07/30/2024 ECONOMIC DEV AND INDUSTRIAL COMMITTEE Minutes

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Mashpee Economic Development Industrial Corporation (EDIC) Minutes – July 30, 2024 6:00 PM Waquoit Meeting Room Present: Carol Sherman, Denise Dutson, Pamela McCarthy, Patrice Pimental, Glenn Thompson Absent: Robyn Simmons 1. Call Meeting to Order Carol Sherman opened the meeting at 6:06 p.m. 2. Approval of 6/25/2024 minutes Denise Dutson moved that the committee approve the 6/25/2024 minutes, Glenn Thompson seconded, the committee approved. 3. Finance Report: The money market account has a balance of $112,042 and the checking account balance is $20,984. 4. Contest: The committee further discussed what a competition for businesses in town would look like. Carol Sherman wanted to make sure the committee wasn’t duplicating the efforts of EforAll or Rockland Bank; Patrice pointed out the focus on Mashpee and how the EDIC can support business would set it apart from other events and competitions. Patrice suggested the name be called Educate Dream, Inspire and Create—it would replicate the EDIC acronym but would also explain what the EDIC does for businesses. Carol said that Julie Quintero-Schulz of the Mashpee Chamber of Commerce was excited about the idea and would gladly partner with the EDIC, providing social media and marketing support through the Chamber. Timeline:  12/31/2024 – 2/1/2025 Application submissions  2/1/2025 – 2/28/2025 – Applications are reviewed; those who make the next step are invited to record their pitch at Mashpee TV. Judges would include business representatives from the community.  March 2025-Winners will be announced at the Chamber dinner. After submission, the EDIC will review submitted entries that meet eligibility requirements and evaluate them based on the following: 1) Answers questions completely and thoughtfully (rated 1-10) 2) Discusses how the business will use the money (rated 1-10) 3) Understanding of marketing and competitive advantages (rated 1-10)