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Economic Prosperity Program Key Indicators <br />Business Retention and Development Sub -Program <br />Goals <br />Promote a thriving business climate that provides job opportunities, facilitates <br />investment, and produces reliable revenue to support City services. <br />Objectives <br />Maintain positive business relationships throughout the community and assist property <br />owners, brokers, and companies in finding locations and/ or constructing new buildings <br />in the City. Attract and retain a diverse mix of businesses that provide good employment <br />opportunities for Louisville residents. <br />INDICATOR <br />UNIT <br />2016 <br />ACTUAL <br />2017 <br />ESTIMATED <br />2018 <br />PROJECTED <br />Context Data and General Information <br />Licensed Businesses' <br />Units <br />882 <br />928 <br />940 <br />Workload <br />BAP Agreements Negotiated <br />Units <br />6 <br />4 <br />4 <br />Meetings Facilitated <br />Units <br />21 <br />21 <br />22 <br />Retention Visits <br />Units <br />34 <br />35 <br />40 <br />Lease Management (Old City Shops, Koko <br />Plaza) <br />Items <br />3 <br />2 <br />2 <br />Efficiency <br />Construction Dollars per BAP Incentive <br />$ <br />$35.28 <br />$35 <br />$35 <br />Incentives per Job Added <br />$ <br />$631 <br />$600 <br />$550 <br />Annual Sales Tax $ per $1.00 BAP <br />Incentive <br />$ <br />$.87 <br />$.90 <br />$.92 <br />Effectiveness <br />New Annual Sales Tax Revenue2 <br />$ <br />$759,670 <br />$1,289,602 <br />$978,080 <br />Vacancy Rates3 <br />Office <br />8.7% <br />7.5% <br />7% <br />Retail <br />4.68% <br />5% <br />7% <br />Industrial <br />4.7% <br />7% <br />6% <br />1 Sales & use tax accounts. <br />2 Year -over -year change of total sales tax revenue. <br />3 Target rate is Office=10% to 15%, Retail=15%, Industrial=10% to 15%. <br />102 <br />