DEPARTMENT: Economic Development
DEPARTMENT HEAD: Alejandra Lopez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Consideration of the San Antonio Economic Development Foundation 3rd and 4th Quarter 2020 Business Plan.
SUMMARY:
This Ordinance approves the Business Plan of the San Antonio Economic Development Foundation (SAEDF) for the 3rd and 4th Quarter of 2020 which the Foundation has executed and will continue to execute to achieve the City's goals for economic, global, and workforce development. The contract associated with this Business Plan was previously approved by City Council and funds in the total amount of $835,000.00 were approved in the FY 2021 Adopted Budget.
BACKGROUND INFORMATION:
The partnership between EDD and SAEDF is based on recommendations of the 2009 Mayor's Corporate Retention and Recruitment Committee, which consisted of business and community members, and called for the development of a strategic plan, a process for coordination and collaboration to include a business retention and expansion (BRE) program, and improved resource utilization. In 2015, a private sector sub-committee evaluated the partnership between the City and SAEDF and confirmed the continuation of the partnership as an effective model, along with recommending the development of the Forefront SA economic development strategic plan (Forefront SA). Forefront SA is implemented by SAEDF, in collaboration with EDD and other economic development partners, with target goals to reach by 2020.
The SAEDF Economic Development Services Agreement creates public/private alignment towards long-term goals and focuses on creating high-wage jobs by leveraging existing competitive advantages. This Agreement requires City Council approval of an annual Business Plan aligned with Forefront SA. In early March, City Council approved the SAEDF 1st and 2nd Quarter Business Plan which was to continue implementation of industry-led initiatives in cybersecurity, biomedical/healthca...
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