Title
Recommendation to Accept an Update on Select Industry Groups from the Economic Development Strategic Plan
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To: Members of the Mayor's Economic Development Advisory Panel
EXECUTIVE SUMMARY
In 2018, City Council adopted the Economic Development Strategic Plan (EDSP) to guide economic development in the City of Alameda (City) over the subsequent five to ten years. The background report for the EDSP includes an analysis of a series of targeted industry groups which form the basis of the business sectors identified for growth in the EDSP.
In this report, staff has updated the initial analysis of targeted industry groups to better understand how these groups are performing. Staff also conducted a more in-depth analysis of two industry groups which have experienced tremendous change in recent years: Eating and Drinking and Biotech/Alternative Energy.
BACKGROUND
The background report for the EDSP identified and evaluated a series of "targeted industry groups" in the City, including:
o Biotech/Alternative Energy
o Eating and Drinking
o High Tech Manufacturing
o Hospitality, Arts, Entertainment, and Recreation
o Maritime Industry and Recreation
o Media, Computer Technology, and Professional Services
o Specialty Food and Beverage Manufacturing
These targeted industry groups form the basis for the business sectors identified for growth in the EDSP. The final EDSP, as well as the background report, can be found at this link: https://www.alamedaca.gov/Departments/Community-Development/Economic-Development/EDSP.
DISCUSSION
Four years after the EDSP was adopted, and two years into the COVID-19 pandemic, the City has updated the initial analysis of targeted industry groups to see how these industries are performing. Figures 1a and 2a in Exhibit 1 show the initial analysis completed for the EDSP, and Figures 1b and 2b show the updated information.
Overall key findings are listed below.
* Since 2017, the Biotech/Alternative Energy and High Tech Manufactur...
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