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the question was how to create inducements for local companies in a way that did not create a protectionist atmosphere and send the wrong message to those from outside the area who wished to do business here. He did not oppose anything that helped local businesses grow and expand but said the community needed to be careful about how it did that avoid favoring companies in a way that distorted the marketplace. Ms. Pierce asked Mr. Roberts to discuss why past economic development strategies had not succeeded. Mr. Roberts believed they had. He said the 1990s were good for Oregon and the community because the community worked at making conditions better. Then the community got complacent and thought it solved its problems, and the recession was a reminder that the effort needed to be ongoing. He said the community needed to be prepared to change with the times, and remember that high tech was not the only answer..A strong and diversified economy took constant attention. 3. What is Sustainable Economic Development? Bob Doppelt of the University of Oregon's Program for Watershed and Community Health joined the committee to discuss sustainable development and its relationship to economic development. He said most companies operate in a linear manner, taking raw materials and turning them into goods that often end up as toxic waste. That approach had been very successful in creating economic well-being but had unintended consequences people were only beginning to understand. A sustainable development sector was arising because of those consequences, providing new opportunity for job creation and business development. Mr. Doppelt said only two percent of the 250 trillion pound annual waste flow was recycled; most was discarded in the form of pollution, causing toxicity problems in the environment and impacting the climate. The linear approach had created a discrepancy between the rich and poor. It created production capacity that exceeded the world's capacity to consume. That drove much of the globalization that was occurring, as companies try to reduce costs to stay competitive and find new markets outside the western world. Mr. Doppelt said another result of the linear approach may be the peak of the oil production cycle on a global basis. The world would not run out of oil in the near-term, but was on the downward trend in terms of the oil that was available, leading to price spikes that could have a significant economic impact. Mr. Doppelt said that many people were looking at the impacts of the linear approach in an attempt to mitigate its affect and determine where new job and business opportunities existed. He said sustainable development could be considered the next evolution in economic thinking. Those using sustainable practices were attempting to create a circular approach that recycled materials and reduced toxicity. That required changes in the way raw materials were extracted, a shift to renewable energy resources, increased energy efficiency, increased materials efficiency, and recycling and reuse of materials in new products. There were many business opportunities arising in the upstream, midstream, and downstream components of the economy. MINUTES--Mayor's Committee on Economic Development March 8, 2004 Page 5