Clark County group’s $350K budget to focus on workforce development

The Community Improvement Corp. of Clark County plans to shift its spending over the next five years, with more emphasis on workforce development and retaining current businesses.

CIC board members discussed the agency’s projected 2017 budget during their meeting Thursday.

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The CIC, which is funded with both private and public money, is tasked with attracting and retaining business in Clark County. The agency’s budget will likely be between $340,000 and $350,o00 in 2017, a slight increase compared to this year, said Horton Hobbs, vice president of economic development for the CIC.

The proposed budget hinges on all of the CIC’s existing donors renewing their commitments to the agency for the next year. If not, the budget will likely remain unchanged from 2016, Hobbs said.

That budget isn’t expected to be formally approved by board members until their next meeting on Thursday, Jan. 19.

During a presentation earlier this week, Hobbs pointed out the agency spent about 15 percent of its budget on workforce development from 2012 to 2016. But that figure will likely increase to closer to 33 percent over the next several years.

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The agency will also spend about 33 percent of its budget on retaining existing businesses and helping them expand because between 80 and 90 percent of job growth comes from businesses that already exist in the county.

The CIC will also split about 14 percent of its budget over the next several years between attracting new businesses and conducting research on areas in which the region might learn more about its existing workforce and industries, as well as opportunities for additional growth.

Hobbs outlined the CIC’s five-year goals earlier this week, saying the organization has plans to attract at least 4,000 jobs and at least $250 million in investment over the next several years.

He said as the existing workforce ages, there will be increasing competition as communities vie for highly skilled workers.

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