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Economic Development

Our Mission

A world-class Economic Development Department committed to attracting and growing business and cultivating relationships that together create a thriving business environment.

Performance Improvement Summary

Economic Development’s primary focuses include the attraction of businesses to Louisville, expansion of the city’s existing businesses, and small business development.  The department, formerly known as Economic Growth & Innovation, was part of a groundbreaking reorganization in July 2014 that resulted in the creation of Louisville Forward.  Economic Development has explored several metrics related to attraction and expansion and has chosen the number of new jobs created and the average wage of those new jobs, for both completed deals and potential deals in the pipeline, as KPI’s to measure attraction and expansion efforts.  Identifying the most meaningful metrics for the department is challenging due to macro-economic factors affecting the local economy being outside of the control of the department.  Also, a primary component of the work of Economic Development is relationship-building, thus making it more difficult to measure performance.

Economic Development is rising to the challenge of finding the most appropriate and meaningful metrics.  Based on research and to align more closely with other economic metrics, the department changed from measuring its metrics monthly to quarterly.  Economic Development is improving the way it tracks information about its work by utilizing SalesForce, a software system that helps track economic information about the Economic Development team’s projects.  The department is currently reviewing the data collected in SalesForce and is discussing ways to improve data collection and analysis.

Statistics Archive

Metrics

Economic Development KPIs
Measure Current Level Goal Level YTD Statussort descending PDF
Medium to Large Deals in Pipeline- Attraction: Average Wage $ 48,278 $ 46,222
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PDF icon ED LouieStat KPI Report Forum 12_Part16.pdf
Medium to Large Deals in Pipeline- Expansion: Total # Jobs 21,092 jobs 7,700 jobs
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PDF icon ED LouieStat KPI Report Forum 12_Part17.pdf
Jobs Created from Closed METCO Loans 915 jobs 500 jobs
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PDF icon ED LouieStat KPI Report Forum 12_Part19.pdf
Amount of Approved METCO Loans $ 78,685,904 $ 66,000,000
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PDF icon ED LouieStat KPI Report Forum 12_Part20.pdf
Percent of METCO Loans Past Due 30 days 1.39 % 3.00 %
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PDF icon ED LouieStat KPI Report Forum 12_Part22.pdf
Completed Medium to Large Deals-Attraction: Total # Jobs 5,405 jobs 2,365 jobs
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PDF icon ED LouieStat KPI Report Forum 12_Part11.pdf
Completed Medium to Large Deals- Attraction: Average Wage $ 52,598 $ 45,937
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PDF icon ED LouieStat KPI Report Forum 12_Part12.pdf
Percent of METCO Loans Past Due 90 days 1.16 % 5.00 %
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PDF icon ED LouieStat KPI Report Forum 12_Part23.pdf
Completed Medium to Large Deals- Expansion: Total # Jobs 11,181 jobs 5,500 jobs
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PDF icon ED LouieStat KPI Report Forum 12_Part13.pdf
Medium to Large Deals in Pipeline- Attraction: Total # Jobs 24,505 jobs 3,300 jobs
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PDF icon ED LouieStat KPI Report Forum 12_Part15.pdf
Medium to Large Deals in Pipeline- Expansion: Average Wage $ 44,387 $ 46,222
R
PDF icon ED LouieStat KPI Report Forum 12_Part18.pdf
Amount of Closed METCO Loans $ 9,809,891 $ 15,000,000
R
PDF icon ED LouieStat KPI Report Forum 12_Part21.pdf
Completed Medium to Large Deals- Expansion: Average Wage $ 44,157 $ 45,937
Y
PDF icon ED LouieStat KPI Report Forum 12_Part14.pdf
Enterprise KPIs
Measure Current Level Goal Level YTD Statussort descending PDF
Employees w/ High Sick Leave Consumption 0 employees 0 employees
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PDF icon ED LouieStat KPI Report Forum 12_Part7.pdf
Hours Lost Due to Work Related Illness and Injury 0 hours 0 hours
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PDF icon ED LouieStat KPI Report Forum 12_Part8.pdf
Lost Time Injury Rate 0 0
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PDF icon ED LouieStat KPI Report Forum 12_Part9.pdf
Turnover Rate 24 % 25 %
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PDF icon ED LouieStat KPI Report Forum 12_Part10.pdf
Dollars Spent on Overtime $ 0 $ 0
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PDF icon ED LouieStat KPI Report Forum 12_Part4.pdf
Overtime Hours Paid 0 hours 0 hours
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PDF icon ED LouieStat KPI Report Forum 12_Part5.pdf
Hours Not Worked 1,361 hours 1,714 hours
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PDF icon ED LouieStat KPI Report Forum 12_Part6.pdf

Legend

  • Performance Meets Goal
  • Performance Approaching Goal
  • Performance Off Goal
  • Non-Scored / Informational
  • Goal Not Set