Laserfiche WebLink
Economic Development <br /> Recommendations <br /> Aspirational Goals <br /> Act to ensure long-term, sustained <br /> In 2037,the primary economic engines of Everett— business development. <br /> the aerospace industry,the U.S.Navy,health care,andp <br /> Washington State University and Everett Community While the city has done a good job of understanding the current <br /> College—remain intact and in positions of prosperity. business climate,the committee also wants to make sure there <br /> They continue to serve as the linchpins for strong economic are longer-term plans and processes in place to anticipate,and act <br /> sustainability.In addition,over the past 20 years,Everett on,emerging opportunities in the technological,industrial,and <br /> has experienced substantial growth in small businesses that commercial business sectors.It is impossible to imagine,in 2017, <br /> have chosen to locate and expand within the city limits. all of the innovation that will emerge over the next 20 years.The <br /> The city has deliberately fostered small business growth committee aspires to see an active effort to ensure a continuum <br /> through tax incentives,location assistance and other of sustained business development;that is,as some businesses <br /> inducements to come and stay for the long-term in Everett. invariably fade,others are on hand to replace them.The city <br /> should work with Economic Alliance Snohomish County and other <br /> The city is particularly proud of the gains it has made in appropriate partners to stay attuned to these innovations and <br /> developing and sustaining veteran-,minority-and women- react quickly to new opportunities. <br /> owned businesses.Again,the increase in the number <br /> and success of these businesses is due to a concerted Five-Year Success Measure:By 2023,the city has a strong and active <br /> and focused effort on the part of the city to help these program to identify and act upon emerging business innovations. <br /> entrepreneurs feel welcomed and supported. <br /> The city has also attracted a host of new businesses and Prioritize attention and support to <br /> industries.Through a well-developed plan to continually small businesses. <br /> stay abreast of new technologies and consumer needs, <br /> the city has been able to actively pursue these businesses The committee recognizes that the aerospace industry,the U.S. <br /> as soon as they have emerged.Everett has been at the Navy,the health-care industry,Washington State University and <br /> forefront of capturing new waves of business ideas. Everett Community College will continue to be critical economic <br /> engines.Over the next 20 years,the committee recommends that <br /> Paine Field airport has been improved to serve commercial the city make a concerted effort to attract a more diverse set of <br /> airline passengers and Sound Transit has expanded with small businesses.The committee understands that the city has <br /> multiple light-rail stations throughout the Everett area.The already turned its attention to this economic sector,and statistics <br /> city has anticipated these expansions and has capitalized indicate that the highest percentage of future jobs will come from <br /> on the resulting economic gains.Areas of the city that the small business sector. <br /> once languished have been revitalized.These include <br /> the downtown core,Evergreen Way,Everett Mall and The committee believes that veteran-,minority-and women- <br /> the Broadway Corridor. Everett has fully anticipated the owned businesses should be specifically targeted.Strategies the <br /> lifestyle needs and desires of its growing population.As city should consider include: <br /> a result,new housing and job opportunities,as well as <br /> community recreational,and entertainment centers,have INCENTIVES:Offer inducements such as tax incentives,incubator <br /> been designed to meet those lifestyle aspirations. programs and location assistance.Each of these should be <br /> considered to help small businesses make the decision to locate <br /> The City of Everett has forged highly productive in Everett and to help them succeed once they have made that <br /> partnerships with businesses and the educational decision. <br /> institutions that serve its residents.Business leaders,in <br /> turn,maintain strong partnerships among themselves that INVESTMENT CAPITAL:Entrepreneurs should be offered a variety <br /> not only sustain the economy of Everett but also work to of capital options,including micro loans similar to programs now <br /> continually attract new business prospects to the city.The available around the world.A number of cities in the U.S.have <br /> city's influence has helped to engender a highly capable adopted such programs.The city should research these efforts and <br /> workforce that embraces people from a broad range of adopt those best practices most suited to Everett. <br /> cultural backgrounds,skills,and talents.This workforce is ENTREPRENEURIAL CULTURE:There is an opportunity to turn <br /> pleased to work,live,and recreate within the city.This has Everett's skilled workforce into entrepreneurs.Incubators and <br /> contributed to a high level of vitality,energy,engagement, accelerators should be used to build this culture.Students at <br /> and promise for the City of Everett in 2037. Everett Community College and Washington State University <br /> should be encouraged to create their own businesses;the same <br /> encouragement should be provided to workers who are retiring <br /> 8 9 <br />