Ordinance 3454-15 with Exhibits A- C

EVERETT COMPREHENSIVE PLAN According to data from the Puget Sound Regional Council (PSRC), in 2011 there were approximately 94,000 jobs in the city limits and about 5,000 jobs in the unincorporated Municipal Urban Growth Area (MUGA). The Vision 2040 Regional Growth Strategy anticipates that in 2035 there will be over 145,000 jobs within the current (2015) city boundaries, and over 8,000 jobs in the MUGA. Combined, these targets represent an increase of over 50% for the entire Everett planning area within the planning period. The City's comprehensive planning process will shape land use patterns. Public sector actions that implement the comprehensive plan will interact with private sector development decisions to determine how well Everett's economic capacity is utilized. Measures of private sector economic growth include the number and type of jobs, business and personal income, business investment, population change, and numbers of housing units. Public sector indicators of growth in the economy include tax revenues, government spending for public services, and long-term debt capacity. The Preferred Alternative reaffirms and strengthens the city's commitment to a diversified economy that builds on the considerable strengths of Everett's land and infrastructure base. It provides sufficient land use capacity to accommodate the job growth expectation of the region, as stated in Vision 2040 (145,000 jobs in the current city limits), but establishes a slightly lower target of 140,000 jobs due to uncertainty the timing of the light rail extension to Everett. V. Economic Development Issues The following section describes several issues related to future economic growth in Everett. A. Economic Diversity Boeing is the major employer in Everett and Snohomish County and is home to the 747, 767, 777, 777X, and 787 aircraft production lines. When Boeing has cutbacks in orders, Everett needs to be able to rely on other industries to sustain the economic health of the area. Thus, one of Everett's economic goals is to identify ways it can help the local economy become more diverse. Since the last plan update in 2005, Kimberly Clark closed its paper mill in Everett. This had an economic impact on the community. The City adopted a re -use plan for the Kimberly Clark area to encourage redevelopment and increase diversity of the industrial base. This plan update includes a Port of Everett Marine Terminal Element. Everett's downtown has seen growth of multiple family apartments and hotels with the addition of the Hampton Inn and Marriot Garden Court. Small businesses are an important part of Everett's economy and should be encouraged to locate and grow in Everett. Small businesses create jobs which are important for future growth of the economy. Everett has several advantages upon which it can capitalize to promote further growth, such as an excellent water supply and transportation system, an international seaport, a large inventory of industrial land area to provide space for new industry, and a large supply of underdeveloped land zoned for higher density commercial, residential, or mixed use. ECONOMIC DEVELOPMENT ELEMENT