SLO makes economic development top priority
Monday, 27 June 2011
The San Luis Obispo City Council on June 21 approved the 2011-2013 budget, which includes enhancements to the Economic Development Work Program that the Chamber advocated for through the budget process.
The city allocated more funds toward economic development than ever before, increasing existing funding by $47,500 for the first year (2011-2012) and $57,500 for the second year (2012-2013). The total funds allocated for economic development are $80,000 for 2011-2012 and $90,000 for 2012-2013.
“Investing in economic development is an investment in the city’s overall economic health,” said Ermina Karim, the Chamber’s incoming president/CEO and current vice president of economic development and governmental affairs. “During the challenging economic conditions of the last few years, the connection between healthy businesses and city services has become even more clear.”
The designated funds will help the city develop an Economic Development Strategic Plan, create an infrastructure phasing and financing strategy, and continue the public-private collaboration between the city, the county, Cal Poly, the San Luis Obispo Chamber of Commerce and business community to support the creation of new head-of household-jobs.
A key component of the work program is planning if it is to help create more head-of-household jobs.
“The purpose of the Economic Development Strategic Plan is to provide more clarity and direction for the city work program and what it should be doing,” explained Claire Clark, the city’s economic development manager. “I’m very excited about what this could mean for the city’s program effectiveness and I’m excited about continuing to work with the business community in creating more head-of-household jobs.”
The work program also dedicates money toward developing a strategy for infrastructure phasing and financing.
There are several key expansion areas in San Luis Obispo where the land inventory can be built on for both residential and commercial developments to support new and existing businesses. To make these developments more likely to occur, the city will hire and work with a consultant to facilitate development of a strategy that will help translate specific plans into actual developments, making it more feasible for developers to pursue their projects in a manner that also meets the city’s needs.
The third major component of the work program will designate more funding toward the ongoing collaboration between Cal Poly, the county, city, and business community. This Chamber-supported effort is intended to foster the local entrepreneurial ecosystem. This promotes two of the Chamber’s primary points in its economic vision for San Luis Obispo: (1) Nurture and attract future-oriented companies and (2) partner with Cal Poly and Cuesta College to build a bridge to the future.
In the first year of the city’s financial plan, $50,000 is allocated for a professional consultant and development of the Economic Development Strategic Plan, $5,000 toward a new Economic Development website and $25,000 toward ongoing collaboration efforts.
In the second year, $60,000 is allocated for a professional consultant and the development of infrastructure strategy, $5,000 for ongoing website costs, and $25,000 for ongoing collaboration efforts.
“Earlier this year, the Chamber urged its members to make their voice heard, beginning with the Community Forum in February and the resident survey everybody got in their water bill. What we saw from the entire community was resounding support for a greater investment in economic development,” Karim said. “We are excited that the city has clearly made Economic Development a priority, and we will continue to collaborate with the city and advocate on behalf of the business community.” | 
