Title
Discussion: Economic Growth Board - Goals & Function
Executive Summary: City Council will consider a proposed work plan for the Economic Growth Board.
Body
Legislative History
Ordinance No. 06-96, establishing the Economic Growth Board, passed August 2, 2006.
Ordinance No. 06-119, amending Code regarding Economic Growth Board's composition, passed September 20, 2006.
Ordinance No. 11-13, amending Code regarding Economic Growth Board's composition, terms, powers and duties, passed January 19, 2011.
Purpose & Explanation
The Economic Growth Board (EGB) was authorized by Council in 2006 with their work plan focused on providing economic development assistance to the City of Hudson, please see attached Ordinance No.'s 06-96 and 06-119. During this time the City did not have staff resources allocated for economic development work. In 2008, an Economic Development director position was authorized, and a professional employee was retained to pursue economic development for Hudson. The original Ordinance was amended as Ordinance No. 11-13, a copy of which is also attached, and the EGB focus changed to modify their focus to support professional staff and undertake specific projects. Several accomplishments resulted from this shift in work program. Market analysis was done by members of the EGB. A proposed Community Reinvestment Act (CRA) approach was developed, marketing strategies were developed, and the annual awards breakfast was established to name a few of the EGB accomplishments. While this type of project by project approach using EGB members was beneficial, the City has shifted its priorities significantly, and a modification of the EGB's purpose would greatly enhance the economic development efforts of the City.
As the City of Hudson moves forward with its priority strategic initiatives, it is apparent that economic development, retention as well as attraction, play an important role. To provide further clarity on the role of the EGB, I...
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