|
Back to Calendar
Return
|
| |
Consent-General Government # 11.
|
| Board of Supervisors |
County Administrator |
|
|
|
| Subject |
| Adopt resolution approving the 2020 Greater Sacramento Region's Comprehensive Economic Development Strategy. (No general fund impact) (Blacklock/Tengolics) |
| Recommended Action |
| Adopt resolution approving the 2020 Greater Sacramento Region's Comprehensive Economic Development Strategy. |
| Strategic Plan Goal(s) |
 |
Robust Economy |
|
| Reason for Recommended Action/Background |
A Comprehensive Economic Development Strategy (CEDS) is a region’s economic roadmap that ensures a strong, inclusive, and equitable economy by bringing together public, private, and civic stakeholders to establish regional goals, objectives, and a plan of action. The CEDS process analyzes existing regional conditions, opportunities, and global economic conditions, leading to a region-specific strategy-driven plan for economic prosperity. The CEDS must be updated every five years to stay relevant with changing economic conditions and to qualify for U.S. Economic Development Administration (EDA) funding assistance under its Public Works and Economic Adjustment Assistance programs. Federal regulations require the Board of Supervisors adopt the attached resolution (Att. A) in order approve the CEDS.
The Capital Region’s previous CEDS, Next Economy, covered 2013-2018. To prepare this subsequent CEDS (Att. B), Valley Vision, Greater Sacramento Economic Council, Sacramento Metro Chamber, and Sacramento Area Council of Governments launched the Prosperity Strategy process in 2018, with the four organizations comprising the Prosperity Partnership, a collaboration model similar to that of the Next Economy. The Prosperity Partnership conducted rigorous outreach in drafting the CEDS including meeting with Yolo County, city, and UC Davis representatives. From this outreach and other research the following six core strategies were identified:
- Be the global leader for entrepreneurs, firms and workforce in food/ag/health innovation.
- Be the global leader for entrepreneurs, firms and workforce in life sciences.
- Be the global leader for entrepreneurs, firms and workforce in future mobility.
- Target infrastructure investment to support economic clusters and market drivers.
- Expand demand-driven, sector-based workforce development, aligned to key opportunity clusters and a more inclusive workforce, prepared for future work.
- Create an environment to be the most business-friendly region in which to operate in the State of California.
By focusing on these core strategies the Sacramento Region can compete more successfully against other mid-sized markets by adding value and building upon our unique strengths and opportunities to further our inclusive economic development goals. These strategies will also serve as a starting point for evaluating and implementing the County's Robust Economy strategic plan goals. |
| Collaborations (including Board advisory groups and external partner agencies) |
| Valley Vision, Sacramento Area Council of Governments, Sacramento Metropolitan Chamber of Commerce, Greater Sacramento Economic Council |
|
| Fiscal Impact |
|
|
| Source of Funds for this Expenditure |
|
|
|
|
|
|
|