREEMENT WITH THE GREATER WICHITA ECONOMIC DEVELOPMENT COALITION (GWEDC).
Presented by: Chris Chronis, Chief Financial Officer.
RECOMMENDED ACTION: Approve the agreement and authorize the Chairman to sign.
Body
The Greater Wichita Economic Development Coalition (GWEDC) is a public-private partnership dedicated to:
1. promoting recruitment, retention and expansion of targeted economic driver industries in Wichita/Sedgwick County;
2. facilitating the creation of diverse, quality jobs and capital investment which generate overall positive return on public investment; and
3. marketing the South Central Kansas region as an exceptional business location
Founded in 2003, this broad-based coalition is led by an 18-member Steering Council comprised of two elected officials from Sedgwick County, two elected officials from the City of Wichita, a representative from the Regional Economic Area Partnership (REAP), two representatives from the Wichita Metro Chamber of Commerce, six business leaders elected and five appointed (three of which are non-voting) from the private-sector Board of Investors.
Housed and staffed by the Wichita Metro Chamber of Commerce, GWEDC is focused on expanding Greater Wichita's commercial and industrial base through aggressive business retention, expansion and recruitment activities and marketing the nine county region of South Central Kansas as fierce competitor in the global environment.
Since its founding, GWEDC has been funded in roughly equal shares with public funds provided pursuant to participation agreements with Sedgwick County and Wichita, and private funds provided pursuant to pledges made by local businesses. The current county participation agreement, which took effect in 2009, expires at the end of this year.
The proposed agreement mirrors it in all important aspects. It specifies the composition of Steering Council that governs GWEDC and gives Sedgwick County the right to designate two Steering Co...
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