Small Business Resources & Essentials

City of Austin Economic Development Department Small Business Development Program

August 5, 2014Vicky Valdez & Xavier Zarate

Economic Development Department

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• Over 90% of Austin businesses employ fewer than 100 employees; over 80% employ few than 20

• 2 in 5 Austin workers are employed by a local small business

• Austin businesses with less than 20 employees generated an estimated $15.4 million in sales tax revenue in 2011

Small Business is Big Business

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Portal For Small BusinessA resource for entrepreneurs starting a new business or

enhancing an existing business

Business Solutions Center

Technical Assistance Special Events

LocallyAustin.org

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Family Business Loan Program

• Business Development• Accessing Capital• Business Education

Technical Assistance

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• Provide resources and information to navigate the land development and permitting processes

• Monthly Orientation classes to describe the development process to entrepreneurs

Technical Assistance

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Special Events

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• Web-based research tools• Demographics• Sales Leads• Real Estate• Government Procurement• General Business

• Staff provides assistance and information

• Business resource library• 8:30 – 4:30 Mon. – Fri.

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Business Solutions Center

LocallyAustin.orgInvest a minute. Gain a Customer!

Zero Cost , Quick Sign-Up, Small Business Map & Directory

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Public-private partnership to support small business expansion and create jobs.

Lending partners1. Bank Partner: Private Sector Loan Component2. Community Development Corporation: SBA Section

504 Loan Component3. City of Austin: HUD Section 108 Loan Component

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Mission

• Enable existing local businesses to expand and create jobs

• Revitalize communities• Increase the City’s tax base• Enhance the overall quality of life in

Austin

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Eligibility Criteria

• Small business located in Austin• Strong credit-worthiness• Demonstrated financial need• In operation for at least two years• U.S. citizens with no local, state, or federal

taxes in arrears• Commit to job creation

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Small Business Expansion Financing

CDCBank CoA

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Small Business Borrower

$ $

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Major Accomplishments

• Executed athenahealth and Websense agreements resulting in 1,077 new full-time jobs.

• Awarded a Gold Excellence in Economic Development in the category of Responding to Globalization from International Economic Development Council out of all major cities worldwide

• Awarded a Gold Excellence in Economic Development in the category of promoting local business from IEDC out of all major cities worldwide.

• Forged the Toronto-Austin Music Alliance, the first of its kind music-specific trade and export alliance.

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Major Accomplishments

• Awarded a $400,000 ArtPlace America grant to prototype a creative community with Fusebox, developers of thinkEAST Creative District and Bullseye Business Development that will transform the remediated “tank farm” acreage into an Art Village.

• Awarded a $256,500 ArtPlace America grant with GO collaborative and arts partners to map Cultural Assets with 10-ONE District that will coincide with the citywide commercial revitalization strategy.

• Sold the first of four parcels in the Green Water Treatment Plant project for $15.8 million to build 40,000 square feet of retail and office and a 38-story apartment tower.

SBDP Awards

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2014 Graphic Deisgn USA American Inhouse Design Awards – Meet the Lender Business Loan Fair

2013 International Economic Development Council (IEDC) Gold Award – LocallyAustin.org in the Paid Promotion Campaign 2013 International Economic Development Council (IEDC) Bronze Award – LocallyAustin.org in the General Promotion Category

2012 American In House Design Award (Utility Insert, Women’s Luncheon, Getting Connected)

2011 Austin Liveable City Vision Award – Economy 2011 International Economic Development Council (IEDC) Awards – IBIZ Districts in Neighborhood Development Category 2011 International Economic Development Council (IEDC) Awards – SBDP Program in Entrepreneurship Category   2010 Ash Center for Democratic Governance and Innovation, Harvard Institute, “Bright Ideas” (Meet the Lender)

One Texas Center505 Barton Springs Road

Austin, TX 78704

Connect with us on Facebook and Twitter @SmallBizAustinwww.AustinSmallBiz.org

512.974.7800

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Economic Development Department