Item B: Local Economic Development

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ATTACHMENT A Adopted City of Eugene Mayor and City Council Economic Development Statement Over the past several months, we have heard growing concerns from individuals, families, business owners, non-profit agencies and other organizations about the impact of the current financial crisis gripping this country and the world. Unemployment is up. Businesses are closing or struggling. Health and human services use are up. Lane Transit District (LTD) is reducing services. Housing values decline, yet the need for affordable housing continues to increase. In response, a high priority in 2009 is to build an independently sustainable local economy to weather the current crisis and prepare for the next economy that will emerge. We cannot ignore these issues or the opportunities that will arise from them. It would be irresponsible of us to do so. However, this City cannot do this alone, and we encourage public, private, and non-profit partners to join us in this quest. The outcomes we are pursuing are to: ?Increase per capita income as a percentage of the Oregon average. Currently, the Eugene/Springfield area lags the state average by 17%. Increasing this average will add wealth and opportunity in the community. ?Retain and increase jobs. With unemployment at over 8%, maintaining a steady job base and strong and ready workforce are paramount. The strategies to achieve these outcomes are: ?Immediate (2009) – emphasis on supporting existing businesses and retaining existing jobs. ?Near-Term (2009/2010) – continuing to position the community for the next economy and building tools to accomplish the outcomes. Our challenge is to increase innovation, competitiveness, private investment and community sustainability in the Next Eugene Economy, which will emerge in the context of successful, short-term solutions to the unprecedented financial, economic, and fiscal emergencies now facing our region, state, and country. The community will be invited to join us in discussions leading to an action plan to address the immediate strategy of supporting existing businesses and retaining existing jobs. We expect an action plan to be considered by the City Council by March 31. We cannot wait for or expect Federal or State government to solve all of our local issues. We will work with both; however, we must be proactive in preparing ourselves. Our intent is to structure a deliberate and inclusive, but urgent community conversation.