Manage Economic Development

When the business is ready to apply, a guided application form walks them through the process step-by-step. And based on information provided, specific programs can be recommend. With completed eligibility information an initial program determination can be sent directly to your staff. And because application data is validated and mandatory documents are uploaded during application, your staff no longer needs to engage with incomplete applications.

Next: Click on “More…” then “Manage Economic Development Programs”

Economic Development Officers can start their days looking at key metrics such as fund spending, jobs created, businesses assisted and more to determine the overall success of the organization. Home screens can be easily customized to include other components such as a list of all the new applications, funding programs, and provide a space for collaboration.

Next: Click on “More…” then “Track Opportunities”

As businesses apply for multiple funding requests, the Economic Development Officer gains a wholistic view of the business and their needs. They can see begin to make decisions on the ROI for this opportunity, amount of the opportunity, project close date, and leveraged fund ratio - the ratio of how our organization’s public funds are boosting the private investment coming from the company itself. On the right, is the direct economic impact of the opportunity.

Next: Click on “More…” then “Gain Transparency of Businesses”

As opportunities move through the different stages, Salesforce allows us to use data to drive our business processes. When applications move to the underwriting stage - an integration built with the power of Mulesoft can check multiple data sources for background information, whether it’s state agency data, a private background check service and more. This can help determine whether or not to help fund a business.

Next: Click on “More…” then “Disbursement and Financial Approval”

Once an application has been approved for funding, coordinators can easily schedule disbursements and tie them to key milestones that the business must complete before being issued funding. Coordinators have the ability to setup a disbursement schedule and automate the payment records or, create one-off disbursements as necessary. Once a record is created an approval process is kicked off to ensure agency approval and accounting policies are followed.

Next: Click on “More…” then “Track Programs”

Track all current projects you are working on to attract businesses. The development officer is able to see how much money the program has available, the total of awarded fund, remaining funds, and the incoming project pipeline. At a high level, the agency can establish and track if the funded businesses are meeting their obligations and if they are on target to achieve their objectives. Businesses can establish and track agreed to objectives over time for continual insights into project goals and measurable outcomes.

Next: Click on “More…” then “Maps”

Salesforce Maps can help determine the impact of different programs across a region. By showing a heat map of where funding is spent, a determination can be made about additional funds for the region. This also help with ensuring equity and distribution across the locale and in making decisions on which areas to target next.

Next: Click on “More…” then “Give Mobile Access”

Access important information from anywhere on any device in the field. Development officers can update records, see key details, and collaborate on the go from the Salesforce mobile app.