Enterprise Florida, Inc.€¦ · III. Review and approve the FY 2012/13 Ops Plan Results IV. Review the Senior Management Team FY 2012/13 Performance Evaluations V. Review and approve

800 North Magnolia Avenue, Suite 1100 Orlando, Florida 32803

407.956.5600

eflorida.com

Enterprise Florida, Inc.Finance and Compensation

Committee Meeting

August 6, 2014

9:00 am – 10:00 am EST

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ENTERPRISE FLORIDA, INC. FINANCE & COMPENSATION COMMITTEE MEMBERS

Alan Becker, Chair Founding Shareholder Becker & Poliakoff, P.A. 3111 Stirling Road Fort Lauderdale, FL 33312 Phone: (954)987-7550 E-mail: [email protected]

Howard Halle Executive Vice President, Florida Wells Fargo Bank 1 Independent Drive 25th Floor, Suite 2500 Jacksonville, FL 32202 Phone: (904)351-7271 E-mail: [email protected]

Bob McAdam Senior Vice President, Government Relations Darden Restaurants 1000 Darden Center Drive Orlando, FL 32837 Phone: (407)245-5366 E-mail: [email protected]

Gene Schaefer President-Miami Bank of America, N.A. 701 Brickell Avenue, 8th Floor Miami, FL 33131 Phone: (305)347-2990 E-mail: [email protected]

Hal Melton (expanded member) Chair, President & CEO Florida First, LLC 2727 Meeting Place Orlando, FL 32814 Phone: (407) 489-6552 E-mail: [email protected]

Brett Couch (expanded member) Florida Regional President Regions Bank 100 N. Tampa Street Suite 3400 Tampa, FL 33602 Phone: (813) 226-1212 E-mail: [email protected]

Staff Contacts

Louis Laubscher SVP Administration Phone: (407) 956-5631 E-mail: [email protected]

Pamela Murphy Vice President, Finance and Accounting Phone: (407) 956-5644 E-mail: [email protected]

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Enterprise Florida Finance and Compensation Committee Meeting | August 6, 2014

Enterprise Florida Board of Directors Finance and Compensation Committee Agenda August 6, 2014 9:00 am –10:00 am EST

A meeting at: The Ritz Carlton Sarasota Meeting Room - Bickel 1111 Ritz-Carlton Drive Sarasota, FL 34236 Presiding Officer, Alan Becker, Chair, Finance and Compensation Committee Committee members

Howard Halle Bob McAdam Gene Schaefer Brett Couch (expanded) Hal Melton (expanded)

• Roll Call

• Minutes for August 7, 2013 meeting Alan Becker (I)

• Review FY 2013/14 Ops Plan Results Louis Laubscher (I/D)

• Review the Senior Management Team FY 2013/14 Performance Evaluations Alan Becker (I/D)

• PUBLIC COMMENT Alan Becker

• Review and approval of the President/CEO FY 2013/14 Performance Evaluation

Alan Becker (I/D/A)

• Supplemental Information Alan Becker (I/D)

• Executive Session Alan Becker (I/D)

• Other Business Alan Becker (I/D)

• Adjourn Alan Becker

Call in number 800.501.8979 Conference code 9565644#

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NOTICE OF MEETING

Enterprise Florida, Inc. announces a public meeting to which all persons are invited: Date and Time: Wednesday, August 6, 2014 9:00 AM Place: The Ritz-Carlton Sarasota 1111 Ritz-Carlton Drive Sarasota, FL 34236 Meeting: Finance & Compensation Committee Purpose: This meeting will discuss on-going issues, developing issues and other matters.

If an accommodation is needed for a disability or physical

impairment, please contact Pamela Murphy at (407) 956-5644 at

least one (1) day prior to the activity. Persons who are hearing

or speech impaired can contact the Florida Dual Party Relay

System at 1-800-955-8770 (Voice) and 1-800-955-8771 (TDD).

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DRAFT Minutes of a Regular Meeting of Expanded Finance and Compensation Committee A regular meeting of the Enterprise Florida, Inc. (EFI) Expanded Finance and Compensation Committee was held on August 7, 2013, at the Hilton Sandestin Beach Golf Resort & Spa in Destin, Florida.

Committee Members Present Becker, Alan-Chair Couch, Brett McAdam, Bob Melton, Hal Schaefer, Gene (by phone) Staff Present Helton, Sean Latimer, Al Laubscher, Louie Medley, Melissa Mencia, Manny Murphy, Pam Preston, Mike Salmon, Griff Swoope, Gray Webb, John Others Present Patton, Tom

Agenda

I. Roll Call II. Minutes for September 12, 2012 meeting III. Review and approve the FY 2012/13 Ops Plan Results IV. Review the Senior Management Team FY 2012/13 Performance Evaluations V. Review and approve the President/CEO FY 2012/13 Performance Evaluation

A quorum being present, Mr. Alan Becker called the meeting to order at 10:10 am. Review and Approve the Minutes from the September 12, 2012 meeting Motion: Approve the minutes from the September 12, 2012 meeting

Motion: Mr. Bob McAdam Second: Mr. Brett Couch The motion passed unanimously. Review the FY 2012/13 Ops Plan Results Louis Laubscher highlighted the results from the FY 2012/13 Ops Plan for new job growth and capital investment. He stated that all major goals were achieved. Motion: Approve the FY 2012/13 Ops Plan Results

Motion: Mr. Bob McAdam Second: Mr. Brett Couch The motion passed unanimously.

Minutes provided for informational purposes only, approved by the committee on October 8, 2013.

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Page 2 of 3

Review the Senior Management Team FY 2012/13 Performance Evaluations Griff Salmon stated that the internal unit goals were set higher than the Ops Plan goals and asked the Board members to help staff educate on the value of what EFI is doing. Crystal Sircy reported that her team was accustomed to being Governor focused and working in a high pressure environment dedicated to the mission. Her team welcomes the challenge and the resources to getting things done. Louis Laubscher stated that he had talented people who are capable of doing more with less and need to be paid fairly as part of their overall compensation. Manny Mencia stated that he was blessed to have an experienced team with longevity. His programs focus on target sectors with high wages and high growth potential, mostly in exporting. However to diversify, they will need to find new markets. Al Latimer thanked the board members for doing a great job when called on. He reported that his team had an active year with the Florida Defense Support Task Force, Sites and Building database, community competitiveness, and were looking forward to implementing new programs. Mike Preston explained that it had been a tough but successful session but they had pushed forward with additional funds for Florida Sports and the international team. He explained that EFI is not a state agency with a set budget and that the legislative team and senior staff need to convince the legislature to fund EFI every year. Melissa Medley stated that marketing team had accomplished things that have never been done before. John Webb reported that his first year was a success. Florida Sports developed a grant programs and had a successful senior games. They continued to market golf, fishing, boating, and spring training and implemented a partnership with the professional teams’ marketing departments on tags, which is the foundation of their grant program. Bob McAdam stated that they spend time every year developing staff from within or recruiting from outside because you need to know what skills are needed to be developed to be ready for the next role. Gray Swoope reported that in March 2011, the team pledged to Governor Scott to represent Florida like it needs to be represented. Partners are satisfied with the work of EFI which is reflected in the relationships with the business community. The numbers speak for themselves. Over the past 2 years, the estimated projects have increased 27%, total jobs increased 28%, and net new jobs increased 41%. Two years ago it was not a seamless system. Basic tools like marketing programs didn’t exist. He stated that he is proud of team, but this is just the beginning. All have the good of the state at heart. Alan Becker reminded the committee that the bonus pool was paid from private sector funds. Brett Couch asked senior staff to take a half day to think about constituents. Agree on weighting feedback of constituents. All matter but some do not matter as much as others.

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Page 3 of 3

Review and Approve the President/CEO Performance Evaluation for FY 2012/2013 and Incentive Compensation The Committee held an executive session with Gray Swoope for the purpose of conducting his annual performance evaluation for FY 2012/13. EFI staff excused themselves from the room during this time. Motion: The Committee unanimously approved the President/CEO Performance Evaluation for Fiscal Year 2012/13 and recommended an incentive payment of $70,000 (100% of the contract incentive payment).

There being no additional business, the meeting was adjourned at 11:45 am.

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2013-14 Final OPS Plan Measures

*Data as of 7/29/2014

EFI OPS Plan Measures FY 2013-14 UnitFY 2012-13 YTD

resultsFY 2013-14 standards

FY 2013-14 YTD results

Achieve 95% of 52 Contract Measures and Deliverables CORP 102% 95% 101%

Facilitate job growth EXEC 25,383 28,000 36,207

Secure public funding to match FY 12-13 of at least $16.0 (in millions) EXEC $18.05 $18.05 $19.90

Support and advocate for legislation that improves Florida’s business

climateEXEC 90% 100% 104%

Develop a competitive sales team with a commitment to customer service (Announced Projects)

EXEC 172 155 161

Staff satisfaction survey for: IT services and resources; HR services; Office services

ADM 89% 95% 96%

Deadlines achieved 97% of the time for reports and obligations ADM 98% 97% 100%Recruit nat’l and internat’l businesses projects BD 90 75 161Project leads referred to Partners BD 83 100 114Project-related capital investment (in $ millions) BD $1,986 $1,800 $2,786 Client consultations in target industry sectors ITD 4,325 3,500 3,95570% of all new clients are in Target Sectors ITD 76% 70% 70%Contracted and expected export sales from target sectors over the FY (in $ millions)

ITD $708.20 $474.00 $803.54

Positive messages across all news & trade media as a direct result of EFI efforts.

MC 108 125 711

Response to marketing outreach among target audiences (those who make / influence business decision)

MC 15,253 19,000 45,000

Number of open projects MC 312 385 415

$33.9 with $15 with $22.2 with

1:1 1:1 1:1Qualify to draw down entire $97.6 million allocation of SSBCI capital to Florida (in millions)

MaSBEC n/a $97.60 $97.60

Facilitate at least $40 mil in bond transactions through FDFC (in mil) MaSBEC $63.52 $40.00 $230 Create MaSBEC website and integrate minority business initiatives MaSBEC 50% 100% 100%

Deploy not less than $15 million in SSBCI leveraged not less than 1:1 with private capital

MaSBEC

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2013-14 Final OPS Plan Measures

*Data as of 7/29/2014

EFI OPS Plan Measures FY 2013-14 UnitFY 2012-13 YTD

resultsFY 2013-14 standards

FY 2013-14 YTD results

Assist in Florida regions with bidding on and hosting 15 new projects/events per quarter that produce economic impact for the State of Florida

FS 63 60 116

Produce ROI from three grant programs of at least $150:$1 in economic impact to the State of Florida.

FS $312:1 $150:1 $457:1

Produce Sports Tourism jobs from Grant related and Amateur Sports events based on the State of Florida’s standard of 1 job per every 85

visitors.FS 4,953 4,000 5,657

Board member retention 95% of August 2013 members SP 100% 95% 97%$1.49 received $1.74 received

$1.59 committed $1.85 committedAdminister Defense Support Task Force: facilitate compliance with EFI policies and legislative guidelines

SP 100% 100% 100%

Funds invested in EFI $1.6 (in millions) SP $1.60

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CONTRACT DELIVERABLES CALCULATION FOR OPS PLAN MEASURES CORP GOAL 1

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DEO Agreement: 52 deliverable requirements, including 18 (B1) Performance Measures

Contract Requirements: actual value reported for data, 1=yes, 0=no for non-data requirements Contract goal Final

EFI Measures FY 2013-2014 Standard B and B1

Final B and B1

1. BUSINESS DEVELOPMENT – Proposed Job Creation

a. Total number of proposed jobs to be created by businesses assisted by Enterprise Florida 25,000 36,207

b. Number of proposed jobs to be created by businesses assisted by Enterprise Florida in rural communities (partial subset of a.) 1,000 746

c. Number of proposed jobs to be created by businesses assisted by Enterprise Florida in distressed urban communities (partial subset of a.) 2,000 4,617

d. Number of proposed jobs to be created by businesses assisted by Enterprise Florida by international businesses (partial subset of a.) 1,300 1,357

e. Number of proposed jobs to be created by businesses assisted by Enterprise Florida by small and/or minority businesses (partial subset of a.) 12,000 7,149

f. Number of proposed jobs to be created by businesses assisted by Enterprise Florida with incentives (partial subset of 1.a.) Incentives: QTI, CLOSE, HIPI, IIF, CITC, BROWN and RIF 16,000 18,914

2. INTERNATIONAL TRADE – International Trade Assistance

a. Number of Florida based businesses assisted by Enterprise Florida for international trade[2] 2,100 2,635

b. Number of companies with export sales attributable to activities conducted by Enterprise Florida (partial subset of 2.a.) 195 269

c. Amount (US dollar value) of projected export sales attributable to the activities conducted by Enterprises Florida (millions) $600 $820.24

3. MARKETING FLORIDA

a. The number of projects opened, the key measure of response to pro-business marketing efforts by those who can make or influence the decision to place or expand a business in Florida 385 435

4. MINORITY and/or SMALL BUSINESS, ENTREPRENEURSHIP, CAPITAL (MaSBEC)

Investment in Small and/or Minority Business through financial assistance, venture capital and grants.

a. Number of businesses that received financial assistance 35 81

b. Amount (US dollar value) of funds invested $30,000,000 $33,552,829.87

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Final B and B1

5. FLORIDA SPORTS (Division of Sports Industry Development-EFI)

Florida Senior Games and Florida Sunshine State Games (In-State) a. Economic impact to communities as a result of Florida Sports Foundation

hosting of Florida Senior Games and Florida Sunshine State Games (millions) $ 7 $7.069

b. Number of participants (athletes and families) at the Florida Senior Games and Florida Sunshine State Games 40,000 45,351

Regional and Major Sporting Event Grants (Out-of-State)

a. Economic impact to communities as a result of Florida Sports Foundation’s funding of Regional and Major Grant Events (millions) $150,000,000 $379,111,567

b. Number of attendees at the Regional and Major Grant Events 250,000 480,964

6. ENTERPRISE FLORIDA – GENERAL

a. Satisfaction of businesses served with investment or trade assistance provided by EFI.[3] 95% 97%

b. Number of strategies in the Florida Statewide Strategic Plan for Economic Development being implemented by EFI. 11 11

CONTRACT REQUIREMENTS FY 13-14

a. Coordinate with WFI to distribute high technology industry marketing materials through the website for industry promotion and workforce recruitment 1 1

b. Secure Private Sector Support Equal to the State’s Operating Investment in EFI: $16 million $ 16 $17.21

Provide Harassment Free Environment; No Discrimination Against any Employee, Applicant 1 1.0

Report on use of Women and Minority vendors quarterly and final by July 10 1 1.0

Submit a Fiscal Year budget on or after July 31 1 1.0

Provide 2013-14 Fiscal Year Financial Report No Later Than September 15 1 1.0

Provide DEO/SBD with EFI Internal Operating Procedures and Access to Policies by Sept.30 1 1.0

Certify Compliance with Internal Operating Procedures on June 30 1 1.0

Send a proposed Legislative Budget Request by Sept. 17 for the following fiscal year 1 1.0

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Final B and B1

Meet DEO/SBD Quarterly Reporting Deadlines - 10/31, 1/31, 4/30,7/31 1 1.0

Complete incentives report by December 31, 1 1.0

Conduct Joint Projects/Strategic Meetings with DEO/SBD’s Other Partners and Work Closely with Workforce Florida, Inc. 1 1.0

Report on activities that support the development of the Minority Business Development division 1 1.0

A report of all activities by the Sports Division involving the status of its efforts to promote amateur sports and physical fitness, 1 1.0

Prepare Annual Report by November 30 1 1.0

Include audit with validation of interest payments 1 1.0

Include results of Customer satisfaction survey 1 1.0

Include quantification of public's return on investment 1 1.0

Operate International Offices as authorized 1 1.0

o Submit annual report by October 1 1 1.0

o EFI shall assist the DEPARTMENT with the development of the long-range strategic business blueprint (Statewide Strategic Plan) for economic development required in s. 20.60, Florida Statutes. 1 1.0

o EFI shall assist THE DEPARTMENT with its annual report on the condition of the business climate and economic development in the state. 1 1.0

Maintain and facilitate issues of the Florida Defense Alliance - report on a quarterly basis 1 1.0

o Provide administrative support to the Florida Defense Support Task Force (task force) to ensure that the task force is able to implement and fulfill its mission 1 1.0

Perform All Research Required to evaluate Florida's competitiveness and do impact analyses 1 1.0

Marketing of Brownfields - Continue to market for redevelopment of the Brownfield areas 1 1.0

Collaborate With Private Sector in the Marketing of Information Technology in Florida 1 1.0

Market Rural, distressed urban communities and enterprise zones 1 1.0

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Final B and B1

Ensure a Direct Linkage Between Economic Development and Workforce Goals and Strategies WFI may contract with EFI for support services 1 1.0

Assume Marketing responsibilities for Incentives Programs as Follows: Qualified Targeted Industry (QTI), Economic Development Transportation Fund (EDTF), Semiconductor, Defense, and Space Exemptions for Machinery and Equipment, High Impact Business Grants (HIPI), Qualified Defense Contractor (QDC), Defense Grants, Rural Revolving Loan Program, Enterprise Zone Program, Expedited Permitting, Capital Investment Tax Credit (CITC), Rural Infrastructure Fund , Innovation Incentives 1 1.0

Ensure that all subcontracts include state contract requirements as defined in the SBD 14-001. 1 1.0

Return interest from interest-bearing accounts to DEO on a quarterly basis 1 1.0

Provide Administrative Services for pass thru funds to: Latin Chamber of Commerce/ Camacol; SEUS/Japan & FLORKOR 1 1.0

Provide Administrative Services for SB14-05 grant program and funds to: Defense Grants and Task Force; Military Base Protection; and Sports pass-throughs. 1 1.0

Total of all contract deliverables (percent of goals achieved) 95% 106%

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1111 Ritz-Carlton DriveSarasota, Florida 34236

(941) 309-2000

FINANCE & COMPENSATION MEETING

9:00 a.m. – 10:00 a.m.

BICKEL

ENTRANCE

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Enterprise Florida, Inc.€¦ · III. Review and approve the FY 2012/13 Ops Plan Results IV. Review the Senior Management Team FY 2012/13 Performance Evaluations V. Review and approve

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