Title
Staff Report, Board Discussion and Possible Action on Approval of Labor Market Analysis Agreement with Ernst and Young and Reallocation of Budget Dollars to Fund the Labor Market Analysis
Requested Action
Consider entering into an agreement with Ernst and Young to perform a Labor Market Analysis and approving a reallocation of $50,000 from Project Funds Account to Professional Services Account in the MEDC FY20-21 Budget to cover the cost.
Recommendation
Approve entering into agreement with Ernst and Young to perform a Labor Market Analysis and approve a reallocation of $50,000 from Project Funds Account to Professional Services Account in the MEDC FY20-21 Budget to cover the cost.
Description/History
Labor is one of the most important factors in the site selection process today and the Mansfield labor market is changing as the area continues to grow. In order to gain more in depth knowledge of the Mansfield labor market and be able to better respond to various types of businesses that Mansfield desires to attract to the community, staff solicited the attached proposal from Ernst and Young to perform an in depth labor analysis of the Mansfield market. Ernst and Young's site selection practice is a market leader in these types of studies. The ability to present this type of analysis to a prospective company considering Mansfield as a possible location for a new facility would give Mansfield a significant advantage. In addition, it will help further define the types of industries / companies MEDC should target in their recruiting efforts. At the time this report was prepared staff had not received comments from legal counsel regarding the agreement. A draft copy of the agreement and Statement of Work has been attached. If legal counsel does provide comments, staff will share those comments with the Board during the meeting.
Justification
The ability to present this type of analysis to a prospective company considering Mansfield as a possible location for a new facility would give Mansfield a significant advantage. In addition, it will help further define the types of industries / companies MEDC should target in their recruiting efforts.
Funding Source
4A
Prepared By
Richard Nevins, DIrector Economic Development, 817-728-3652