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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
Measuresort descending Current Level Goal Level YTD Status PDF
Amount of Closed METCO Loans $ 2388500 $ 3000000
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part50.pdf
Completed Medium to Large Deals- Attraction: Average Wage $ 52983 $ 46061
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part41.pdf
Completed Medium to Large Deals- Expansion: Average Wage $ 48323 $ 45979
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part43.pdf
Completed Medium to Large Deals- Expansion: Total # Jobs 5070 jobs 3440 jobs
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part40.pdf
Completed Medium to Large Deals- Expansion: Total # Jobs 14249 jobs 8000 jobs
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part42.pdf
Jobs Created from Closed METCO Loans 198 jobs 100 jobs
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part48.pdf
Leverage $ 14499400 $ 24000000
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part49.pdf
Medium to Large Deals in Pipeline- Attraction: Average Wage $ 51794 $ 46360
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part45.pdf
Medium to Large Deals in Pipeline- Attraction: Total # Jobs 37833 jobs 5280 jobs
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part44.pdf
Medium to Large Deals in Pipeline- Expansion: Average Wage $ 47235 $ 46360
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part47.pdf
Medium to Large Deals in Pipeline- Expansion: Total # Jobs 37164 jobs 12320 jobs
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part46.pdf
Percent of METCO Loans Past Due 30 days 1.14 % 0.25 %
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part51.pdf
Percent of METCO Loans Past Due 90 days 14.2 % 0.4 %
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part52.pdf
Enterprise KPIs
Measuresort descending Current Level Goal Level YTD Status PDF
Dollars Spent on Overtime $ 0 $ 0
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part35.pdf
Hours Lost Due to Work Related Illness and Injury 0 hours 0 hours
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part38.pdf
Hours Not Worked 729 hours 963 hours
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part37.pdf
Lost Time Injury Rate 0 0
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part39.pdf
Overtime Hours Paid 0 hours 0 hours
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PDF icon LouieStat 16_Econ Dev_Prework_10-4-2018_Part36.pdf

Legend

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