Resolution 2413 - Laserfiche WebLink

• SUMMARY The purpose of expressing these economic development priorities is to provide the community with a general view from the City government's perspective of present and potential development direction. Since the early 1970's, the City of Everett has addressed a cyclical economy prone to sudden and prolonged recessions. The need for diversification and stability of economic activity in Everett has always been apparent. Development of a better mix of economic and job opportunities, greater balance and diversity, and a more stable economy continue to be the goals for economic development in Everett. For the community to achieve a diverse, balanced and stable economy, public and private roles and responsibilities must be established in order to provide for orderly, coordinated and effective economic development. Each party must know and understand its role and how it relates to the other players in the community. Business, labor and local government must develop the means to monitor the local economy in order to identify and resolve problems, prepare for change and/or initiate actions to build for the future. The City's responsibilities in planning and community development must be coordinated with private sector efforts in business trends, marketing, development, promotion, job generation and retention. Community development and economic development are dependent upon one another. If one accepts the notion that community development is the upgrade, improvement and rehabilitation of the City's "Plant and equipment" . . . its streets, utilities and public facilities and its private buildings, factories, offices, housing, shops and stores . . . aggressive economic development marketing must follow to provide new business, new jobs and new economic activity to make use of new and improved facilities. Economic development in its broadest sense will stimulate active community development as new and expanding business activity will demand new and better facilities. Moreover, maintenance of a sound economy and the retention of existing businesses and jobs will establish recurring needs for upgrade and expansion. Community development improvements to the City's "plant & equipment" have included water and sewer system rehabilitation, street improvements, water filtration plant construction and extensive planning studies of S.W. Everett, 19th Avenue S.E. and Downtown. The 1981 Growth Management Report reaffirms the City's need to diversify its economy.