$300K Bradenton EDC contract up for vote in Manatee

The Bradenton Area Economic Development Corp. may soon begin receiving funding again from Manatee County. A decision on whether to execute a $300,000 contract with the EDC — to be paid in quarterly installments of $75,000 — is on the agenda for the Manatee County commissioners’ April 7 meeting. 

Consideration of the contract comes more than six months after county officials opted not to renew a previous version.

At the end of September, the EDC’s partnership with the county expired, after commissioners, in a 4-3 vote, opted not to approve the nonprofit's nearly $336,900 contract. Among the chief concerns officials voiced at the time were the lack of information regarding the county’s return on investment and transparency.

In January, commissioners authorized county staff to restart discussions with the EDC, following changes at the agency. In late December, longtime CEO of the EDC, Sharon Hillstrom, retired, followed in early 2026 by the appointment of an interim CEO — Fawley Bryant Architecture COO and Partner Amanda Parrish — and hiring of an executive search firm to find its next leader. Commissioners in January said a new contract was expected to be presented in the next few months.  

The new contract before commissioners at the April 7 meeting spells out various metrics the EDC must meet and outlines expectations regarding ROI. For one, the agency is required to aim for quarterly and annual benchmarks. Each quarter, its target is to receive 10 qualified leads and convert five into active projects. It must track the active projects in a spreadsheet with data like lead intake date, documents submitted and status. It must also respond to site selection inquiries within two business days and conduct 15 business retention and expansion visits each quarter to identify employer risks, expansion or retention opportunities and trends.

The first two quarters after the contract takes effect will be considered “baseline-setting quarters” that will inform discussion and refinement of the performance measures, according to the contract.

Annually, the contract says, the EDC’s goal will be to create 150 jobs, secure $25 million in capital investment and achieve positive annual ROI, determined by taking the capital investment secured via pipeline projects and dividing it by the county’s contract investment.

Since market conditions and third-party actions can influence the annual outcome metrics, the contract stipulates that as long as “required activity metrics, effort and reporting obligations are met and appropriately documented,” failure to meet specific targets will not be considered nonperformance.

In addition to meeting quarterly and annual requirements, the EDC must meet governance and compliance standards and roles and responsibilities outlined in the contract. Among the compliance standards are putting the EDC's annual report on the agency's website, and some of its roles and responsibilities include keeping audit-ready documentation of projects.

The EDC must also meet with the county monthly and provide quarterly presentations to the commissioners. If the EDC fails to meet metrics, comply with standards and responsibilities or submit required reports and documentation, the county can terminate the agreement with 30 days' notice, according to the contract.

The Bradenton Area EDC's budget was $1.13 million for the 2025 fiscal year, the Business Observer previously reported, noting it received 40% of its funding from public partners and 60% from private investors.