Regular Called Meeting of the Economic Prosperity Commission Wednesday, September 18, 2024, 6:30pm City Hall, Boards & Commissions Room 1101 301 W. 2nd Street Austin, Texas Some members of the Economic Prosperity Commission may be participating by videoconference. Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Cesar Garza and Stephanie Calderon at the Economic Development Department: cesar.garza@austintexas.gov and stephanie.calderon@austintexas.gov or 512-974-8055 (Cesar Garza). CURRENT BOARD MEMBERS/COMMISSIONERS: • Laura Dixon, Mayor (Watson) • Christiana Ponder, District 1 (Harper- Madison) • Ofelia Zapata, District 2 (Fuentes) • Raquel Valdez Sanchez, District 3 • Michael Nahas, Chair, District 4 (Velasquez) (Vela) • Rodrigo Cantu, District 5 (R. Alter) AGENDA • Amy Rister, District 6 (Kelly) • Amy Noel, District 7 (Pool) • Luis Osta Lugo, Vice Chair, District 8 • Aaron Gonzales, District 9 (Qadri) • Kelsey Hitchingham, District 10 (A. (Ellis) Alter) CALL TO ORDER PUBLIC COMMUNICATION: GENERAL The first 10 speakers signed up prior to the meeting being called to order will each be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Called Meeting on August 21, 2024. DISCUSSION ITEMS 2. 3. 5. 6. Presentation by Stacy Schmitt, Senior Vice President of Communication & External Affairs, Opportunity Austin, informing the commission about her organization’s work in strengthening the local economy. Discussion regarding action taken at the most recent Joint Sustainability Committee meeting as it relates to the Economic Prosperity Commission. WORKING GROUP UPDATES 4. Update from the Global Business Expansion working group regarding prospective speakers, research on Texas Local Government Code Chapter 380, and other relevant matters. Update from the Redevelopment working group regarding its research on the Colony Park redevelopment plan and other relevant matters. Update from the Small Business working group regarding the group’s research of other cities’ programs and other relevant matters. FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are …
1. ECONOMIC PROSPERITY COMMISSION REGULAR CALLED MEETING MINUTES Wednesday, August 21, 2024 The Economic Prosperity Commission convened in a REGULAR CALLED meeting on Wednesday, August 21, 2024, at 301 W. 2nd Street, Room 1101, Austin, Texas. Chair Michael Nahas called the Economic Prosperity Commission Meeting to order at 6:34 p.m. • Board Members/Commissioners in Attendance in Person: Amy Rister (6), Raquel Valdez Sanchez (3), Michael Nahas (4), Rodrigo Cantu (5) • Board Members/Commissioners in Attendance Remotely: Christiana Ponder (1), Kelsey Hitchingham (10), Luis Osta Lugo (8), Amy Noel (7) • Absent: Laura Dixon (Mayor), Aaron Gonzales (9) • Vacancy: District 2 PUBLIC COMMUNICATION: GENERAL None present. APPROVAL OF MINUTES Approve the minutes of the Economic Prosperity Commission Regular Called Meeting on July 17, 2024. The minutes from the meeting of July 17, 2024, were approved on Commissioner Hitchingham’s motion, Vice Chair Osta Lugo’s second on an 8-0 vote. Commissioners Laura Dixon (Mayor) and Aaron Gonzales (9) were absent. DISCUSSION ITEMS 2. Presentation by Sylnovia Holt-Rabb, Director of the City of Austin Economic Development Department, on the City’s August budget process and on the department’s Global Business Expansion, Small Business, Cultural Arts, Music and Entertainment, Workforce and Childcare, and Support Service divisions. Sylnovia Holt-Rabb, Director of the Economic Development Department, and Anthony Segura, Deputy Director, provided a multifaceted overview of the department and how it leads with equity in its work today. 1 Discuss whom commissioners could invite to present on topics related to commission business or working groups at the September 18, 2024 meeting. Discussion was held. WORKING GROUP UPDATES 4. Update from the Global Business Expansion working group regarding the group’s next meeting date, expectations for the group’s September 2024 report, and relevant matters. Update given by Commissioner Rister. Update from the Redevelopment working group regarding the group’s next meeting date, expectations for the group’s September 2024 report, and relevant matters. Update given by Commissioner Osta Lugo. Update from the Small Business working group regarding the group’s next meeting date, expectations for the group’s September 2024 report, and relevant matters. Update given by Commissioner Valdez Sanchez. FUTURE AGENDA ITEMS • Joint Sustainability Committee update from Commissioner Amy Noel, Economic Prosperity Commission representative on the City of Austin Joint Sustainability Committee. Chair Nahas adjourned the meeting at 7:57 p.m. without objection. ********** These minutes were approved at the DATE meeting on BOARD MEMBER’s motion, BOARD MEMBER second on a (vote …
City of Austin Economic Prosperity Commission OPPORTUNITY AUSTIN Our mission is to strengthen the competitiveness and resiliency of the Austin region. How do we do it? By fostering job-creating investments while also advocating for policies and programs that nurture our workforce, quality of life and pro-business climate WHERE WE STARTED ABOUT OPPORTUNITY AUSTIN Early 2000s Recession eliminated 15,000 jobs in Tech 2004 OA was founded to increase economic resiliency of the Austin region. Launched OA1.0 2009 Launched OA2.0 2014 Launched OA3.0 2019 Launched OA3.0 2024 Launched OA5.0 Opportunity Austin has helped bring more than 600,000 jobs to the Austin region. WHERE WE ARE NOW Austin ranked as the Best-Performing City by the Milken Institute. This study measures each metro area’s economic performance using outcomes-based metrics of labor market performance, high tech impact, and access to economic opportunities. Source: Milken Institute, Best-Performing Cities 2024, February 6, 2024. ABOUT AUSTIN Metro Population 2.5M 11th Largest City As per U.S. 2020 Census Low Cost of Living Below National Average OPPORTUNITY AUSTIN PILLARS OPPORTUNITY AUSTIN 5.0 Economic Development Global Innovation & Expansion Workforce Development Policy & Advocacy ECONOMIC DEVELOPMENT Recruitment, Expansion, Retention Target Industries Real Estate, Maps, & Research RELOCATIONS & EXPANSIONS 600,000+ Total Jobs Created 2,500 Companies 230,000 Direct Jobs Relocations & Expansions 2004 - July 2024 2,454 companies | 229,813 jobs Relocations Expansions Total Jobs OA 4.0 2019-2023 842 companies 96,676 jobs 26,877 138 22,124 19,856 OA 5.0 2024-2028 66 companies 6,156 jobs 28,000 250 200 150 100 50 0 OA 2004-2008 459 companies 27,752 jobs OA 2.0 2009-2013 411 companies 34,097 jobs 72 71 62 7,741 48 61 6,568 4,664 4,069 31 26 36 31 4,710 21 35 2,662 17 52 5,435 29 34 31 OA 3.0 2014-2018 676 companies 65,132 jobs 20,063 110 110 118 13,562 101 14,257 9,615 7,734 53 55 55 8,651 82 87 13,262 63 11,502 70 10,068 10,237 64 50 53 50 51 46 58 45 90 64 81 37 23,000 18,000 13,000 6,156 8,000 36 30 3,000 (2,000) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TARGET INDUSTRIES Advanced Manufacturing Aerospace & Defense Clean Technology Financial Services Life Sciences Semiconductors Space Technology GLOBAL INVESTMENT & INNOVATION Austin’s Innovation Ecosystem makes us globally competitive. International Recruitment, Expansion, and Retention Global Investment Innovation Ecosystem GLOBAL & INNOVATION 4,500 Startups 200+ Venture Capitalists 5,000+ Funding …
Economic Prosperity Commission Meeting Minutes Wednesday, September 18, 2024 ECONOMIC PROSPERITY COMMISSION REGULAR CALLED MEETING MINUTES Wednesday, September 18, 2024 The Economic Prosperity Commission convened in a regular called meeting on Wednesday, September 18, 2024, at 301 W. 2nd Street, Room 1101, Austin, Texas. Chair Michael Nahas called the Economic Prosperity Commission Meeting to order at 6:40 p.m. • Board Members/Commissioners in Attendance in Person: Michael Nahas (Chair), Aaron • Board Members/Commissioners in Attendance Remotely: Amy Noel, Raquel Valdez Gonzales, Amy Rister Sanchez, Christiana Ponder 1. 3. PUBLIC COMMUNICATION: GENERAL None present. APPROVAL OF MINUTES Approve the minutes of the Economic Prosperity Commission Regular Called Meeting on August 21, 2024. The minutes from the meeting of August 21, 2024, were approved on Chair Nahas’ motion, Commissioner Rister’s second on a 6-0 vote. Commissioners Cantu, Dixon, Hitchingham, Osta Lugo, and Zapata were absent. DISCUSSION ITEMS 2. Presentation by Stacy Schmitt, Senior Vice President of Communication & External Affairs, Opportunity Austin, in informing strengthening the local economy. Presentation provided by Stacy Schmitt, Senior Vice President of Communication & External Affairs, Opportunity Austin. the commission about her organization’s work Discussion regarding action taken at the most recent Joint Sustainability Committee meeting as it relates to the Economic Prosperity Commission. 1 Economic Prosperity Commission Meeting Minutes Wednesday, September 18, 2024 Commissioner Noel presented about the most recent Joint Sustainability Committee meeting. WORKING GROUP UPDATES 4. Update from the Global Business Expansion working group regarding prospective speakers, research on Texas Local Government Code Chapter 380, and other relevant matters. Update given by Commissioner Rister. Update from the Redevelopment working group regarding its research on the Colony Park redevelopment plan and other relevant matters. Update given by Commissioner Noel. Update from the Small Business working group regarding the group’s research of other cities’ programs and other relevant matters. Update given by Commissioner Valdez Sanchez. FUTURE AGENDA ITEMS • Speaker from Rally Austin, pending confirmation with Commissioner Valdez Sanchez. • Approve 2025 regular meeting schedule. Chair Nahas adjourned the meeting at 7:52 p.m. without objection. The minutes were approved without objection at the October 16, 2024 meeting on Chair Nahas’ motion. Commissioners Dixon, Hitchingham, Ponder, Valdez Sanchez, and Zapata were absent. 5. 6. 2
