| ITEM #: 1. DATE: 10/21/2024 AI #:2248 |
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CITY COUNCIL ACTION REPORT
| SUBJECT: | EVALUATE CURRENT INNOVATIONHUB FORMAT TO FIND EFFICIENCIES AND EXPANSION OPPORTUNITIES |
| STAFF PRESENTER(S): | Claire Bruns, Business Development Manager |
Summary
Presentation is to assess the current structure of the Goodyear InnovationHub, a resource center for entrepreneurs and small business owners, with a focus on identifying efficiencies and expansion opportunities. (Claire Bruns, Business Development Manager)
FISCAL IMPACT
There is no fiscal impact with this discussion item. The information presented is for informational purposes only.
BACKGROUND AND PREVIOUS ACTIONS
The InnovationHub was established in 2014 as a partnership between the City of Goodyear, Arizona State University, and the Maricopa County Library District. As the first of its kind in the West Valley, it was part of a broader initiative that saw similar programs launched in communities such as Scottsdale, Mesa, Tempe, and Phoenix. Today, the InnovationHub occupies 1,000 square feet within the Georgia T. Lord Library, dedicated to supporting small business owners and entrepreneurs.
Since its inception, the InnovationHub has offered free resources including workshops, networking events, and mentoring opportunities. These efforts have helped foster a community of support and learning for entrepreneurs in Goodyear. Management, programming, and services at the InnovationHub are provided by the City’s Economic Development Department, which has consistently worked to meet the evolving needs of the local business community.
This presentation came out of the City’s Strategic Plan in the section titled “Economic Vitality” with a Guiding Principle to “Nurture and support existing businesses and entrepreneurial efforts in the city.” The Action Item is for the InnovationHub to: Evaluate current format to find efficiencies and expansion opportunities.
Since its inception, the InnovationHub has offered free resources including workshops, networking events, and mentoring opportunities. These efforts have helped foster a community of support and learning for entrepreneurs in Goodyear. Management, programming, and services at the InnovationHub are provided by the City’s Economic Development Department, which has consistently worked to meet the evolving needs of the local business community.
This presentation came out of the City’s Strategic Plan in the section titled “Economic Vitality” with a Guiding Principle to “Nurture and support existing businesses and entrepreneurial efforts in the city.” The Action Item is for the InnovationHub to: Evaluate current format to find efficiencies and expansion opportunities.
STAFF ANALYSIS
Staff conducted an evaluation of the current format of the InnovationHub with the purpose of identifying potential efficiencies and expansion opportunities. In addition to the current programming, this evaluation included researching comparable cities' programs, potential partnerships, vendors, enhanced programming and youth entrepreneurship. As a result of the research, opportunities and efficiencies were discovered which may enhance the programming for small businesses and entrepreneurs offered at the InnovationHub.