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Letter from the Chairman

"The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails."

John Maxwell

From the moment former SEDA President and CEO Rick Winger (2001 – 2010) announced his retirement, we have certainly had to make some adjustments. I couldn't have been more pleased with the succession planning and search process that followed, involving nearly every member of the board and many other business and government leaders throughout the region in the effort to reposition the organization and find the right replacement.

There have been a few course corrections since then, but I believe we are finally on target. And while establishing the right leadership with the hiring of Trip Tollison as President and CEO may be the most critical thing we have achieved in the past year, there have been other notable changes and achievements.

First and foremost, we have built a great team with talented and dedicated new and longtime staff members. We have a clear and ambitious business plan, with accountability and measurement built in. We have advanced our relationships regionally and at the state level. We launched SEDA Innovations to help create businesses and jobs by preparing new and expanding businesses for capital investment and connecting them to that capital. We have had a very successful first full year of operation of the World Trade Center Savannah and renamed our office building World Trade Center Savannah, both of which lay a very solid foundation for the future. And we are placing the greatest emphasis on business attraction and retention, the two most important things we do.

As I make the last turn as chairman, I am confident about the future of SEDA. The following report provides a glimpse of all of the work over the past year, work that has established a solid course for moving forward.

David E. Paddison, CPCU AFSB Chairman
President, Seacrest Partners

Letter from SEDA
President and CEO

On behalf of the staff, I thank you for reviewing our 2012 Annual Report. SEDA does not succeed without the efforts and support of many partners and stakeholders doing their part to advance our collective vision for Savannah, Chatham County and the surrounding region to be as economically strong as possible.

I would also like to take a moment to thank SEDA's Executive Committee and Board of Directors for supporting our transition in leadership and for their vision and guidance as we brought last year to a close and welcomed the first quarter of 2013.  I am quite humbled by the confidence placed in our team as we strive to champion SEDA's core mission - creating and retaining jobs and attracting investment.  SEDA has a strong staff in place to continue achieving our traditional goals while embracing the challenges and excitement that come with our new efforts like World Trade Center Savannah and SEDA Innovations.

In 2012, SEDA was pleased to announce $91.7 million in direct investment and 531 new jobs.  This reflects a marked improvement over 2011, which saw $62.9 million in direct investment and 239 new jobs. SEDA is also happy to report that our balance sheet continued to grow in 2012 (with Total Net Assets up 8 percent from 2011); primarily due to our predecessors' forethought and our commitment to fiscal responsibility while working toward the SEDA mission.

Into its first full year, World Trade Center Savannah was full steam ahead, accomplishing far more in the first year of operation than reasonably expected. We also launched SEDA Innovations and began defining SEDA's role in helping to bring much-needed capital to new and expanding businesses and making sure those businesses are investment-ready.

I have often told folks since coming on board last October that the Savannah region is on the cusp of what I feel will be deliberate and solid growth in the years to come.  Please note that the SEDA team stands firmly ready to take on this growth as we strive to market and sell our amazing community.

Finally, I would like to sincerely thank Angela, Brandt, Brynn, Chrissy, Jerald, Jessica, Lee, Leia, Leigh Acevedo, Leigh Ryan, Lory, Mark, Sarah and Tory for welcoming me and for quickly adopting me into the SEDA family.  I am indebted to them for their incredible work and persistence in making SEDA one of the best development authorities in the country.

We are excited about the future and working with you as we move forward.

Trip Tollison President and CEO

Letter from World Trade Center Savannah Chairman

It has been almost two years since fellow SEDA board members Tommy Hester, Steve Green, Scott Center, Brooks Stillwell and I kicked off the effort to explore World Trade Center Savannah's potential. It was our intent to develop an international business development platform specific to the greater Savannah region and make sure it would strengthen our economic development mission to create jobs and attract investment.

Our goals for the effort were to -

  • Help established regional businesses expand internationally
  • Identify more foreign direct investment opportunities for the region
  • Coordinate international connections and opportunities with a focused intent on generating a business result
  • Create a meaningful regional economic development structure
  • Elevate Savannah, as the economic hub of the region, on the world stage
  • Generate revenue to support the effort

After our due diligence, we determined a WTC license offered SEDA the flexibility required to design a structure and strategy that met those goals while also providing a global network and brand value that could be utilized to elevate and advance our mission at a relatively low cost. On Tuesday, September 13, 2011, the Savannah Economic Development Authority Board of Directors voted unanimously in favor of securing a World Trade Center license for Savannah. And on October 12, The World Trade Center Association's Board of Directors approved our application at their General Assembly in Sao Paulo, Brazil.

Since then, it's been full speed ahead. We hired our first full-time staff person in February 2012 and now have three. We established an inaugural board that is growing regionally. We launched a website and developed our first collateral materials. We have attended conferences and trade shows and given dozens of presentations. We hosted international business delegations, offered educational programs to sold-out rooms, supported regional businesses in their efforts to expand internationally, secured investors and are starting to generate revenue. We spent nine months researching our connections to the world and identified targets to begin more proactively marketing the region as a location for foreign direct investment. We have established a presence and a purpose that is meaningful and effective. Our reputation is growing and the feedback has been extremely positive.

Of the many efforts I have been involved with over the years, World Trade Center Savannah is one of my most meaningful that should have an impact for a long time. Growing area businesses internationally and attracting foreign investment here will better ensure our peace and prosperity for the future. If you haven't yet, I hope you will join us.

Eric Johnson Chairman, World Trade Center Savannah
President, Hussey, Gay, Bell & DeYoung

A New Era

"Trip is part of a new generation of leaders... He will bring to SEDA a vision that is long overdue."

Stephen Green,
SEDA Secretary and Treasurer

"Trip Tollison brings a wealth of experience and extensive relationships with our economic development partners at the local, state and regional level... Trip has been involved in nearly all of the major economic development initiatives in Chatham County in the last decade and has worked closely with SEDA staff for many years."

Bob James, SEDA Vice Chairman

Throughout SEDA's history, there have been many phases of prosperity and success corresponding with great leadership. In 2012, SEDA entered a new era with the hiring of Trip Tollison as interim President and CEO. Formerly the chief operating officer and vice president of the Savannah Area Chamber of Commerce and Visit Savannah, Trip came to SEDA with a wealth of knowledge and relationships that immediately propelled SEDA forward. In fact, he was so impressive in his short six months as interim that on April 9, 2013, he was unanimously approved by the SEDA board of directors as the President and CEO.

And Trip is not the only new addition. From the corner office to the front desk, you see a lot of new faces mixed in with those that have been the steady rocks of the organization, albeit with a few new titles and roles.

New faces include Brandt Herndon, a veteran economic development professional who joined SEDA as Vice President of Business Development, Jessica Hood as Project Manager and Leia Pittman as Economic Research Manager.

After working for several years as a consultant to SEDA, Angela Hendrix left her public relations firm to fill the Director of Marketing and Public Relations position.

Also in 2012, World Trade Center Savannah began building its team, adding three new staff members: Leigh Ryan, now Director of Trade Services and Foreign Trade Zone 104, Tory Grubbs, as Manager of Trade Services and Programs and most recently Sarah Smith as Research Specialist.

And finally, SEDA wrapped up the year by welcoming back a familiar face with the hiring of previous employee Chrissy Driggers as Executive Assistant to the President and Office Manager and Lory McDaniel as Receptionist/Administrative Assistant.

Even with all this fresh talent, SEDA is not without institutional knowledge and experience.

Brynn Grant, with SEDA for more than 12 years, was recently promoted to Chief Operating Officer, in addition to her role as Vice President of World Trade Center Savannah. Jerald Mitchell, who served as a project manager for several years is now Director of Innovation. Mark Sprosty, director of finance and administration, has served in that position for two years. And Leigh Acevedo, who started working at SEDA in 2007, has made the transition from research to working with Lee Grimes, a 17-year SEDA veteran, in business retention.

Together, this team is working to move SEDA and Savannah forward.

Business Development

Having companies choose our region for their business is the ultimate goal. Having those same companies stay and grow here is the ultimate reward. Growth by existing businesses makes our region more attractive to prospective companies, serving as indisputable proof of our area's viability. In 2012 SEDA celebrated the growth and achievements of new and existing businesses and enacted new measures to ensure others have every reason to do the same.

Our Business Retention and Expansion Program continued to proactively engage and build meaningful relationships with existing industries, breaking a SEDA record of 101 existing industry visits. Our business attraction team was hard at work with 58 new projects with 35 client visits. The result was 11 announcements/expansions in 2012. Not only does business retention and expansion help the local economy, it also makes our area more attractive to those considering a move here, creating a ripple effect of success for years to come.

Dollar Tree Distribution Expansion


Investment

  • Jan 2011 (Proposed)
  • Jul 2012 (Actual)
  •  
  •  
  • $18M
  • $19.8M


Additional Jobs

  • 68
  • 182
  •  
  •  

"We chose to expand our facility in Savannah, Georgia for a variety of reasons, including the friendly and supportive business environment"

Bob Sasser, President and CEO, Dollar Tree

When Dollar Tree first announced its plans for expansion in January 2011, it included an investment of $18 million and the creation of 68 jobs. In July 2012, with expansion complete, the final investment totaled $19.8 million and 182 additional jobs, adding to the 135 jobs that existed prior to expansion. The 600,000 square-foot distribution center in Crossroads Business Park grew by 400,000 square feet allowing the company to bring in more than 12,000 containers in 2012 through the Georgia Ports Authority's Garden City Terminal at the Port of Savannah.

"We chose to expand our facility in Savannah, Georgia for a variety of reasons, including the friendly and supportive business environment; the Georgia Ports Authority's commitment to customer service and operating efficiency supported by a large carrier base; and the excellent logistics infrastructure made up of the port, the interstate system and the airport," said Bob Sasser, president and CEO of Dollar Tree.

As businesses like Dollar Tree grow, so does the attractiveness of our region to other companies poised to benefit from Savannah's place as a logistics hub that provides global access to customers in markets throughout the world.

Nordic Logistics and Warehousing, LLC
Announces Savannah Location

Phase 1 Size

150,000 sq ft.

Storage Capacity

45,000 pallets

Freezing Capacity

15 M lbs/week

In June 2012, Nordic Logistics and Warehousing, LLC, the largest exporter of containerized poultry in the country, announced its expansion into the Savannah area. The company's state-of-the-art temperature-controlled storage facility includes two phases: phase one is a 150,000 square-foot facility located less than six miles from the Port of Savannah with plans for phase two to begin in 2013.

The facility will allow storage of 45,000 pallets of frozen and refrigerated products, on-site USDA inspection, repackaging, and the blast freezing of 15,000,000 pounds of product per week.

"The project would not have been possible without the support of our customers and the pro-business attitude of our partners at the Georgia Department of Economic Development, Georgia Ports Authority, Savannah Economic Development Authority, Georgia Power, Georgia Quick Start, and the City of Pooler."

Ross Maple, Nordic's Director of Business Strategy

LMI Aerospace Expansion

2003

28.800 sq ft.

2012

86,600 sq ft.

Expansion

111,400 sq ft.

LMI Aerospace is a leading supplier of structural components, assemblies and kits to the aerospace industry serving such clients as Gulfstream Aerospace, Aviation Partners Boeing and Boeing. Since 2003, LMI has grown from a 28,800 square foot facility to its current 86,600 square foot facility and in 2012 announced its expansion to occupy an impressive 111,400 square feet off Coleman Boulevard in Savannah. With the additional square footage come additional jobs, bringing the company's Savannah total to 56 employees. This expansion came on the heels of LMIs completion of a $3.2 million high-speed machining center with a second machining center already in the works.

Gulf States Cold Storage Announces
New Refrigerated Warehouse in Savannah

Poultry Export

1.67 B lbs / year

  • Investment

    $10M

  • Jobs

    60

The Port of Savannah is the world's busiest in terms of poultry exports, moving approximately 1.67 billion pounds of chicken per year. That kind of capability is bound to attract attention - and it has. In October 2012 Gulf States Cold Storage, another company that specializes in frozen poultry, began retrofitting a cold-refrigerated distribution center in Savannah's SPA Industrial Park. The $10 million investment will bring as many as 60 jobs to the area, further validating cold-storage sector growth.

K Machine Industrial Services Expansion

Employees

  • 2004
  • 2012
  • 20
  • 100
  •  
  •  

Expansion

28.800 sq ft.

Since 1993, K Machine Industrial Services has been serving the power generation and outage support needs of a diverse client base including nuclear, gas and fossil fuel plants as well as Duke Energy, Southern Company, Florida Power and Light and Texas Utilities to name a few. The company was acquired by the current ownership in 2004 and since that time has grown from 20 employees to more than 100. In 2012, K Machine announced the expansion of its Savannah facility to include 20,000 square feet of additional production space, which will allow for large machining capabilities and steam turbine repair.

M501GAC Gas Turbine

Months to completion

18

Weight (tons)

300

Since breaking ground in May 2011, Mitsubishi Power Systems Americas, Inc. (MPSA) has moved forward with an aggressive construction schedule for its Savannah Machinery Works. Evidence of that schedule was celebrated in October 2012 when MPSA delivered its first Savannah-built commercial M501GAC gas turbine.

Completed in just 18 months after the $325 million gas turbine manufacturing and service facility was dedicated, the 300-ton turbine is now part of a natural gas power plant operated by Dominion Virginia Power in northern Virginia. It is the first of three such turbines scheduled to come out of the facility in addition to one steam turbine. To date, the MPSA Savannah Machinery Works facility includes a gas turbine component manufacturing area, a service and manufacturing center for turbine rotors, generators, stationary equipment and a gas turbine assembly area.

The Facility

Investment $325 Million

Jobs 500

Size 500,000 sq ft.

When fully complete, the facility will total 500,000 square feet and employ more than 500 people. Not only does the massive turbine delivery signal a notable achievement for MPSA, it also shows the world the enormous (literally!) manufacturing and shipping capabilities unique to our region.

EDGE Fund Grant Does Some Heavy Lifting

Floating Crane

Capacity

500-ton

How do you attract bigger industries to Savannah? Buy a bigger crane! That is exactly what funds from a $3 million OneGeorgia Economic Development Growth and Expansion Fund (EDGE) grant were used to achieve. SEDA was awarded the grant in 2012 and used the funds to assist in the purchase of a 500-ton capacity floating heavy-lift crane. The crane is the most powerful barge-based crane in operation in the southeast allowing the Georgia Ports Authority to handle the heaviest of loads.

SavannahSiteSearch.com Launch

Information is persuasion when it comes to being the site of choice for prospective companies and that is why SEDA, along with GIS Planning, launched SavannahSiteSearch.com in May 2012. Using Geographic Information System (GIS) software, the website provides immediate access to in-depth information on the available properties in the area.

Now data, including dynamic real estate, demographic and industry breakdowns, is available free and instantly, along with a database of available properties with images. "This powerful technology gives Savannah a clear advantage when businesses are considering investing in our region," said Brandt Herndon, vice president of business development for SEDA.

Use your smart phones to connect to SavannahSiteSearch.com using Quick Response codes.

Like SEDA, World Trade Center Savannah exists to help create jobs and attract investment. It has three main goals:

1. Help regional businesses expand internationally.

2. Identify more Foreign Direct Investment opportunities for the region.

3. Generate revenue to support these activities.

Service Offerings

  • Trade and Market Research
  • Trade Advocacy and Consultation
  • Global Education and Networking Events
  • Trade Missions
  • Global Connections
  • International Business-to-Business Matchmaking
  • Foreign Trade Zone 104

"We are advocating for all the Georgia Coastal area and beyond"

Trip Tollison, World Trade Center Savannah president

World Trade Center Savannah is a member of the World Trade Centers Association, a global association of hundreds of World Trade Centers connecting to millions of businesses in countries around the globe.

Through the combined networks of international trade and business development experts, including the Georgia of Economic Development's Trade Division and the U.S. Foreign and Commercial Service, WTCSav meets the specific needs of its partners and clients by providing international market research, business matchmaking and connections to valuable public and private resources, as well as through the planning of strategic trade missions, educational programs and networking events.

"We are advocating for all the Georgia Coastal area and beyond," said Trip Tollison, World Trade Center Savannah president. "A project in Liberty, Effingham, Bryan or Bulloch counties benefits the entire region and we want to make sure our adjacent counties know the WTCSav's resources are available to help them with whatever they may need."

Image Left
Back Row, Left to Right
Thomas Hester, Chad Barrow, Kent Harrington, Anthony Phillips, W. Brooks Stillwell III

Front Row, Left to Right Sylvester Formey, Scott Center, Eric Johnson, Cliff McCurry

Image Right Ann Purcell, Eric Johnson

Board of Directors Announced

In June 2012, WTCSav announced its inaugural board of directors with former state Senate Pro Tempore, Eric Johnson of Hussey, Gay, Bell & DeYoung as chair and Scott Center of National Office Systems as vice chairman.

Today the board includes:

Eric Johnson Chairman
Hussey, Gay, Bell & DeYoung

Scott Center Vice Chairman
National Office Systems

W. Brooks Stillwell III Secretary / Treasurer
Attorney, City of Savannah

Chad Barrow Coastal Logistics Group

Sylvester Formey Vanguard International, LLC

Kent Harrington Greater Savannah International Alliance

Honorable Edna Jackson Mayor of Savannah

Tommy Hester Colony Bank

Cliff McCurry Seacrest Partners, Inc.

Anthony Phillips Grey Wolf Logistics

Daren Pietsh PaR Systems and PaR Marine

Ann Purcell Georgia Department of Transportation Board

Getting Up and Running

SEDA received its license for WTCSav in October 2011 but really got up and running in 2012. Since then the organization has moved quickly and efficiently to begin delivering on its goals. This included the development of a professional staff to oversee daily operations as well as creation of branded marketing materials for use in a variety of professional settings. Specifically, WTCSav created a sales kit, brochure and dynamic website (www.wtcsavannah.org) where the latest information on events, educational opportunities and notable developments can be easily found.

Case Study: Hussey, Gay, Bell & DeYoung

"What we were able to achieve in a few days would have normally taken much longer and cost significantly more."

Hussey, Gay, Bell & DeYoung
Click to read the full article

It wasn't long after WTCSav was granted its license that it had the opportunity to put its international efforts to work for Savannah-based engineering and construction-management firm Hussey, Gay, Bell & DeYoung.

The firm was in search of new offshore markets and WTCSav directed them to a state-sponsored trade show in Istanbul, Turkey. While the show would be beneficial, the firm needed a real partner in the region to be successful there. Hussey, Gay, Bell & DeYoung engaged the team at WTCSav and they worked directly with counterparts in Istanbul to identify potential partners and arrange introductions and meetings.

The WTCSav team also delivered a full report on doing business in the country as well as the engineering and architectural industry specifically. What was most impressive to Hussey, Gay, Bell & DeYoung, however, was WTCSav's ability to arrange a series of meetings with qualified partners to take place in one day at one location. According to Hussey, Gay, Bell & DeYoung, "That was almost unheard of. What we were able to achieve in a few days would have normally taken much longer and cost significantly more."

Left to Right William Hubbard, Honorary Consul John Parkerson Jr. of Hungary, Chris Young, Consul General Annabelle Malins of the United Kingdom, former Consul General Dr. Lutz Görgens of Germany, Honorable Mayor of Savannah Edna Jackson, Honorary Consul Christopher Smith of Denmark, David Paddison, Consul General Hermano Telles Ribeiro of Brazil, Craig Lesser

Bringing the World to Savannah

In March 2012, WTCSav hosted members of the Atlanta Consular Corps including: Consul General Dr. Lutz Görgens of Germany; Consul General Annabelle Malins of the United Kingdom; Consul General Stephen Brereton of Canada; Consul General Hermano Telles Ribeiro of Brazil; Honorary Consul John Parkerson Jr. of Hungary; Honorary Consul Christopher Smith of Denmark; Ian Stewart Vice Consul - Trade and Investment United Kingdom; and Claire Newman, Vice Consul Consular and Corporate Operations United Kingdom. They also hosted executives of the binational Chambers of Commerce focused on business.

During the two-day visits, members met with local businesses, toured SCAD, Gulfstream Aerospace, the Port of Savannah and attended performances of the Savannah Music Festival. They also had the opportunity to meet and tour various companies, including some from their respective countries and spent time discussing trade and investment. In the end, the visits were the ideal opportunity to showcase cultural and business opportunities within our region in order to facilitate trade and friendship among the dignitaries.

World Trade Center Savannah named
"Business Advocate of the Year" by Savannah Morning News

Each year, the Savannah Morning News chooses honorees from a list of nominees submitted by local business leaders. Utilizing broad criteria, from growth and success to philanthropy and community involvement, the staff of the newspaper's business section, The Exchange, chooses those companies and organizations that made major contributions to the local business environment in the past year. In December 2012, WTCSav was selected as Business Advocate of the Year, a fitting and humbling achievement for the organization and all those it serves.

World Trade Center Savannah Global Education and Networking Events

One of WTCSav's many services is to inform and educate businesses and individuals about international markets and how to successfully navigate them. In 2012, seven WTCSav-sponsored events were held, often resulting in standing-room-only attendance as further proof of our region's growing international business interest. The Global Education and Networking Events ranged from Tools of the Trade: Negotiation Skill Sets for Successful International Business to Export Compliance, Documentation and Procedures.

The presentation, Tools of the Trade: Negotiation Skill Sets for Successful International Business, which was held in September. WTCSav, along with the Independent Freight Forwarders, the Custom Brokers Association of Savannah and the Center of Innovation for Logistics presented seminar, which was led by The World Academy, a nationally recognized training organization that offers import/export trade compliance education and training. Specific tools discussed included creating win-win situations, cultural issues and financial issues in international negotiations.

The Export Compliance Documentation and Procedures educational program was held in November. WTCSav introduced attendees to the skills needed to successfully export goods and services to foreign markets. Topics included export compliance management, NAFTA rules of origin and managing export documents. Once again, The World Academy led the seminar, which proved to be so popular that it not only sold out, but WTCSav had a waiting list.

World Trade Center Savannah Year in Review

In 2012, the staff, board and supporters of WTCSav achieved much – and it was only the beginning:

  • Secured four founding investors in diverse fields of manufacturing, shipping and warehousing, business advocacy and engineering/ architecture (as of May 2013 this now includes 16 partners).
  • Created 11 customized country and industry reports for businesses and government partners.
  • Organized and/or participated in seven educational events with partners throughout the region.
  • Started educational initiatives with WTCSav's first five-month internship program in cooperation with Savannah College of Art and Design, Savannah State University, Armstrong Atlantic State University and Georgia Southern University.
  • Initiated by the Savannah/ Hilton Head International Airport, WTCSav began the process of obtaining Foreign Trade Zone 104, which was secured April 19, 2013.
  • Customized protocol briefs on 14 countries.
  • Hosted 49 international delegates from 17 nations, always with a business purpose in mind.
  • Conducted ongoing in-depth research to compile, rank and evaluate the region and Georgia's relationship to the global market and determined five target countries and five countries of interest for 2013.
  • Attended 2012 Americas Regional Meeting in San Diego, with 33 other World Trade Centers.
  • Attended the 2012 WTCA Member Seminar in New York with more than 80 other World Trade Centers.

World Trade Center Savannah Partners

Founding Partner

Platinum Partner

Founding Investors

Corporate Partners

Business Partners

SEDA Innovations

In late 2012, SEDA engaged in the third phase of implementing the vision of fully integrated economic development by establishing SEDA Innovations.

SEDA Innovations' strategy is two-fold, the first being to develop business strategies that help entrepreneurs, existing industry and start-up companies become well vetted, polished and prepared to pitch requests for capital investment. More simply put – "preparing companies for capital." The other is engaging in business development strategies and capital attraction efforts that demonstrate to organic and institutional capital investment organizations that there are opportunities in the Savannah region for consistent and well-prepared deal-flow. Again, more simply put – "Attracting investment capital to our market."

To do this, SEDA Innovations is doing three things: reconnecting the infrastructure that provides support services to entrepreneurs and start-up companies, securing entrepreneurial and start-up activity and securing capital investment partners.

Our innovation activities allow us to support and work with all industries in the area while targeting those in which we are best equipped to achieve success associated with the logistics, aerospace, digital media/interactive entertainment, film, business services and advanced materials material and design industries.

With that in mind, SEDA eagerly supported in the first-ever Season of Innovation in fall 2012. From September through November, Savannah played host to a series of seminars, conferences, festivals and events designed to inspire innovative thinking and explore the creation of better products, processes, services, technologies and ideas.

The events showcased Savannah's many assets that help creative and innovative businesses establish and thrive in the area. From Geekend to the Savannah International Clean Energy Conference, the Season of Innovation celebrated Savannah's emerging position as one of the leading creative centers in the southeast.

Marketing

Though the marketing efforts of SEDA may vary, the goal remains the same: to make our region stand out in the minds of prospective businesses and investors. So each year, rather than adding to the flood of Holiday and New Year's cards that are customary, SEDA has made a tradition of sending cards at Thanksgiving and, Savannah's signature holiday, St. Patrick's Day. This year's collaboration resulted in another unique mailing that its recipients won't soon forget.

Thanksgiving

In business negotiations, it's all about what the parties can ‘bring to the table.' When it comes to Thanksgiving, many of us are celebrating bringing items to the table of a different sort – food! So we combined the two meanings into one card designed to give thanks to all those who have invested in, supported and considered our region while also presenting what SEDA brings to the table by means of brief bios about our talented staff.

St. Patrick's Day

St. Patrick's Day: Each year as St. Patrick¹s Day nears, SEDA begins brainstorming ways to wish its supporters the luck o¹ the Irish while also sending along a signature Savannah product as a small show of thanks. In 2012, that gift was a scented soy candle from Savannah-based Low Country Luxe®. The scent chosen was "Savannah" while the customized packaging included an Irish Blessing that tied the flames of success with that one-of-a-kind Savannah spark for a cheery St. Patrick¹s greeting.

SEDA Mobile Website

In this day and age of smart phone prevalence, it was imperative that the SEDA.org website be optimized for use on mobile devices. So in 2012 SEDA successfully developed a mobile version of its informative online presence so that even on the go, Savannah's economic assets can be readily researched in one convenient site.

Events

Annual Meeting

We kicked off the year with our annual meeting held Jan. 11, 2012 and were honored to have Chris Cummiskey, Georgia's commissioner of economic development, and Chris Clark, president of the Georgia Chamber of Commerce, as our keynote speakers. Both guests, sometimes known as "Chris squared" spent most of 2011 traveling the state to gather input to help fine-tune a statewide economic development strategy.

Topics ranged from taking local businesses global, to the Savannah Harbor deepening project to the role that SEDA plays in keeping our region competitive, commercially attractive and properly positioned for the future. Statewide concern over K-12 education and a prepared workforce were also discussed based on the findings of Cummiskey and Clark. With that as our foundation, we were off and running, ready to build upon past achievements to power tomorrow's goals.

Developers' Day

In January, SEDA hosted state economic development project managers in Savannah for a two-day event focused on Savannah and Chatham County. Guests had the opportunity to tour the Port of Savannah, Gulfstream, and tour and meet with other industries and businesses while learning the latest that our region has to offer new and existing businesses.

2012 Honorees Included:

1893  

The Kennickell Group (120 years)

1903  

Southern States Chemical Inc. (110 years)

1923  

Ashland Hercules Water Technologies (90 years)

1973  

Jackson Printing of Savannah, Inc. (40 years)

Engine Supply Machine Shop (20 years)

1993  

Port City Metals, Inc. (20 years)

Fourth Annual Manufacturing Anniversary Awards

In November, SEDA, along with the Savannah Area Chamber of Commerce, Savannah Morning News and the Business Retention Action Team hosted the 4th Annual Manufacturing Anniversary Awards to honor those manufacturing businesses in the Savannah region that are celebrating significant decade anniversaries of at least 20 years.

Trip Tollison, Kacey Kennickell, Karen Kennickell Wessinger, Trip Kennickell, William Hubbard

Independent Auditor's Report

To the Board of Directors of
Savannah Economic Development Authority

We have audited the accompanying financial statements of the Savannah Economic Development Authority (SEDA) and affiliates, as of December 31, 2012 and 2011, and the related statements of activities and cash flows for the years then ended. These financial statements are the responsibility of SEDA's management. Our responsibility is to express an opinion on these financial statements based on our audits.

The accompanying condensed financial information of SEDA as of and for the years ended December 31, 2012 and 2011 is not a presentation in conformity with accounting principles generally accepted in the United States of America. In our opinion, the accompanying condensed financial information is fairly stated, in all material respects, in relation to the portion of the basic financial statements from which it has been derived.

SEDA has not presented the management's discussion and analysis that the Governmental Standards Board has determined is necessary to supplement, although not required to be a part of the basic financial statements.

Savannah, Georgia
March 21, 2013

Financial Statements

Condensed Consolidated Financial Statements

Assets 2012 2011
Total Assets $32,182,305 $30,080,221
Cash and Cash Equivalents $9,804,312 $9,211,930
Investments $3,811,679 $3,285,561
Capital Assets - Net of Acumulated Depreciation $7,463,276 $7,575,927
Real Property Held for Development $9,522,661 $9,601,091
Other $1,580,377 $405,712
Liabilities 2012 2011
Total Liabilities and Net Assets $32,182,305 $30,080,221
Current Liabilities $1,269,199 $1,002,150
Noncurrent Liabilities $3,862,793 $4,035,528
Total Liabilities $5,131,992 $5,037,678
Net Assets $27,050,313 $25,042,543

Condensed Consolidated Statements of Revenue, Expenses and Changes in Net Assets For the Year Ended December 31, 2012 and 2011

Assets 2012 2011
Total Net Assets - Beginning of Year $25,042,543 $23,906,027
Total Net Assets - End of Year $27,050,313 $25,042,543
Operating Revenue $6,159,145 $4,549,804
Operating Expenses (4,275,721) (3,307,639)
Non-Operating Revenue (Expenses) $124,346 (105,649)
Net Income $2,007,770 $1,136,516

Left to Right Back Row Frank Macgill, Eli Karatassos, Willie Seymore, Eric Johnson, Paul Hinchey, Greg Parker, Shevon Carr, Chad Barrow, Kevin Jackson, Ken Bianco, William Hubbard, Stephen Green, Tommy Hester, Terry Coleman

Left to Right Seated Scott Center, Cathy Hill, David Paddison, Robert James

SEDA Board of Directors

  • David E. Paddison, Chairman
  • Robert E. James, Vice Chairman
  • Stephen S. Green, Secretary Treasurer
  • Chad Barrow
  • Ken Bianco
  • Shevon Carr
  • Scott Center
  • Terry Coleman
  • Thomas Hester
  • Cathy Hill
  • Paul Hinchey
  • William Hubbard
  • Kevin Jackson
  • Eric Johnson
  • Eli Karatassos
  • Frank Macgill
  • Brian Murphy
  • Greg Parker
  • Willie Seymore

Ex-officio

  • Richard Estus
  • Brian Foster
  • Robert L. Harrison
  • J. Clifford McCurry
  • Eric Winger
  • Walter Carson

SEDA Advisory Board

  • Jennifer Abshire
  • Dr. Nelson Baker
  • Dr. Linda Bleiken
  • John Coleman
  • Ricky Deloach
  • Dr. Cheryl Dozier
  • Tony Edgerly
  • Terry Enoch
  • Danny Falligant
  • Curtis Foltz
  • Paul Graham
  • Karen Guinn
  • Ted Henneman
  • Lee Hughes
  • Pete Liakakis
  • Dr. Thomas Lockamy
  • Dr. Kathy Love
  • Monica Mastrianni
  • Sam McCachern
  • Anthony Phillips
  • Joseph R. Ross
  • Jennifer Sawyer
  • David Schwarz
  • Peter Weishar
  • Jim Williams

SEDA Staff

Trip Tollison President and CEO

Leigh Acevedo Business Retention Manager

Chrissy Driggers Executive Assistant/Office Manager

Brynn Grant COO, SEDA and Vice President of World Trade Center Savannah

Lee Grimes Director of Business Retention

Tory Grubbs Manager of Trade Services and Programs, World Trade Center Savannah

Angela Hendrix Director of Marketing and Public Relations

Brandt Herndon Vice President of Business Development

Jessica Hood Business Development Project Manager

Lory McDaniel Administrative Assistant

Jerald Mitchell Director of SEDA Innovation

Leia Pittman Economic Research Manager

Leigh Ryan Director of Trade Services, World Trade Center Savannah

Sarah Smith Research Specialist, World Trade Center Savannah

Mark Sprosty Director of Finance and Administration