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VIBRANT ECONOMY I WANT A DIVERSE AND VIBRANT RANGE OF BUSINESSES AND SERVICES IN REDMOND REQUEST FOR OFFERS TEAM MEMBERS Team Member: Adam O’Sullivan Team Member: Laird Team Member: Dan Werr Team Member: Erik Scairpon Team Member: Jeff Hagen Team Member: Jill Smith Team Member: Joe Averill Team Member: Judy Fani Team Member: Rich Gieseke DASHBOARD INDICATORS Indicator 1: Business Longevity - The number of active businesses in Redmond that have held a Redmond business license for seven years or more. Measure Description: Measures the number of businesses in Redmond that have been in business 7 years or more Importance: Measures Redmond’s ability to attract and retain a vibrant business community; a diversity of established businesses creates local choices and opportunities Indicator 2: Percent of Redmond residents either very satisfied or satisfied with the type and variety of employers, restaurants, retail shops and services in Redmond. Measure Description: Surveyed response to satisfaction with the type and variety of employers, restaurants, retail shops, and services in Redmond Importance: In identifying a vibrant and diverse business community as one of the City’s priorities, Redmond’s residents indicated that convenient access to the types of services and business amenities was important. INTRODUCTION/SUMMARY OF OUTCOMES MAP Offers submitted to the Vibrant Economy priority should support one or more of the outcomes listed below. Outcomes illustrate what contributes to creating a vibrant economy, and the supporting bullet points indicate why each outcome is important. Your work may support any of the outcomes; they are all indispensable in creating a vibrant economy. Outcome 1: A Diverse Range of Industries and Business Clusters Supports long-term economic health and creates resiliency during times of economic downturn ---PAGE BREAK--- Promotes efficiencies in resource procurement, knowledge sharing and talent recruitment Supports both residents and Redmond businesses, they are consumers of each other Business clusters attract workforces within cluster industries, as well as support jobs outside of those industries Outcome 2: A Range of Job Types and Employment Opportunities Helps create a stable community and long-term economic health Attracts a diverse range of skilled and unskilled employment opportunities; every job is important to meet the needs of the community Provides opportunity for career growth and advancement; ladder jobs along developing career paths Creates a positive business atmosphere, which attracts and retains employers Encourages diversity in population: age, background, skill set, experience, education, socioeconomics, etc. Everything you need is here: Local employment opportunities reduce the need to travel outside of Redmond for work Outcome 3: A Retail Environment that Provides the Goods and Services our Community Desires Makes Redmond a retail destination and maximizes tourism investment opportunities Matches the needs of both residents and businesses: ensures the correct variety and number of businesses within industries Provides investment back into local economy, supporting employment and social responsibility Consumers have access to a variety of shopping, dining, entertainment, and other activities—variety includes a good mix of price points within industries for varying consumer budgets Everything you need is here: Convenient access to goods and services makes Redmond a more desirable place to live, work and play. Reduces the need to travel outside of Redmond to spend money OBJECTIVES The following objectives advise offer writers on how the City strives to reach the outcomes listed above. Budget offers can be written to any of these objectives, as well as other objectives not listed, which improve the City’s ability to reach the ultimate outcome of a vibrant economy. WE ARE LOOKING FOR OFFERS THAT: Objective 1: Use the City’s Economic Development Strategy to guide investments and partnerships ---PAGE BREAK--- that increase economic vitality Objective 2: Improve service delivery through the City’s Financial Strategy, and proactive engagement with the business community Objective 3: Utilize planning and programs that support innovation, diversity, and stability of Redmond’s current and future community and business environments Objective 4: Seek business partnerships that support and benefit the community Objective 5: Create and maintain an inviting environment to start and locate a business. Development- related services should be predictable, flexible, and receive a timely response Objective 6: Establish Redmond’s urban centers as a destination for consumers, supporting both the community image and identity Objective 7: Attract businesses, residents and visitors to Redmond by promoting the community as a desirable place to live, work and play Objective 8: Create easy, efficient and effective access to businesses that integrates mobility, infrastructure and parking Objective 9: Continually improve on providing expeditious licensing and permitting to the business community ---PAGE BREAK--- Vibrant Economy A Diverse Range of Industries and Business Clusters Supports long-term economic health and creates resiliency during times of economic downturn Promotes efficiencies in resource procurement, knowledge sharing and talent recruitment Supports both residents and Redmond businesses, they are consumers of each other Business clusters attract workforces within industries, as well as support jobs outside of those industries Everything you need is here: local employment opportunities reduce the need to travel outside of Redmond for work Provides the opportunity for career growth and advancement; ladder jobs along developing career paths Creates a positive business atmosphere, which attracts and retains employers Attracts a diverse range of skilled and unskilled employment opportunities; every job is important to meet the needs of the community Helps to create a stable community and long- term economic health Encourages more diversity in population: age, background, skill set, experience, education, socioeconomics, etc. Everything you need is here: Convenient access to goods and services makes Redmond a more desirable place to live, work and play. Reduces the need to travel outside of Redmond to spend money Matches the needs of both residents and businesses: ensures the correct variety and number of businesses within industries Makes Redmond a retail destination and maximizes tourism investment opportunities Consumers have access to a variety of shopping, dining, entertainment and other activities— Variety includes a good mix of price points within industries for varying consumer budgets Provides investment back into local economy, supporting employment and social responsibility A Range of Job Types and Employment Opportunities A Retail Environment that Provides the Goods and Services our Community Desires I want a diverse and vibrant range of businesses