Title
Recommendation to Accept the Economic Development Status Update and Provide Feedback and Direction Regarding Economic Development Efforts and Activities. (Base Reuse and Economic Development 10061810)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
This economic development status report covers the City of Alameda's (City) economic development activities related to the retention, expansion, and growth of businesses in the past Fiscal Year (FY) 2023-24 and highlight the proposed workplan for FY 2024-25.
BACKGROUND
The City's economic development activities are rooted in the 2018 Economic Development Strategic Plan (EDSP), which focuses on the retention, expansion, and growth of businesses in six major sectors:
1. Life sciences
2. Clean, green and high tech
3. Blue tech and maritime
4. Retail and restaurants
5. Tourism and hospitality
6. Artists and small manufacturers
The EDSP can be found here: https://www.alamedaca.gov/files/content/public/v/140/departments/base-reuse-and-economic-development/edsp-2018.pdf
The EDSP also identified critical City services, such as workforce development and the City's permitting processes, that support the retention, expansion, and growth of businesses in Alameda across the major sectors.
This economic development status report is for information purposes only, covering the City's economic development activities for the past FY 2023-24.
DISCUSSION
The City's Economic Development Division works closely with the business community, a vital source of tax revenue as well as high skill, high paying jobs in our six major sectors. Following is a description of the Division's programs and activities throughout the prior fiscal year:
Business Engagement Activities. One of the Division's most important tools is personal familiarity with individual businesses owners and management teams. Having a point of contact with the City and providing continuous suppo...
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