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JEO OINTLECTEDFFICIALS AIS GENDATEMUMMARY Regional Economic Development Meeting Date: February 26, 2010AgendaItem Number: [Agenda Item Number] Department: Planning and Development Staff Contact: Jon Ruiz, Gino Grimaldi, Jeff Spartz www.ci.eugene.or.usContact Telephone Number: 541-682-5336 ISSUE STATEMENT At the September Joint Elected Officials (JEO) meeting, members approved the economic development strategies and charged the Economic Development (ED) Task Force and Technical Advisory Group (TAG) to hold an Economic Summit in November. The Regional Prosperity Summit was held on November 19, 2009 with over 300 participants. The TAG has taken the feedback received at the Summit and recommended high priority actions that the region should undertake to help define the next economy for our region. The ED Task Force recommends that the JEO approve the regional economic development plan, Attachment A, to ensure continued and timely progress on moving our region into the next economy. BACKGROUND At the March Joint Elected Officials (JEO) meeting, members expressed interest in holding a Regional Economic Summit to coordinate a collaborative response to the current situation and formed a sub- committee (ED Task Force) for this purpose. At the June JEO meeting, the framework for the development of a regional economic development plan was approved. The framework for designing our next economy included the creation of a Technical Advisory Group (TAG) that is composed of key stakeholders in our regional economy. The TAG developed a list of strategies and tactics they felt the region should strategically focus on to best influence the economic development of our region. At the September JEO meeting, members approved the economic development strategies as recommended by the TAG and charged the ED Task Force to hold an economic summit in November. The Regional Prosperity Summit hosted break-out sessions on five different strategies. These break-out sessions provided feedback from the community on what steps are needed to move our economy forward. From the feedback received at the Summit, the TAG developed eight critical action items that the region should undertake. Please see the attached regional economic development plan for the approved economic development strategies, and the recommended action items. JEO OPTIONS Option 1: Approve the regional economic development plan as written in the attached document, re- confirm the economic strategies approved in the September 2009 JEO meeting, and have the ED Task Force carry out the plan by implementing the prescribed action items.