06 Next Economy Prosperity Plan - City Council - City of Davis

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Work with UC Davis, SARTA, SEED Central and other industry partners to develop an Ag Innovation Center. Pursue dispersed innovation center strategy, including centers at the east and west edges of the City. Maximize benefits of existing inventory and increase supply of flexible business space. Background Next Economy – Capital Region Prosperity Plan The City and UC Davis are participating in a collaborative regional process to develop a Next Economy - Capital Region Prosperity Plan. This plan is to provide a “road map” to strategically align regional resources and efforts to improve our regional economy. The Prosperity Plan builds off of the region’s competitive strengths, defines five overarching goals for regional execution and maps out a set of interlocking strategies and objectives to accelerate job and wealth creation. As stated in the Executive Summary (Attachment 2): “Next Economy poses a region-wide call to action: Mobilize private industry, government, academic and civic leadership to focus on a set of common strategies and actions to accelerate job creation and new investment in California’s Capital Region with the goals of supporting innovation and entrepreneurship, diversifying the regional economy, and improving the business climate for economic growth.” Development of the Prosperity Plan has involved Valley Vision, Sacramento Area Regional Technology Alliance (SARTA), Sacramento Area Commerce and Trade Organization (SACTO), Sacramento Metro Chamber, local and county governments, universities, businesses and nonprofit organizations. First phases of the process included: collection of data on the regional economy and regional industry clusters; prioritization of objectives; and development of the Vision and Goals. Development of an Implementation Plan outlining strategic actions to be pursued is underway and expected to be completed this spring. The final Plan will be comprised of three distinct parts: 1. The Executive Summary sets the strategic framework for the five major regional economic development goals that enables jurisdictions and organizations to participate in implementing particular actions that suit the specific needs of those they serve or their unique capabilities. 2. The Strategic Plan provides the in-depth narrative context behind the goals, strategies and actions. 3. The Implementation Plan will define very specific actions; the lead champions who will drive results; timetables and performance measures. It is intended to be a living document – updated and refined regularly based on changing conditions, market demand, new opportunities or unforeseen challenges. Preparation of a Regional Comprehensive Economic Development Strategy (CEDS) that meets the Federal Economic Development Administration’s guidelines, and satisfies eligibility requirements for federal funding grants is another objective of the effort. 02-26-13 City Council Meeting 06 - 2
The four regional organizations cited above are entering into formal agreements with one another outlining how they will work together to guide implementation of the Prosperity Plan. These agreements will specify the roles, accountability measures, performance obligations and implementation commitments that each of the organizations is responsible to achieve. Request for Resolutions of Support Next Economy’s leadership group is seeking unanimous support for the Prosperity Plan via resolutions or other forms of endorsement from all business, government leaders, education institutions, not-for-profit economic development organizations and private industry in the region. The City of Davis’s economic development goals and priority actions are already aligned with those outlined in the Prosperity Plan. Accomplishment of City and regional economic development priorities will be beneficial to local and regional efforts. The City Council previously reviewed the Executive Summary of the Next Economy Capital Region Prosperity Plan as an informational item as part of the October 9, 2012 Economic Development Update. The Business and Economic Development Commission reviewed the Executive Summary as an informational item at their December 10, 2012 meeting. Adopting a Resolution of Support for the Next Economy Capital Region Prosperity Plan demonstrates the City’s concurrence with the plan and its willingness to engage in development and execution of an Implementation Plan and local actions necessary to achieve the goals. City representatives have and will continue to participate in this effort, including the “Ag/Food Cluster”, and “Innovation” subcommittees. The following excerpts from the plan listing the “Core Business Clusters” to be focused on and new unified “Vision” and “Goals” for the Capital Region confirm their alignment with local priorities. Core Business Clusters Advanced Manufacturing Agriculture & Food Clean Energy Technology Education & Knowledge Creation Information & Communications Technology Life Sciences & Health Services Vision - Within five years, the Capitol Region will be widely regarded as a: 1. Sought-after place for business growth, investment and entrepreneurship 2. Desirable place for young professionals to live, study, work and play 3. Diverse economy renowned for its core business clusters and driven in large part by export activity 02-26-13 City Council Meeting 06 - 3
Page 1: DATE: February 21, 2013 TO: City Co
Page 5 and 6: RESOLUTION NO. 13-XXX, SERIES 2013
Page 7 and 8: Goals The Capital Region Prosperity
Page 9 and 10: Facilitate new domestic business-to
Page 11 and 12: F R E Q U E N T L Y A S K E D Q U E
Page 13 and 14: 5. Why the focus on business cluste

06 Next Economy Prosperity Plan - City Council - City of Davis

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