Plug & Play Agreement - College Station Special Session

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Bob Yancy
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In reply to Chrundle the Great • 9:18p, 11/15/24
Chrundle the Great said:
Can you speak to what specifically plug/play will do that entities like Greater Brazos Partnership don't already do for recruiting entrepreneurs?

If the resources at Rellis and TAMU are the selling point, it's not clear what role Plug/Play provides.


Plug and Play is a facilitator. They gather entrepreneurs on one side of a room. They gather investors on the other. In another corner of the room, they gather existing "corporates" like Lockheed Martin, Raytheon and General Dynamics.

The entrepreneurs make their elevator pitch. The investors (venture capital) listen and decide if they're interested and if so, offer seed capital to get the idea off the ground and bring it to market. Simultaneously the corporates assess the entrepreneurs to see if their tech is a fit for their company and if so, snatch them up.

It's very much like the TV show "Shark Tank," albeit without the cameras and the entertainment aspect.

Tactically, the hope is that something new and exciting is discovered, perhaps locates here and creates jobs.

Strategically, the hope is we become a regional hub for innovation and entrepreneurship whereby young, smart entrepreneurs see Aggieland as the place to be. Were that to actually happen, it's Austin Tech or Silicon Valley right here in Brazos County.

Overlay Rellis, with US Army Futures Command here and the proving grounds for testing there, and you have an amped up possibility that an aerospace/defense innovation hub could be established here.

That's the idea. Will that happen? Maybe. Could it fail? Of course. That's the nature of entrepreneurship itself. So again, I made a decision at the margin, as one member of council, that it was worth a shot. I can only give you my word that in the "back room," I asked a lot of tough and challenging questions. The answers I got made it worthwhile, in my opinion, to support it. My colleagues agreed.

This isn't Macys. If it fails, I accept full responsibility for the decision I made.

Respectfully

Yancy
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Brian Alg
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In reply to Bob Yancy • 5:29p, 11/18/24
What would failure look like?
Brian Alg

Brazos Coalition for Responsible Government and Moderator Restraint
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Bob Yancy
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In reply to Brian Alg • 5:39p, 11/18/24
Brian Alg said:
What would failure look like?


Failure = not facilitating the growth of private sector firms and employment, locally, with an overall economic impact sufficient to surpass $250k per year.

Respectfully

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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Brian Alg
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In reply to Bob Yancy • 6:09p, 11/18/24
How are you measuring this?
Brian Alg

Brazos Coalition for Responsible Government and Moderator Restraint
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EliteElectric
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In reply to Brian Alg • 6:14p, 11/18/24
Brian Alg said:
What would failure look like?


The Christian in me says don't do it, the Brazos county resident in me says make the comment
www.elitellp.net/

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maroon barchetta
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6:48p, 11/18/24
I'm also interested in the metrics used to measure this success.
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Tailgate88
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8:24a, 11/19/24
AG
Looks like Bryan is getting in on the Plug-n-Play action as well. And they will be moving their corporate headquarters to Bryan as part of the deal.


Quote:
The Bryan city council joins the Texas A&M system and the local economic development corporation to hire a business that recruits technology start up companies in the defense and aerospace industries.
The council at Tuesday's meeting (November 12), unanimously agreed to give $350,000 dollars each of the next three years to a company called Plug and Play.

Mayor Bobby Gutierrez said Plug and Play "will be able to go around the world and bring in different companies to potentially locate here, develop here, and grow here".

Gutierrez said they learned about Plug and Play during an economic development trip to California, where they "looked at some of their success stories that they've had.", adding "They were the start up with Google. They were the start up with PayPal. They were the start up with truly some incredible stuff that these guys have done."

What used to be called the Brazos Valley economic development corporation, which has changed its name to Greater Brazos Partnership, will also give $350,000 dollars.

And a Texas A&M system division will spend $800,000 each of the next three years.

Plug and Play will relocate its corporate office to Bryan, hire four fulltime employees, and create a four member advisory committee of which two members will be appointed by the council.

https://wtaw.com/bryan-city-council-joins-local-partnership-with-a-california-based-economic-development-recruiting-company/
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Hornbeck
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In reply to maroon barchetta • 10:08a, 11/19/24
AG
maroon barchetta said:
I'm also interested in the metrics used to measure this success.


That's why I said above, I'm not in favor of agreements like this. Plug and Play can say, "well, we didn't have anyone bite…", and the taxpayers are still on the hook to pay them for "facilitating".

The sales guy in me thinks this should be structured like a salesman's compensation. You bring in a company that adds $1M to the local economy, and you get 5%. As the amount goes up from there, your sliding scale goes down, but Plug and Play still makes something for their efforts.

Correct me if I'm wrong, but there has been money paid to Plug and Play up front, with no results as of yet. This feels like a fishing trip or a guided hunt at best.
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dubi
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In reply to Hornbeck • 10:31a, 11/19/24
AG
Sounds like another Macy's to me.
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Bob Yancy
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In reply to dubi • 10:52a, 11/19/24
dubi said:
Sounds like another Macy's to me.


Respectfully, it's not. It's 1/30th the cost of Macy's to the CS taxpayer per annum, and they have to secure two offices (cs and rellis) and staff it with 4 employees. If they don't perform we can cut them loose.

My thought process was, I didn't want to be a councilmember voting against something that Texas A&M, our Econ dev shop, and the CoB were all in on- when I'm the one always harping on more intergovernmental cooperation. I called every city in Texas that uses them. All gave high marks except Houston, and they largely blamed themselves for reasons I won't go into.

As an entrepreneur who sold long ago, I've always been a little dubious of economic development. My default position has been if a private sector venture is going to succeed, it'll do so without assistance. What I've learned over the years though is there is a benefit to having a "Shark Tank" (the TV show) in your backyard. Major Fortune 1000 companies will come to it, evaluate the new tech and see if there's a fit. For the cost of one flight and two hotel nights, these corporates see our community, what we have to offer and evaluate dozens of entrepreneurs in one swoop.

I think it's worth a shot and I stand by the decision.

Respectfully yours,

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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EliteElectric
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In reply to Bob Yancy • 11:23a, 11/19/24
Bob Yancy said:
dubi said:
Sounds like another Macy's to me.

I think it's worth a shot and I stand by the decision.

Respectfully yours,

Yancy
Respectfully, that may have just been a bad choice of words, but "I think it's worth a shot" sounds incredibly tax and spend-ish and not anywhere near the mindset I want from local government. Our tax dollars and billionaires playing around on shark tank are not the same. Mark Cuban can afford to lose a few bucks, we cannot.

My 2c
www.elitellp.net/

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Bob Yancy
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In reply to EliteElectric • 12:56p, 11/19/24
EliteElectric said:
Bob Yancy said:
dubi said:
Sounds like another Macy's to me.

I think it's worth a shot and I stand by the decision.

Respectfully yours,

Yancy
Respectfully, that may have just been a bad choice of words, but "I think it's worth a shot" sounds incredibly tax and spend-ish and not anywhere near the mindset I want from local government. Our tax dollars and billionaires playing around on shark tank are not the same. Mark Cuban can afford to lose a few bucks, we cannot.

My 2c


Fair enough. That did sound flippant and that wasn't my intent. I can only assure you I did a lot of research. I fervently hope my vote doesn't prove to be the wrong decision, and will work to hold them accountable and track results. I've requested to be on the committee appointed to do that very thing.

Respectfully

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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dubi
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In reply to Bob Yancy • 1:00p, 11/19/24
AG
Bob.

Can we lose money on this contract?
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Bob Yancy
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In reply to dubi • 1:32p, 11/19/24
dubi said:
Bob.

Can we lose money on this contract?


Yes. It's possible.

Respectfully,

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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Hornbeck
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In reply to EliteElectric • 1:59p, 11/19/24
AG
EliteElectric said:
Bob Yancy said:
dubi said:
Sounds like another Macy's to me.

I think it's worth a shot and I stand by the decision.

Respectfully yours,

Yancy
Respectfully, that may have just been a bad choice of words, but "I think it's worth a shot" sounds incredibly tax and spend-ish and not anywhere near the mindset I want from local government. Our tax dollars and billionaires playing around on shark tank are not the same. Mark Cuban can afford to lose a few bucks, we cannot.

My 2c


The VC guys who run plug and play can afford to lose a few bucks too, but, they're not. That tells me everything I need to know.

Venture Capital and Private Equity companies (which is a lot of tech) don't do anything that doesn't benefit them. If someone else gets a benefit, that's secondary and tangential. They are not doing this out of the kindness of their heart.
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techno-ag
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In reply to Bob Yancy • 2:01p, 11/19/24
AG
Bob Yancy said:
dubi said:
Sounds like another Macy's to me.


Respectfully, it's not. It's 1/30th the cost of Macy's to the CS taxpayer per annum, and they have to secure two offices (cs and rellis) and staff it with 4 employees. If they don't perform we can cut them loose.

My thought process was, I didn't want to be a councilmember voting against something that Texas A&M, our Econ dev shop, and the CoB were all in on- when I'm the one always harping on more intergovernmental cooperation. I called every city in Texas that uses them. All gave high marks except Houston, and they largely blamed themselves for reasons I won't go into.

As an entrepreneur who sold long ago, I've always been a little dubious of economic development. My default position has been if a private sector venture is going to succeed, it'll do so without assistance. What I've learned over the years though is there is a benefit to having a "Shark Tank" (the TV show) in your backyard. Major Fortune 1000 companies will come to it, evaluate the new tech and see if there's a fit. For the cost of one flight and two hotel nights, these corporates see our community, what we have to offer and evaluate dozens of entrepreneurs in one swoop.

I think it's worth a shot and I stand by the decision.

Respectfully yours,

Yancy
Sounds great to me. This is the kind of partnerships the cities need to be in. Thank you sir for your due diligence in the matter and making a good call.
Trump will fix it.
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taxpreparer
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In reply to Bob Yancy • 2:07p, 11/19/24
AG
Bob Yancy said:
dubi said:
Sounds like another Macy's to me.


Respectfully, it's not. It's 1/30th the cost of Macy's to the CS taxpayer per annum, and they have to secure two offices (cs and rellis) and staff it with 4 employees. If they don't perform we can cut them loose.

My thought process was, I didn't want to be a councilmember voting against something that Texas A&M, our Econ dev shop, and the CoB were all in on- when I'm the one always harping on more intergovernmental cooperation. I called every city in Texas that uses them. All gave high marks except Houston, and they largely blamed themselves for reasons I won't go into.

As an entrepreneur who sold long ago, I've always been a little dubious of economic development. My default position has been if a private sector venture is going to succeed, it'll do so without assistance. What I've learned over the years though is there is a benefit to having a "Shark Tank" (the TV show) in your backyard. Major Fortune 1000 companies will come to it, evaluate the new tech and see if there's a fit. For the cost of one flight and two hotel nights, these corporates see our community, what we have to offer and evaluate dozens of entrepreneurs in one swoop.

I think it's worth a shot and I stand by the decision.

Respectfully yours,

Yancy


Mr. Yancy,

I am confused. Is it two offices (CS and Rellis) or two offices (Rellis and Bryan, per the COB press release, or three offices, one each?

Thanks.
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cavscout96
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In reply to taxpreparer • 3:07p, 11/19/24
AG
taxpreparer said:
I do not know anything about Plug & Play, but A&M pays half and the cities pay half, translates to taxpayers pay all.
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cavscout96
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3:14p, 11/19/24
AG
Quote:
I've always been a little dubious of economic development. My default position has been if a private sector venture is going to succeed, it'll do so without assistance
Should have stuck with your gut.
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Bob Yancy
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In reply to taxpreparer • 5:23p, 11/19/24
taxpreparer said:
Bob Yancy said:
dubi said:
Sounds like another Macy's to me.


Respectfully, it's not. It's 1/30th the cost of Macy's to the CS taxpayer per annum, and they have to secure two offices (cs and rellis) and staff it with 4 employees. If they don't perform we can cut them loose.

My thought process was, I didn't want to be a councilmember voting against something that Texas A&M, our Econ dev shop, and the CoB were all in on- when I'm the one always harping on more intergovernmental cooperation. I called every city in Texas that uses them. All gave high marks except Houston, and they largely blamed themselves for reasons I won't go into.

As an entrepreneur who sold long ago, I've always been a little dubious of economic development. My default position has been if a private sector venture is going to succeed, it'll do so without assistance. What I've learned over the years though is there is a benefit to having a "Shark Tank" (the TV show) in your backyard. Major Fortune 1000 companies will come to it, evaluate the new tech and see if there's a fit. For the cost of one flight and two hotel nights, these corporates see our community, what we have to offer and evaluate dozens of entrepreneurs in one swoop.

I think it's worth a shot and I stand by the decision.

Respectfully yours,

Yancy


Mr. Yancy,

I am confused. Is it two offices (CS and Rellis) or two offices (Rellis and Bryan, per the COB press release, or three offices, one each?

Thanks.


One at Rellis, one in CS. 4 employees.

Respectfully

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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taxpreparer
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In reply to Bob Yancy • 7:21a, 11/20/24
AG
Thank you. This part of the COB statement is what confused me. "Plug and Play will relocate its corporate office to Bryan, hire four fulltime employees, and create a four member advisory committee of which two members will be appointed by the council."
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dubi
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In reply to cavscout96 • 7:56a, 11/20/24
AG
cavscout96 said:
Quote:
I've always been a little dubious of economic development. My default position has been if a private sector venture is going to succeed, it'll do so without assistance
Should have stuck with your gut.
This....
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Bob Yancy
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In reply to taxpreparer • 8:12a, 11/20/24
taxpreparer said:
Thank you. This part of the COB statement is what confused me. "Plug and Play will relocate its corporate office to Bryan, hire four fulltime employees, and create a four member advisory committee of which two members will be appointed by the council."


I think the word RElocate may be incorrect. They will LOCATE a new office with a couple of staffers in each city. Exact locations TBD.

Respectfully

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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maroon barchetta
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9:27a, 11/20/24
Wasn't Research Park going to fulfill some of these same goals?
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Bob Yancy
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In reply to maroon barchetta • 10:19a, 11/20/24
maroon barchetta said:
Wasn't Research Park going to fulfill some of these same goals?


There are actually numerous fragmented programs / initiatives. Part of this new effort is to consolidate all that.

Respectfully

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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maroon barchetta
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In reply to Bob Yancy • 10:39a, 11/20/24
Bob Yancy said:
maroon barchetta said:
Wasn't Research Park going to fulfill some of these same goals?


There are actually numerous fragmented programs / initiatives. Part of this new effort is to consolidate all that.

Respectfully

Yancy


Which private companies are still leasing space at Research Park (which is no longer called Research Park)?

Is there room to get Plug N Play an office over there?
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Brian Alg
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In reply to Bob Yancy • 10:48a, 11/20/24
Bob Yancy said:
an overall economic impact sufficient to surpass $250k per year.

Brian Alg said:
How are you measuring this?

Want to check if your not answering this was an understandable oversight (there is a lot going on here) or if the criteria for successful performance is that
Bob Yancy said:
they have to secure two offices (cs and rellis) and staff it with 4 employees
Brian Alg

Brazos Coalition for Responsible Government and Moderator Restraint
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Bob Yancy
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In reply to maroon barchetta • 11:02a, 11/20/24
maroon barchetta said:
Bob Yancy said:
maroon barchetta said:
Wasn't Research Park going to fulfill some of these same goals?


There are actually numerous fragmented programs / initiatives. Part of this new effort is to consolidate all that.

Respectfully

Yancy


Which private companies are still leasing space at Research Park (which is no longer called Research Park)?

Is there room to get Plug N Play an office over there?


Folks have talked about that location, Century Square, and others in CS. A committee will likely decide that. The committee is specified in the contract with reps from each city. I have volunteered from CS but not sure if I'll be on it. I'd like to help ensure its success while keeping an eye on effectiveness and progress. I'll update this thread if/when I'm selected. Either way I'll be checking its pulse regularly.

Respectfully

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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taxpreparer
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In reply to Bob Yancy • 4:35p, 11/20/24
AG
Bob Yancy said:
taxpreparer said:
Thank you. This part of the COB statement is what confused me. "Plug and Play will relocate its corporate office to Bryan, hire four fulltime employees, and create a four member advisory committee of which two members will be appointed by the council."


I think the word RElocate may be incorrect. They will LOCATE a new office with a couple of staffers in each city. Exact locations TBD.

Respectfully

Yancy


Thank you.
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Brian Alg
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In reply to Bob Yancy • 9:35a, 11/22/24
Bob Yancy said:
I can only assure you I did a lot of research. I fervently hope my vote doesn't prove to be the wrong decision, and will work to hold them accountable and track results. I've requested to be on the committee appointed to do that very thing.


Sorry to be a broken record but I am trying to understand what you are expecting from this deal. Do you have anything in particular in mind with respect to tracking results?
Brian Alg

Brazos Coalition for Responsible Government and Moderator Restraint
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Bob Yancy
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In reply to Brian Alg • 9:42p, 11/22/24
Brian Alg said:
Bob Yancy said:
I can only assure you I did a lot of research. I fervently hope my vote doesn't prove to be the wrong decision, and will work to hold them accountable and track results. I've requested to be on the committee appointed to do that very thing.


Sorry to be a broken record but I am trying to understand what you are expecting from this deal. Do you have anything in particular in mind with respect to tracking results?


Well, most economic development agreements' performance metrics are:

Payroll growth
New taxable property value
New sales tax value
New HOT tax value

The last two could happen, but more likely based on the first two. So growth in jobs and/or payroll, and new property value should any newly created businesses build here. The latter won't happen within a year but if several new startups were formed and many/most stayed here locally, ultimately it likely would and we'll have to track that.

There's a larger economic impact potential. It's quantifiable but not easily- which is the value of our community becoming a new center for entrepreneurship and innovation like a smaller version of Silicon Valley or Austin. If that took hold in the aerospace defense industry here locally, it would dwarf the initial investment given the ultimate returns to our community.

Is that responsive to your question?

Respectfully,

Yancy
My opinions are mine and should not be construed as those of city council or staff. I welcome robust debate but will cease communication on any thread in which colleagues or staff are personally criticized. I must refrain from comment on posted agenda items until after meetings are concluded. Bob Yancy 95
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Brian Alg
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In reply to Bob Yancy • 7:44a, 11/23/24
Thank you. That is helpful to get a better idea where you are coming from.

My economic consultant brain still has questions that would probably lead to suggestions.

  • How will the city get data that speaks to payroll growth and the incremental changes to the other metrics?
  • How will the city discern what changes are the result of this agreement and what would have happened anyway?
  • How will the city determine if the effects of the agreement were worth the $750k for CS/$3.5 million overall?

But if y'all don't want to dig into that, I should probably stop doing free work.

I am glad to know that this deal might be an indication that the city is starting to recognize the incredible potential we have in College Station that is tied directly to Texas A&M. I'd suggest Plug and Play aren't bringing the opportunity, it is already here. But given y'all are committed to going ahead with the agreement, if Plug and Play can be a totem that get's the city to ease the restrictions on university-complementary economic activity near the university, that's great.

Obviously I am frustrated that the shift requires $750k/$3.5 million in taxpayer money. But hey, at least the city is discussing allowing entrepreneurial activity near the campus (finally!) instead of 5 miles away. I pray this is the start of a big shift.

I also hope that y'all pull the right lessons from it. The potential for prosperity in College Station is not tied to VCs and corporations snatching up taxpayer dollars. The potential is in capitalizing on the massive opportunities that go with proximity to that wonderful campus.
Brian Alg

Brazos Coalition for Responsible Government and Moderator Restraint
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