Trending developments vol 3, issue 4

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Trending developments vol 3, issue 4

  1. 1. Sky Beverage Co. 2 Fall River by the Numbers 3 Wordpress TA Workshop 3 Available Space in CWT Professional 4 Inside this issue: April 2014Volume 3, Issue 4 F A L L R I V E R O F F I C E O F E C O N O M I C D E V E L O P M E N T Trending Developments FROED Board of Directors: Officers Mayor William A Flanagan, Chairman/Ex-officio Frank Marchione, President James M. Karam, Vice President Carlos A. DaCunha, Treasurer Alan F. Macomber, Clerk At-Large Members Joseph Baptista Paul C. Burke Francisco Cabral Nicholas M. Christ Robert Cooper Mark Cordeiro Larry Couto Jerry Donovan Bruce Fernandes Alfredo M. Franco Craig A. Jesiolowski Stephen R. Karam Michael Lund George Matouk, Jr. Paul S. Medeiros Joan Menard Kenneth R. Rezendes Anthony Riccitelli Ron Rusin Joseph Ruggeiro, Sr. James P. Sabra Len Sullivan Ex-Officio Members Daniel Abraham Joseph D. Camara Carl Garcia Craig A. Jesiolowski Atty. William G. Kenney Meg Mayo-Brown John J. Sbrega Corporate Counsel Atty. James W. Clarkin Non-Voting Members Robert A. Mellion FROED Staff: Kenneth Fiola, Jr., Esq. Executive Vice President Stephen Parr, Director of Finance Janet A. Misturado, Director of Administration Louise A. Methot, Financial Services Representative Maria R. Doherty, Network Administrator Lynn M. Oliveira, Economic Development Coordinator Fall River Office of Economic Development One Government Center Fall River, MA 02722 Phone: (508) 324-2620 Fax: (508) 677-2840 http://froed.org On Thursday, April 3, 2014 the Massachusetts Gaming Commission held an open meeting to discuss a myriad of topics including a request to extend the Region C, Cat- egory 1 gaming license ap- plication deadline. The request was sent to the Gaming Commission by rep- resentatives from the City of New Bedford and developer KG Urban who hope to site a resort casino within New Bedford. Representatives from Fall River including Mayor William Flanagan, members of the state delegation as well as Fall River Office of Economic Development Executive Vice President Kenneth Fio- la, Jr. sent letters in opposi- tion of extending the appli- cation deadline as the City of Fall River and Foxwoods Resort Casino were fully committed to submitting the application by the July 23, 2014 deadline. In the letter drafted by Attor- ney Fiola, who has been in- tegrally involved with the project since its inception, (Continued on page 2) MASSACHUSETTS GAMING COMMISSION EXTENDS REGION C GAMING LICENSE APPLICATION DEADLINE Looking for a job? Visit froed.org then select the “Current Employment Opportunities” tab. Next click “Job Search” and this will launch an interactive database. Within this database alone there are currently 791 employment opportunities within a 5 mile radius of Fall River. 791 Jobs Available Above: The proposed Foxwoods Resort Casino location highlighted in yellow
  2. 2. Page 2 Trending Developments (Continued from page 1) notes Fall River’s high un- employment, which would be greatly relieved by the projected jobs associated with the project; Fall River’s long history of ef- forts to bring gaming to Fall River; Foxwoods’ progress on securing a site for the resort casino as well as the City of Fall River and Fox- woods dedication to a time- line that ensures an applica- tion would be submitted by the July 23, 2014 deadline as key reasons to deny the extension request. Attorney Fiola also disputes KG Ur- ban’s principal’s, Barry Gosin, claim that the pro- spect of a tribal casino is causing hesitation and un- certainty among potential partners. Attorney Fiola notes that the “uncertainty surrounding the tribal casi- no is not going away soon” and the implications of a possible tribal casino need to be built into the overall casino development picture. Despite the opposition from the Fall River delegation and the City of Fall River and Foxwoods commitment to meeting the July 23, 2014 application deadline, the Massachusetts Gaming Commission decided to ex- tend the Region C Category 1 license until at least September 23, 2014, which would then push the licensure award date to February 2015. The Massachusetts Gam- ing Commission Ombuds- man John Ziemba noted that extending the deadline would send a signal to ap- plications that “we’re not forcing them to submit an application that isn’t as fully developed as they would like it to be” while Gaming Commission Chairman Stephen Crosby noted, “I think we’re stuck with extending it some because we’d get no proposals with the current deadline.” As for the effect this deci- sion has on the timeline for Fall River’s resort gaming initiative, it is likely that the Community Host Agreement will now be executed by City officials and Foxwoods representa- tives in late April, thereaf- ter a request for a Referen- dum will be sent to the City Council with a Citywide Referendum likely taking place in late June or early July. In March 2014, the Fall River Office of Economic Development approved a $250,000 loan for Sky Beverage Co., a start-up company located on Jeffer- son Street. Sky Beverage Co. is a manufacturer and whole- saler of premium health drinks. In addition, the company has also opened a retail store at the plant that will sell their beverag- es, ice cream and other convenience store items. Sky Beverage will begin operations by producing vitamin water, flavored water, and energy drinks. They will also be offering co-packing services to oth- er bottling companies. A report published by Food Product Design in 2013 notes that the energy drink sector has grown 60% between 2008-2012 and had total US sales of more than $12.5 billion in 2012. Further, it is ex- pected that the sales of energy drinks will grow to a value of $21.5 billion by 2017. The overall growth of en- ergy drinks is mainly at- tributed to new product launches, packaging and expanded retail distribu- tion. Additional economic factors include shifts in the US adult population by age and ethnicity/race. Fall River Office of Eco- nomic Development Exec- utive Vice President Ken- neth Fiola, Jr. is pleased to work with Sky Beverage Co noting, “Sky Beverage has a strong business plan in a sector with great growth potential. Our of- fice is pleased to assist Sky Beverage with this initia- tive and have great faith in their future success.” A total of eight (8) jobs are expected to be needed once the plant is operation- al. These jobs will include machine technicians, a forklift driver and a truck driver. For additional in- formation about Sky Bev- erage Co. and their retail location, visit their website at www.skybeveragestore.com. Region C Application Deadline Extended Energy Drink Start-up Company Locates in Fall River
  3. 3. Page 3 Trending Developments Fall River by the Numbers… Jobs First Revolving Loan Fund - Since 1997 Year # of Loans Loan Amount Private Invest- ment New Jobs Retained Jobs 1997 19 $2,174,125 $4,363,101 164 265 1998 8 $235,000 $2,260,000 38 13 1999 34 $1,558,800 $10,603,592 181 262 2000 31 $2,014,957 $10,925,457 88 47 2001 47 $3,550,000 $13,756,784 54 359 2002 20 $1,599,600 $5,581,600 104 88 2003 32 $2,350,734 $7,136,023 62 173 2004 21 $1,859,000 $17,864,150 176 114 2005 23 $2,133,500 $11,792,700 82 220 2006 12 $851,620 $1,330,000 83 58 2007 22 $1,870,800 $12,622,178 63 219 2008 16 $1,616,200 $8,725,234 89 119 2009 26 $3,700,000 $5,730,450 29 110 2010 20 $2,302,000 $9,945,800 66 363 2011 31 $4,316,000 $9,633,017 149 388 2012 22 $1,560,500 $3,339,525 34 194 2013 14 $995,000 $5,102,025 22 207 Totals 398 $34,687,836 $140,711,636 1,484 2,999 YTD Total 669 $76,722,000 $145,988,025 5,227 9,957
  4. 4. One Government Center Fall River, MA 02722-7700 Phone: 508-324-2620 Fax: 508-677-2840 E-mail: info@froed.org Mission statement of the Fall River Office of Economic Development: Incorporated in 1978 as a 501(c)(4) corporation to promote the prosperity and general welfare of the citizens of Fall River through the stimulation of economic strength and expansion of new and existing business. Keeping Fall River working in Fall River. F A L L R I V E R O F F I C E O F E C O N O M I C D E V E L O P M E N T For more information please visit our website: www.froed.org Page 4 You built your basic WordPress website, but now it’s time to make it shine and add some functionality. This hands -on Intermediate Word- Press Workshop will cover some of the most commonly used plugins, walk you through how to find and select appropri- ate plugins, find and se- lect a theme, and discuss free vs. premium themes. In addition we will cover best practices for security, preparing your site for SEO, and backup and recovery plugins. This FREE event will be held on Wednesday, April 23, 2014 from 4:00 – 6:30 p.m. at the Cher- ry & Webb/UMass Dart- mouth Building, 139 South Main Street – 4th floor, Fall River, MA and is sponsored by the Fall River Office of Eco- nomic Development. Space is limited, so please register on line at www.msbdc.org/semass and click on event calen- dar or call us at 508-673- 9783 x 10. Metered park- ing is available on South Main Street. Additional parking is available for a nominal fee at the Pearl Street garage, which is one block from the building on the corner of Pearl and Anawan Streets. The Fall River Office of Economic Development (www.froed.org) helps businesses evaluate the many advantages of locat- ing in Fall River, offering aggressive incentive pro- grams including low- interest financing, tax ex- emptions, employee recruit- ment and training services, and site selection assis- tance. Funded in part through a cooperative agreement with the U. S. Small Busi- ness Administration. Wordpress Advanced Technical Assistance Workshop Date Topic April 23, 2014 Wordpress 201 May 7, 2014 8 Steps to Successful Invention May 21, 2014 Advanced Google Upcoming Workshops: Offices with a View The CWT Professional Building located at 139 South Main Street is the home of the former Cherry & Webb Department Store. The space has since been converted to retail and office space. Current tenants include Drewbi Salon, Café Arpeggio, UMass Dartmouth, and McDonald Law Offices among others. Conven- iently located across from the new courthouse this space offers con- venience and value. Now available: Two water view offices consisting of 2,250 sq. ft and 3,700 sq ft. A convenient downtown location and beautiful views make this space ideal for professionals looking to expand or relocate. Anyone interested in visiting the available space or learning more about the CWT Professional Building should contact FROED at 508-324-2620.

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