Economic Development Task Force

ECOMONIC DEVELOPMENT TASK FORCE Councilperson, Edward Poteat City Council President, Danielle Browne, Esq. ECONOMIC DEVELOPMENT TASK FORCE Meeting Minutes March 31, 2025 I want to thank everyone who participated in the first meeting of the Economic Development Task Force. I also want to especially thank Mayor Shawyn Patterson Howard for her participation and Council President Danielle Browne for creating the task force. Also, thank you to Director Mack and members of the Planning Department for your help. Below is my summary of the meeting and potential next steps. DATA COLLECTION The committee, rightfully so, has asked for more data concerning the economic condition of the city. Specifically, the committee has asked for information about sales tax revenue by industry to ascertain which business we should seek. I assume the relevant data would be 1. Sales tax revenue by industry 2. Sales tax revenue per capita and per capita compared to other municipalities in Westchester 3. Sales tax revenue of the top 10 or 20 businesses in Mount Vernon If there is more data sought by the committee, please let me know. BUSINESS RETENTION 1. Business Improvement District- Director Mack is seeking to create a Business Improvement District in Mount Vernon. This is a good first step. Although there are currently 2 business associations in the city- The Fleetwood Business Association and the 4th Avenue Business Association ( I hope I got those names right), they could be even more organized and create structures to take advantage of municipal funding opportunities. A BID will also help us assist our businesses in areas currently not addressed by the Chamber of Commerce. 2. Points of Friction- Several task force members inquired about various points of friction for local businesses. The task force should conduct a survey or review information from prior surveys to identify those points of friction. FUNDING OPPORTUNITIES 1. Municipal Funding- There exists substantial funding from the state to assist our downtown district. It includes HCR’s Main Street Program and the Department of States Downtown Revitalizion Initiative. Both programs could substantially change the physical landscape of our downtown area by improving signage and facades amongst other benefits. 2. New Market Tax Credits / Opportunity Zones and the URA- Task Member Post stated that she, when she was director of planning, had initiated a structure to allow for the URA to be a recipient of New Market Tax Credits. Also, Mt. Vernon does have an Opportunity Zone Designation. Both programs can drive substantial private dollars to the city. MARKETING Several task force members stated the need to have a proactive marketing campaign for Mt. Vernon. 1 ECOMONIC DEVELOPMENT TASK FORCE Councilperson, Edward Poteat City Council President, Danielle Browne, Esq. The campaign could include slogans such as “ I love Mt Vernon” or “Mt. Vernon is open for business”. The city could also use traditional and social media for promotion. NEW BUSINESSES Although retaining and helping existing businesses are important, Mt. Vernon will only increase sales tax revenue by attracting new businesses. Task member Neh Koroma stated the benefit of having a movie theatre in the city as an economic driver. Director Mack further stated that new businesses should be taxpayers and that Mt. Vernon has too many cash-based businesses. Finally, task force member Kyle Munoz stated the need to attract industrial or manufacturing businesses while task force member Marsha Gordon stated the difficulty in attracting traditional retail businesses in Mt. Vernon. These points are important for several reasons. Mt. Vernon has substantially underutilized capacity for industrial and manufacturing businesses. The Trump administration, through their tariffs, has given substantial incentives to businesses to bring manufacturing back to America. Mt. Vernon could benefit greatly from this change. Moreover Mt. Vernon due to its central location, would naturally appeal to manufacturing or industrial businesses in the region looking for a central location. Finally, Director Mack discussed the success the city has had in attracting cannabis related businesses to the city. We should build on that success. SUMMARY 1. Gather requested data for the meeting; 2. Create subgroups for the task force- As the task force grows, I want to ensure it remains a WORKING committee. We have many talented and knowledgeable members. Our conversations, as shown on the last call, may become a bit unwieldy unless members are able to more deeply dive into and discuss the subject matter. Please review the topics above and determine which subcommittee you’d like to join . 3. Deadlines and Goals- I’m hopeful we can prepare a list of recommendations and strategies for the Mayor and City Council by June. We would then spend the rest of the year on implementation. Again, thank you for agreeing to be on this committee. The future of our city depends on your active participation. Please share any comments or thoughts. I look forward to seeing you next week. 2