Title
Recommendation to Discuss Priorities for a New Economic Development Strategic Plan
(Economic Development 10061810)
Body
To: Honorable Mayor and Members of the Mayor's Economic Development Advisory Panel
EXECUTIVE SUMMARY
The last Economic Development Strategic Plan (EDSP) was completed in 2018. The City is now at the stage where it needs to update the existing EDSP to meet the needs of Alameda and set the Economic Development program over the next five years. The new Strategic Plan will include assembling and analyzing data to develop policies, actions, and a roadmap to guide future economic development activity. The purpose of this staff report is to discuss the priorities of the Economic Development Advisory Panel (EDAP) for the City's new Economic Development Strategic Plan, which will inform the content of a Request for Proposal (RFP) for a consultant to support this effort. Staff will return to EDAP each quarter with an update on the work once a consultant is selected.
BACKGROUND
In 2018, the City Council adopted the existing EDSP, which was designed to guide the City's economic development activities over a five to ten year period. The EDSP served as Alameda's roadmap to achieve economic growth, and to improve the quality of life for residents and employees. The overall goal of the EDSP at that time was to focus limited City resources for economic development on the business sectors in which Alameda was an attractive option, there was room for growth, and they complemented Alameda's long-term goals.
When the EDSP was developed, there were ten priority areas that were identified to support Alameda's economic resiliency. The priority areas were divided into two major categories:
Business sectors identified as opportunities for growth
1. Life Sciences
2. Clean Tech, Green Tech, High Tech
3. Blue Tech and Maritime
4. Retail and Restaurants
5. Tourism/Hospitality
6. Artists and Small Manufacturers
Critical services to support the retent...
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