| ITEM #: 1. DATE: 11/14/2022 AI #:1117 |
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CITY COUNCIL ACTION REPORT
| SUBJECT: | GREATER PHOENIX ECONOMIC COUNCIL (GPEC) UPDATE |
| STAFF PRESENTER(S): | Wendy Bridges, Acting Economic Development Director |
OTHER PRESENTER(S):
Chris Camacho, President & CEO, Greater Phoenix Economic Council
Summary
Discussion from the Greater Phoenix Economic Council (GPEC) regarding local and regional development activity and initiatives. (Wendy Bridges, Acting Economic Development Director)
STIPULATIONS
City Council will receive an update from Economic Development and the Greater Phoenix Economic Council.
FISCAL IMPACT
No fiscal impact.
BACKGROUND AND PREVIOUS ACTIONS
This is an annual update from the Greater Phoenix Economic Council (GPEC). The last Work Session update Council received from GPEC was on September 27, 2021.
STAFF ANALYSIS
Goodyear is an original member of the Greater Phoenix Economic Council (GPEC). GPEC has been a key partner in Goodyear's business growth history since 1989. Since FY21, GPEC has played a significant role in the attraction and location of 9 companies creating more than 2,700 new jobs, $405M in capital investment, and 3.5M square feet of development filled. Over the past 5 years, Goodyear has seen 1,088:1 return-on-investment (ROI) on newly generated taxes and revenues created by jobs and capital investment in our community in relation to our annual membership dues.