STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: May 26, 2021
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Economic Development
EXECUTIVE: Dr. Eric A. Johnson
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SUBJECT
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Authorize (1) adoption of City of Dallas Economic Development Policy 2022-2032, attached as Exhibit A; (2) adoption of the recommendations for formation of a new economic development entity contained in Briefing Paper on Establishing a New Economic Development Entity - City of Dallas attached as Exhibit B; and (3) creation of an advisory task force to guide the implementation of items (1) and (2) above - Financing: No cost consideration to the City
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BACKGROUND
On June 13, 2018, City Council authorized a resolution to engage Angelou Economic Advisors, Inc. to develop a comprehensive Economic Development Strategic Plan by Resolution No. 18-0838. The consultant team spent months meeting with stakeholders, conducting a market assessment, analyzing target industries, and developing an action plan. The final Economic Development Strategic Plan calls for the city to focus on four overarching goals: (1) create a new economic development organization, (2) make Dallas a world-class entrepreneurial city, (3) widen the talent pipeline, and (4) focus on inclusive and equitable economic development.
TIP Strategies was engaged by the Office of Economic Development to facilitate a review of the draft plan and to work with specific stakeholder groups to identify priorities that would inform next steps for implementation. This review included gathering input on the draft plan from Dallas City councilmembers, a community review panel, and a policy advisory committee through interviews, listening sessions, and an online survey. Feedback from that review indicated high interest and support for the first goal of the Strategic Plan, creation of a new economic development organization.
The Office of Economic Developm...
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