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2023 ANNUAL REPORT

01Welcome to our 2023 Annual Report — and what an action-packed year it was,not just for the EDC, but for the entire St. Charles County community. Fromcelebrating our small business incubator’s 30th anniversary (below) to theincredible announcement that the MotorTrend Truck of the Year is made righthere in St. Charles County (see opposite page), it’s been a year full ofcelebration-worthy events and exciting news. And did I mention the County setyet another record major development record, with a whopping 7.2 million SF ofprojects 20,000 SF or higher?This report is not just a reflection of our accomplishments as an organizationbut a celebration of what we as a community have achieved together. We aregrateful for your continued support as we strive to unlock new opportunitiesand amplify economic growth in St. Charles County. Message from the President & CEOScott J. Drachnik1

#MadeInStCharlesCountyGeneral Motors had a big year in St. Charles County! The automotive giantcompleted a $1.5 billion investment in its Wentzville facility, the largestprivate investment in Missouri history. It then closed out the year with anexciting announcement from MotorTrend—the 2024 Truck of the Year(announced in late 2023) is the Chevy Colorado, made at GM Wentzville! 2

Business FinancingBusiness IncubationCommunity MarketingBusiness CounselingPublic PolicyBusiness Attraction, Retention, & ExpansionThe EDC is committed to its missionof being a catalyst fostering growthand success in St. Charles Countyand metro St. Louis. MissionThrough its six core services,the EDC supports businessgrowth, job creation, and astrong tax base to sustain andimprove the quality of lifeenjoyed in this part of the St.Louis region.Core Services3

IDA Management4%504 Loan Revenue38%Incubator Lease Revenue28%MO' Cowbell Marathon17%Government Contracts10%Sponsorships/Misc.3%2023 Budgeted RevenuesThe EDC sustains its six core services through seven primary revenue streams, with thetwo most significant contributors being the 504 loan program and lease paymentsfrom EDC Incubator tenants.Governmental contracts constitute approximately 10% of our annual budget of $2.6million. We are proud to have longstanding partnerships with key governmentalentities, including Saint Charles County Government and the cities of Cottleville,Dardenne Prairie, Lake Saint Louis, O’Fallon, Saint Charles, Saint Peters, WeldonSpring, and Wentzville. For 2024, we are proud to welcome the City of Flint Hill to ourlist of partner governments. 4

The communities of St. Charles County are consistently included onMoney Magazine’s list of the 100 Best Places to Live in the US. St.Charles County enjoys Missouri’s second-lowest cost of living and isconsidered one of the most affordable large US cities in the U.S.Quality of PlaceGrowthSt. Charles County is the fastest-growing county in Missouri, addingapproximately 5,000 new residents each year. It is home to nearly 40%of all new single-family homes in the STL metro and generated morethan 40% of all new regional job growth in the last decade.TalentWith growth comes talent availability, a key consideration forcompanies considering growth or expansion. Additionally, the County’slocation within the St. Louis metro area provides access to an additionalworkforce population of over 1 million. InvestmentSt. Charles County is home to the largest private investment in Missourihistory, GM’s $1.5 billion investment in its Wentzville Assembly Plant. In2023 alone, the County was home to 7.2 million SF of majordevelopment projects.BusinessAttraction EffortsThe EDC aggressively promotes St. Charles County developmentopportunities to site location consultants and corporate decision-makers by highlighting four key metrics.5

Every month, as part of the EDC’s businessretention efforts, it convenes an EconomicDevelopment Roundtable meeting thatbrings together economic developers,community and education leaders, utilitiesrepresentatives, Chambers of Commerce,and other various local stakeholders. About half of these gatherings take place off-site at organizations recommended byRoundtable members for recognition. Duringthese meetings, host groups are honored fortheir growth and success in St. CharlesCounty. Honoring Growing Local Organizations6

0 10 20 30 40 50 60ManufacturingWarehouse/LogisticsService SectorITSpecial Use/TourismUndisclosed/OtherOfficeAerospace & DefenseAgriBusiness2023 Business Attraction Leads by Sector52109997421In 2023, we collaborated with the Roundtable and other stakeholders on 103 businessattraction leads, up from 92 in 2022. Manufacturing accounted for the majority of theleads for the third consecutive year. Of those leads, 46% were generated in-house bythe EDC, with the rest referred by other economic development organizations andcommunity partners.7

Out of those 103 leads, the EDC played an active or support rolein three attraction projects that landed in St. Charles County. 2023 Project WinsSourceOne Solutions is building a new37,500 SF headquarters and high-techproduction facility on Highway K inO’Fallon.St. Charles County Government purchasedthe 54-acre National Equestrian Center thatattracts visitors from around the countryand will operate it as a county park.An international firm with regional operations closed on a $13M purchase of the138,000 SF former Enterprise Holdings office building in Weldon Spring. 8

2023 Total SBA 504 ActivityTotal LoanDisbursements(all regions)$45M Total Investment229Jobs Created14Companies ServedSt. Charles CountyDisbursements**$26MTotal Investment113Jobs Created3Companies ServedTotal Investment$46.7MTotal Project Investment414Jobs Created20Companies ServedSt. Charles County SBA 504 Impact 2021-2023The SBA 504 program is a long-term financing tooldesigned to stimulate economic development and jobcreation. It achieves this by providing small businesseswith affordable, fixed-rate financing for major fixed assetssuch as real estate and equipment. Financing Business GrowthProud to be the St. Louisregion's top SBA lender in 2023 **Ranking compiled by the St. Louis Business Journal based on total SBA loan production in 2023.**Hampton Inn & Suites, St. Charles City | Kokomo Joes, St. Peters | Poppy & Pine, Wentzville9

$42.9MTotal Project Investment$34MIndustrial Reveue BondsOver the years, the EDC has helped hundreds of St. CharlesCounty organizations access over $1 billion in tax-exemptbond financing for qualified projects through the IndustrialDevelopment Authority (IDA). Eligible industries include:Largest IDA Financing EverReserve at SpencerIn 2023, the EDC worked with Indianapolis-based TWGDevelopment on the largest project in IDA history, Reserve atSpencer, an affordable multi-family development in St. Peters.ManufacturingNon-profit 501 (c) (3)Special taxing districtMulti-family housing (income guidelines)10

SmallBusinessIncubationSuccess2023 Incubation by the Numbers"Starting a business isn't for the faintof heart, and it can be expensive. TheEDC’s small business incubator allowsentrepreneurs an affordable way totest their ideas and grow theircompanies at scale without riskingtheir family's financial security.”Craig FrahmCFO & Incubator Manager2Tenant Expansions10New Tenants Tenant Graduations4**All four graduating tenants remained in St. Charles County: Carla Powderly Counseling and Two Bridges Counseling,O’Fallon | Linda Rombach Personalized Cleaning, Weldon Spring | Steadfast Support Services, St. PetersAfter spending over a decade growing hercompany, entrepreneur Linda Rombachofficially graduated from the EDCIncubator and opened Linda RombachPersonalized Cleaning in Weldon Spring.Graduate Spotlight11

INCUBATIONSMALL BUSINESS1993EST.years2023Since the EDC incubatoropened in 1993, hundreds ofbusinesses encompassingthousands of jobs havelaunched in the incubator andgone on to flourish in thecommunity.1993The EDC provided facilities, funding,and a proper road map to catapultSYNERGY Medical to a national brandproviding supplies and equipment toover 5,000 healthcare facilities.Jeremy BuchheitIncubator AlumniPresident, SYNERGY Medical 12

900+Total 2023 Event Attendees*The EDC hosts events throughout the yearto support local and regional economicdevelopment efforts. Some of oursignature events include the EconomicDevelopment Awards Luncheon, STEMAwards Breakfast for high-achieving localhigh-school students, and our annualholiday networking event.This year we were also pleased to hostGovernor Mike Parson and the HawthornFoundation for a business roundtableevent.Outstanding Events*Not inclusive of the MO’ Cowbell Run13

$10,000 inSTEM FundingAwarded toLocal TeachersFor three consecutive years, theEDC has collaborated with Partnersfor Community Progress and otherlocal organizations to award RandySchilling STEM Educator Grants topublic and private school teachersin St. Charles County. In 2023, a totalof $10,000 was awarded to 11 localteachers.The students learned so muchabout different types of bonefractures from the kitspurchased using the grantawarded from the RandySchilling Foundation throughthe EDC. These orthopedic kitsare truly amazing and engaging,so much more effective than 2Dpictures for learning.2023 Grant Winner$26,000Total Grant Impact | 2021 - 202314

Total Runners4,992YOY Increase20%States 39Countries2Race Day by the NumbersThe EDC is proud to host one of the region’s premierrunning events right here in St. Charles County. TheMO’ Cowbell Run is one of the EDC’s public policyinitiatives and draws thousands of runners andspectators from around the world to our communityeach year for a health and fitness-focused weekend. Participation in 2023 was on par with the event’shighest-ever turnout of just over 5,000 runners in 2019. Near-Record Turnout for MO’ Cowbell Run15

507KSocial Media Impressions (all channels)6.8KFollowers(all channels)Follower Growth(LinkedIn)31%12.4KPost Clicks(all channels)1,000+Graphics Created40%+Average Email Open RateAmplifying the MessageThe EDC’s marketing and communications efforts contribute to the promotion ofall EDC services, including the MO’ Cowbell Run. They also showcase St. CharlesCounty accolades and development opportunities to corporate decision-makersthrough a mix of earned media, organic and paid strategies on social media, emailmarketing, and direct outreach.16

When companies consider growing orrelocating, workforce availability is at theforefront of those discussions. To addressthese concerns, the EDC created newtalent attraction-focused pieces for itscollateral library, including print, socialmedia, and digital resources for bothinternal and stakeholder use.In 2023, the EDCcontinued to sharetestimonials from localbusiness leaders abouttheir all-in commitmentto St. Charles County. Nationally recognizableproducts made locallywere also highlighted onsocial media andcollateral materials using #MadeInStCharlesCounty.Amplifying the MessageThe Transportation Handling Cradleused to move Sierra Space’s DreamChaser spacecraft between testingfacilities and to stabilize it during pre-flight testing was manufactured in St. Charles County by Seyer Industries.17

EDC BOARD OF DIRECTORSPARTNERS FORCOMMUNITYPROGRESSSINDUSTRIALDEVELOPMENTAUTHORITY504 LOA NCOM M ITT E EFIN A NCE & A U DITCOM M ITT E EGOV E RNA N CE & P E RSO N NELCOM M ITT E EFAC I LIT I ESCOM M ITT E ESTE MEDU C ATI O NCOM M ITT E ESTR A TEG I CINI T IAT I VESCOM M ITT E EMAR K ETI N GCOM M ITT E ESPE C IAL EVE N TSCOM M ITT E EECO N OMI CDEV E LOP M ENTROU N DTA B LEEXE C UTI V ECOM M ITT E EOrganizational Structure& 2023 Board of Directors*members whose t e r m s b e g a n in December 20 2 32023 EDC Board Executive CommitteeChair: Dan Fitter, Quest Specialty ProductsVice Chair: Ken Gumper, Enterprise Bank & TrustImmediate Past Chair: Keith Schneider,Cushman & WakefieldTreasurer: Tom Dempsey, First Capitol AdvisorsSecretary: Michael Snowden – City of O’FallonLuanne Cundiff: First State Bank of St. CharlesLarry Dobrosky: City of St. CharlesJohn Greifzu: St. Charles County GovernmentDr. Barbara Kavalier: St. Charles CommunityCollegeBill Malach: City of St. PetersMark Seyer: Seyer Industries2023 EDC Board of DirectorsJulie Bartch: IDAJennifer Bonacorsi: jBloomJake Brooks: SSM Health St. Joseph HospitalGina Calder: Barnes Jewish St. Peters Hospitaland Progress West Hospital*Jim Curran: Curran Strategic PartnershipsGeorge Ertle: City of Lake Saint LouisDiana Forbes: General Motors WentzvilleRich Francis: City of CottlevilleNorma (Boozer) Harris: US BankJames Knowles III: City of Dardenne PrairieKen Kozma: St. Johns BankTom Kuhn: IDADoug Lee: City of WentzvilleSean Mullins: World Trade Center STLMichael Padella: City of Weldon SpringDr. John Porter: Lindenwood UniversityDennis Sargent: City of Flint Hill*Shawn Vickers: New Frontier BankDavid Zucker: IDA18

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