2013/10/16 Council Agenda Packet

�� Strategy 21: Invest in Economic Vitality and ? aAvk Opportunity Stakeholders across sectors call for greater coordination of economic development with high-capacity �,,. ` transit investments. While the economic development inherent to attracting growth will help support vibrant transit communities, additional strategies are needed to attract and retain existing and locally- 2 owned businesses and to link transit community residents to family wage jobs. Although these economic development strategies were not a central component of the Growing Transit Communities work program, they are critical to the long-tern success of these communities and should be a focus area for future work. Puget Sound Regional Council 21.1 Use the Opportunity Mapping exercise to guide implementation of the Regional Economic Strategy wherever appropriate. For example, actions to promote workforce development related to job training and education could be targeted to areas with low access to opportunity. 21.2 Target outreach efforts for the planned Action Plan for women and minority-owned businesses to include the Equity Network and businesses within current and planned light rail station areas. 21.3 Promote greater representation of small, locally-and minority-owned businesses on the Prosperity Partnership. 21.4 Promote better integration with VISION 2040 and Transportation 2040 in the next update to the Regional Economic Strategy by encouraging place-based strategies to locate jobs in transit communities, to include regional and sub-regional centers. 21.5 Highlight in the next update to the Regional Economic Strategy the need to improve transit access to employment as a means to achieve both economic development and equity objectives. (11 21.6 Adapt for regional application the lessons learned and recommendations from the work on small business C retention conducted for the East Corridor Demonstration Project. 21.7 Work with local jurisdictions and appropriate stakeholders to explore tools to increase access to family wage U jobs, such as through economic development, community benefits agreements, living wage ordinances, and a other innovative approaches. MI .a Transit Agencies C 21.8 Work with local jurisdictions to identify business types or districts within transit communities that may be at risk E of adverse impacts from transit facility development or from subsequent land use and market changes. E 21.9 Strengthen policies to encourage local hiring and outreach to women and minority-owned businesses in Gbidding processes. CU 21.10 Expand construction mitigation to promote small business retention in light rail station areas by including W business planning and technical assistance to impacted community businesses to the extent allowed under adopted laws and labor practices. Local Governments 21.11 Work with transit agencies to identify business types or districts within transit communities that may be at risk of adverse impacts from transit facility development or from subsequent land use and market changes. 21.12 Adopt economic development strategies to support small businesses around transit, to include business planning and technical assistance as well as seeking funds for business attraction, retention and stabilization. 21.13 Promote greater commercial diversity and employment opportunities by implementing innovative zoning policies to encourage flexibility in commercial uses in mixed-use zones. Local chamber of commerce and business associations 21.14 Provide proactive technical assistance and collaborate with public sector agencies to develop community- based strategies to support business attraction and retention in transit station areas. Priority Transit Communities for this Strategy • Current and planned light rail station areas or other regionally significant transit communities in need of strategies to promote business retention. • Communities that score low on the Opportunity Mapping Economic Health index 52 The Growing Transit Communities Strategy I Public Review Draft I May 2013