Manatee County Approves New Performance-Based Contract with Economic Development Corp.
Manatee County commissioners have unanimously approved a new contract with the Bradenton Area Economic Development Corp., marking a renewed partnership after more than six months of separation.
The decision follows the board’s choice in September not to renew the agency’s previous agreement, citing concerns over transparency and return on investment. In January, after a leadership transition at the organization, commissioners directed staff to resume negotiations.
The EDC has undergone significant changes in recent months. Longtime CEO Sharon Hillstrom retired in December, and interim CEO Amanda Parrish was appointed in early 2026. Parrish has since conducted more than 150 meetings with local stakeholders as part of an effort to rebuild trust and strengthen collaboration. Meanwhile, the agency continues a national search for a permanent CEO, reviewing a pool of more than 40 candidates.
The newly approved agreement establishes a performance-based structure totaling $292,450 annually, representing a 13 percent reduction from the prior contract. Payments will be issued quarterly and tied to specific benchmarks, including generating at least 10 qualified business leads per quarter and converting five into active projects. The EDC is also required to submit regular reports and maintain audit-ready documentation.
The contract includes a 30-day termination clause if performance metrics or reporting requirements are not met, a provision aimed at ensuring accountability. The initial six-month period will serve as a baseline phase to evaluate and refine performance expectations.
Funding under the agreement allocates $251,250 toward staffing and $41,200 for marketing initiatives. The organization will continue focusing on five target sectors: advanced manufacturing, aviation and aerospace, corporate operations, sports performance, and technology.
Parrish indicated the EDC currently has 27 active projects in its pipeline and emphasized the organization’s role in connecting businesses with regional resources. Recent activity includes participation in a competitive recruitment effort involving a German manufacturing company seeking proximity to port infrastructure. Representatives from the EDC, Manatee County, and SeaPort Manatee collaborated on a proposal, highlighting the importance of regional partnerships in economic development efforts.
Of the 11 active requests for proposals currently being pursued, seven originated from the State of Florida, reflecting increased engagement at the state level.
The new contract takes effect April 7 and runs through September 30, with an option to renew through September 2027 following evaluation. Commissioners indicated that the revised structure provides greater clarity and accountability, while allowing flexibility as performance benchmarks are refined.