Committee reviews economic-development priority to protect target-industry land uses

Summary

Planning staff described a recommendation to protect and promote land uses that support target industries and diversify the city's tax base. Staff said proposed performance metrics include cumulative private capital investment, jobs and wages; the committee acknowledged the item and asked staff to coordinate with finance and economic-development

Planning staff presented an economic-development recommendation intended to protect and promote land uses that support target industries, diversify the tax base and enhance economic development through tools such as infrastructure planning and targeted recruitment.

Staff recommended updating the city's economic-development policy and tracking performance with measures such as cumulative private capital investment, job creation and wage growth. Staff indicated coordination would be required between economic development, finance and planning to monitor outcomes.

Committee members acknowledged the recommendation and its ties to the strategic plan. Staff said the recommendation would be incorporated into the final recommendation resolution and pursued with appropriate staff resources.