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City Council Combined Special Meeting/Work Session

Meeting Date:

04/23/2024

From:

David McIntire, Community Investment Director

Department:

Economic Vitality

Co-Submitter:

TITLE:

Initial Discussion of the Draft Economic Development Strategic Plan

DESIRED OUTCOME:

Hear a presentation from Stiletto: Make A Point (Stiletto), the City's Economic Development Strategic Plan consultant, as well as from City staff. Provide questions, feedback and guidance on the direction of the draft plan.

Executive Summary:

The City of Flagstaff's Economic Development Program has retained Stiletto: Make A Point through a Request for Qualifications process in order to have its expertise and assistance in crafting an Economic Development strategy for the next five years. The draft plan has been developed with significant public input and will be presented for feedback and guidance. After this presentation, Stiletto and staff will work to further refine the plan based on the guidance received. Additional opportunity for public comment will also be a part of the process. It is hoped that Council approval of the plan will be in May 2024.

Information:

The City of Flagstaff's Economic Develpoment Program has been successfully working from a group of specific focus areas including advanced manufacturing, bio-medical, software and digital products, research and development and tourism/retail. While the Economic Development program will work with any business in our community, or interested in being a part of our community, these are the areas of specific focus. Our business incentives, and the incubation and acceleration programs at the City's NACET building, are offered to these sectors for economic development.

Over the past 5 years there have been significant changes that have impacted Flagstaff's economic landscape. The impacts of Covid-19, increased labor costs, increased borrowing costs, a housing crisis, a climate crisis, and many other local, national and international factors led to the need for an analysis of current conditions and a potential refocusing on strategic sectors and activities. To ensure decisions and investments are driven by data, staff released a Request for Statement of Qualifications and identified Stiletto: Make a Point from among numerous respondents.

Stiletto has reviewed the City's adopted plans to ensure our economic strategies are consistent with the Regional Plan, the 10-year Housing Plan, the Climate Neutrality Plan and others. Additionally, Stiletto reviewed the Economic Collaborative of Northern Arizona's plan and other regional partners to best ensure alignment. A public survey and facilitated group discussions with business and economic development practitioners were also part of the process. As a note for reference, direction was provided by staff that the plan should acknowledge the significant impacts of the affordable housing crisis and the importance of the tourism and visitation sectors, but that because the City already has a 10-year Housing Plan managed by the Housing Section, and a visitation strategy driven by Discover Flagstaff, this plan should focus on more diverse economic development programming to ensure these strategies are also being developed, refined and enhanced. Action to preserve Flagstaff's unique character, and address the housing and climate crisis, must build upon a robust, resilient and diverse economy to ensure prosperity for the community and resources available for the solutions being identified.

From this activity, and much more that will be discussed in the presentation, a draft plan has been developed. This plan will be presented in the work session to receive feedback and guidance from the Council. That feedback will guide the creation of the final document which is intended to come back to the Council for adoption in May.

Attachments

Draft Economic Development Strategic Plan Presentation