Development Authority OKs budget: Focused on industry expansion
Published 11:00 am Wednesday, July 27, 2022
- The City Council of Valdosta voted Thursday to sign a contract with the Georgia Department of Transportation that will net the city payments of $3,500 in state funds per mile, doled out in equal monthly payments over the next year to pay for the maintenance of 26.58 miles of state roadway within the city limits.
VALDOSTA – The Valdosta Lowndes County Development Authority adopted its 2022-23 operation budget this past week and provided updates on ongoing projects.
Andrea Schruijer, executive director for the Development Authority, noted in the business development report for the July meeting that staff is working with seven existing industries. They include CJB Industries, Langdale Industries, Lowe’s Regional Distribution and South Georgia Pecan.
The Development Authority is involved in possible expansion projects for 2022-23 by helping the companies identify assistance with specific infrastructure needs and economic development incentives to support business operations with capital investments of approximately $57 million and job creation of 165.
The staff is still working on 17 active projects looking to locate the City of Valdosta and Lowndes County with a potential capital investment of $11.3 billion and 7,900-plus new jobs. Schruijer confirmed they are “very large” projects that have been years in the making, hence the high overall investment and job volume.
“We have nondisclosure agreements with the companies we work with, so we can’t go into too much detail about the active projects. However, the industries range from advanced manufacturing, food processing and logistics,” she said.
The full operating budget details:
Revenue
Millage Revenue: $3,300,000
Payment To Authority: $112,600
Rental Income/Land Sales: $68,000
Total Revenue: $3,480,600
Expenses
General Operations
Equipment / Network Maintenance: $5,000
Utilities (Office): $11,000
Janitorial /Lawn Care: $10,000
Office Building Repair and Main: $4,000
Software & Upgrades: $9,500
Automobile Operation & Maintenance: $5,000
Telephone: $17,000
Insurance: $17,000
Taxes & Licenses: $350
Supplies & Maintenance: $10,000
Accounting Costs: $40,000
Bank Service Fees: $3,000
Professional Development: $7,000
Memberships & Subscriptions: $11,000
Special Handling Postage: $900
Legal Costs: $48,000
Travel: $0
Staff Salaries & Benefits: $425,000
Total General Operations: $623,750
Industrial Park Maintenance
Landscaping Maintenance: $85,000
Park maintenance: $0
Utilities (Industrial Parks): $20,000
Total: $105,000
Comprehensive Economic Development
Business Retention and Expansion
Existing Industry Support: $7,000
Existing Entity Corporate Visits: $1,000
IA & Committee Meetings: $1,000
Regional and Local Visits: $500
Total: $9,500
Recruitment
Business Development: $60,000
Locate South Georgia: $5,000
Workforce development: $5,000
Engineering: $40,000
Total: $110,000
Marketing/Public Relations:
Marketing and public relations: $100,000
Total: $100,000
Total Expenses: $948,250
Net Income Before Non-Budgeted Items: $2,532,350
Summary of Year-to-Date Budget Position:
Total Revenues: Over Budget $238,752
General Operations: Under Budget $2,385
Industrial Park Maintenance: Over Budget $2,070
Business Retention and Expansion: Under Budget $7,127
Recruitment: Over Budget $6,703
Marketing/Public Relations: Over Budget $12,121
Total Budgeted Expenses: Over Budget $11,382
Budgeted Net Income: Over Budget $227,370
