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EDC debates formal investment policy, tables economic-impact software pending city review
Summary
The board discussed a draft investment policy and an economic-impact modeling subscription; members voted to have the director compare the draft to the city comprehensive plan and forward it to council for review, and they postponed buying the Impact Dashboard pending comparison with county services.
The Santa Fe Economic Development Corporation spent significant time at its May 27 meeting discussing a draft investment (incentive) policy and a proposed subscription to an economic-impact platform.
The draft policy lays out targeted industries, minimum thresholds for eligibility (primary jobs, taxable sales, capital investment) and an approach for quantifying potential EDC participation in incentives; it also contemplates that the EDC will review applications and forward recommendations to City Council for any formal incentive agreements.
Devin, executive director, said the policy is intended as “guardrails” to help staff and Council assess requests and to provide prospective investors with clarity…
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