Agenda Item 2: Possible Goals for EPC 2024-2025 — original pdf

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PossibleGoalsforEPC2024-2025ThesearesomepotentialgoalsfortheEconomicProsperityCommissionforMay2024toApril2025timeframe.EconomicReport●AnoverviewofAustin’seconomy,and/or●HighlightsofimportanttopicsinAustin’seconomyForeither/both,Ibelieveagoodperspectivetotakewouldbefromthehousehold.Householdincomecomesfromwages,benefits,retirementincome,andotherinvestmentincome.Householdexpendituresgotohousing,transportation,food,retirementsavings,healthcare,entertainment,transfers(childsupport,alimony,donations),clothing,education,etc..Thehouseholdperspectiveprovidesbothaneconomiccontextandaeasypersonalconnection.HappinessIndex●AformulathatsummarizesallofAustin’sdesiresintoasinglenumber,whichcitygovernmentistryingtomaximize.Thebenefitofasinglenumberisthatitiseasytotrackovertimeandmeasureprogress.Thedifficultyisputtingeverytradeoffofhappinessintoasinglenumber.EconomicDevelopmentDepartment●Focusonthe3departmentsofEDDthatarenotassociatedwithacommission:○GlobalBusinessExpansion○Redevelopment○SmallBusinessEDDhas6departments,but3alreadyhavecommissionstightlyassociatedwiththem.TheCulturalArtsDepartmenthastheArtsCommission.TheMusic&EntertainmentDepartmenthastheMusicCommission.TheHeritageTourismDepartmenthastheTourismCommission.Theother3donothavecommissionassociatedwiththem.(AlthoughtheSmallBusinessDepartmentofteninterfaceswiththeMBEWBE/SmallBusinessEnterpriseProcurementProgramAdvisoryCommittee.)