Hear the presentation from MOONSHOT to receive information on its recent, current and future efforts to support entrepreneurs and develop jobs and businesses in Flagstaff through the Innovation Mesa campus, and its business development services.

MOONSHOT has a contract with the City of Flagstaff to provide business development and property management services at the City's Innovation Mesa Campus. There are two buildings at the campus, the Incubator and the Accelerator. The buildings were partially funded through Economic Development Administration grants and are owned by the City. The buildings are subleased at below market rates to new or innovative businesses which comply with grant guidelines and fall within one of the approved sectors. MOONSHOT provides business coaching and development to businesses located on the campus. MOONSHOT also manages the day to day operations of the campus. The campus is a part of the City's efforts to support job growth and prosperity through economic gardening and fostering entrepreneurship.

Scott Hathcock, President and CEO of MOONSHOT, will provide information regarding MOONSHOT's efforts to enhance entrepreneurship and job growth through the contract and partnerships with the City, as well as in other regional, state and national endeavors. He will speak to recent business development initiatives, facility improvements, occupancy, accomplishments, and  intentions in the year to come.

The City pays $268,000 annually for the services MOONSHOT provides. Of this sum, $208,000 is for business development and $60,000 is for building and tenant management services.  The City receives all lease revenues from the campus, and the revenues are used to help pay for the program and pay existing debt for the campus. The program is also funded in part with revenues from Bed, Board, and Beverage (BBB) tax revenues that are set aside for economic development. The BBB tax is the 2% local transaction privilege tax rate on gross revenues of hotels, motels, and restaurants, in addition to the base 2.281% local tax rate.

MOONSHOT's existing Master Lease Agreement was approved in December 2018 and became effective January 1, 2019. It is a 5-year agreement which expires December 31, 2023 unless extended.