Item 2: Economic Development Department Program Overview — original pdf

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AARAC Staff Update Economic Development Department (EDD) Ann Eaton, Assistant Director August 5, 2025 Agenda • Mission & Vision • Department Overview & Core Pillars • EDD Executive Leadership • Key Initiatives & Milestones • Pillars of Work • Q&A C I T Y O F A U S T I N Mission and Vision The Economic Development Department supports and recruits businesses to Austin through all divisions. Our mission is to promote a competitive, sustainable, and equitable economy for all. C I T Y O F A U S T I N 3 Economic Development Department's Executive Leadership Economic Development Leadership Team Anthony Segura Interim Director Economic Development Department Ann Eaton Assistant Director Workforce Development & Business C I T Y O F A U S T I N Economic Development Department's Overview & Core Pillars Overview & Core Pillars The Economic Development Department (EDD) works across three core pillars to strengthen Austin's economy and foster inclusive growth: 1. Global Business Expansion: Drive job growth and attract investments that support sustainable local industries. Small Business: Empower entrepreneurs and small businesses with resources, networking, and financial support. 2. 3. Workforce Development & Child Care: Expand workforce training and childcare access to improve economic mobility and quality of life for Austin residents. C I T Y O F A U S T I N Economic Development Department’s Pillars of Work Global Business Expansion Division Global Business Expansion Division The Global Business Expansion Division drives local job growth and investment. • Business Expansion Program: Attracting new businesses and supporting local expansion, including international ventures. • Place-Based Economic Development: Create affordable commercial spaces for small businesses, nonprofits, and creatives in underserved neighborhoods. • Industry Sector Development: Identifying and fostering industries with growth potential and living wage jobs. Key programs include: • Business Expansion Program • Place-Based Enhancement Program • Economic Resilience Lab • Six Square Contract C I T Y O F A U S T I N Small Business Division Small Business Division The Small Business Division is dedicated to empowering entrepreneurs, business owners, creatives, and non- profits. Key services include: • Classes and Coaching: Industry-expert-led business classes and personalized, no-fee coaching to turn plans into action. • Networking and Events: Signature events like Small Business Fundamentals Week, Austin Small Business Week, and Exploring Entrepreneurship panels to support Austin’s start-up ecosystem. • Research/Resources: Comprehensive resources including a small business directory, business intelligence databases, and more. C I T Y O F A U S T I N Workforce Development & Child Care Division Workforce Development & Child Care The Workforce Development & Child Care Division strengthens Austin’s workforce by providing training, employment pathways, and childcare support. Workgroups Include: • Austin Civilian Conservation Corps: Provides hands-on job training and green workforce opportunities. • Youth Programs: Equips young residents with job skills, career pathways, and mentorship. • Day Labor: Connects workers with short-term employment and job readiness support. • Workforce & Child Care Contracts: Expands access to jobs and childcare services through City partnerships. • Community Technology: Enhances digital literacy and tech access for workforce readiness. Key programs include: • Home-Based Child Care Provider Incentives • City-Supported Child Care Facilities • Grant for Tech Opportunities Program (GTOPs) • Youth Career Fest C I T Y O F A U S T I N Economic Development Department’s Key Goals & Initiatives Key Goals & Initiatives In alignment with the City Manager’s agenda and Citywide Strategic Plan, EDD’s key goals include: 1. 2. 3. 4. 5. Launch of the Infrastructure Academy: Workforce training for mobility & infrastructure jobs, creating a pipeline for major projects (e.g., Project Connect, ABIA). Small Business Buydown Loan Program: Below-market- rate financing to support hiring of low-to-moderate- income individuals in Austin. Increase Access to City Funding & Support: Increased support for small businesses through training, education, and coaching. Small Business Incentives & Retention: Connecting small businesses, nonprofits, and creatives to incentives that expand affordable commercial space and drive growth. Support for Economic & Cultural Districts: Strategic investments and tailored resources to enhance district- level economic development. 1) Launch of the Infrastructure Academy (IA) Support the implementation and funding of the Infrastructure Academy to support targeted skilled jobs in the Mobility & Infrastructure targeted industry. IA launched in March 2025. Milestones/Timeframes: • • WFS hired IA Director and continues staff recruitment and set up of workforce hub for tracking and navigation. • Open Academy site at ACC Riverside and finalize training partnerships (early 2026). • Launch marketing and outreach for recruitment. C I T Y O F A U S T I N 2) Small Business Buydown Loan Program Create pathway for access to capital for small businesses and support job creation among low-income residents. Milestones/Timeframes: • Develop program in partnership with a lending institution. • Finalize program structure and guidelines. • Release solicitation in early fall 2025. C I T Y O F A U S T I N 3) Increase Access to City Funding & Support Strengthen Austin’s small business ecosystem, foster small business longevity and sustainability, and create opportunities for expansion by providing necessary support and resources. Milestones/Timeframes: • Expand training, strategic marketing resources, and mentoring programs by leveraging our contracts with local business chambers and community organizations (e.g., PeopleFund, EGBI). • Enhance access to capital through targeted outreach and financial coaching. C I T Y O F A U S T I N 4) Small Business Incentives & Retention The Chapter 380 economic development programs, including the Place-Based Enhancement Program, support small businesses, nonprofits, and creatives with incentives for affordable commercial space and business growth. Milestones/Timeframes: • Implement promotional and outreach strategy to engage businesses in priority districts. • Provide technical assistance on funding eligibility and project sustainability. • Facilitate property owner-business matchmaking for commercial space needs. C I T Y O F A U S T I N 5) Support for Economic & Cultural Districts Cultivate the value of these districts by fostering economic resilience, attracting investment, and creating equitable opportunities for businesses and cultural organizations to thrive. Milestones/Timeframes: • Advance the African American Cultural Heritage District Action Plan and 5th Street Mexican American Cultural Tourism Plan by finalizing scope, integrating community input, and initiating early-phase projects. • Launch the Downtown Austin Strategic Initiative to coordinate planning, identify key investments, and engage stakeholders in activation efforts. • Deploy the Digital Kiosk Program in priority districts to enhance visibility, promote cultural assets, and provide ongoing community engagement. C I T Y O F A U S T I N 2024 Accomplishments The Economic Development Department's 2024 Annual Report highlights key accomplishments, strategic investments, and community partnerships that advanced Austin's economic growth and cultural identity. Learn how our department drove meaningful change last year and how we’re continuing to build on that progress. Scan the QR Code or visit austintexas.gov/edd to read our 2024 Annual Report. C I T Y O F A U S T I N C I T Y O F A U S T I N Questions? WWW.AUSTINTEXAS.GOV/EDD