DEPARTMENT: Economic Development
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT: Economic Development Department Growth Strategy Request For Proposals and Tax Abatement Guidelines
SUMMARY:
This presentation will provide an overview and related data regarding the effect of economic segregation on economic competitiveness and a recommended first step towards development of an economic growth strategy. In addition, the Economic and Workforce Development Committee (EWDC) will review the proposed scope for a Request for Proposal (RFP) to begin a multi-year Economic Development Department policy development process which includes studying relevant national best practices, securing community feedback and integration with other SA Tomorrow Comprehensive Plan policy areas such as housing, and transportation in future years.
BACKGROUND INFORMATION:
San Antonio has seen strong growth and has enjoyed a number of national accolades from national publications and think tanks that cite best overall economic performance, entrepreneurial growth and millennial population growth. San Antonio has also seen record low unemployment in recent quarters, as well as stable job growth in targeted industries per the recent SA2020 Impact Report. However, education attainment rates and wage levels still remain below state and national averages and when elements such as unemployment are disaggregated along lines of geography, race and education level, the growth in job opportunities and the seemingly broad pathway to prosperity narrows for large portions of San Antonio's population. According to the Economic Innovation Group 2017 Distressed Communities Index (DCI), Bexar County ranked 14th in the United States in total number of people living in distressed zip codes estimated at 412,000 or 22.6% of the population.
San Antonio's long-term competitiveness is based on ensuring that it continues to compete for good paying, targeted industry jobs while...
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