Agenda Item 2: Economic Development Department Presentation — original pdf

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Economic Development Department Sylnovia Holt-Rabb, Director August 21, 2024 Austin, TX Economic Development Our History Austin Economic Development Over Time "Austin Area Economic Development Foundation" is created ATX is chosen as the site of the "Microelectronics Computer Corp." Economic Development Department is established with the City of Austin Opportunity Austin 4.0 + 1948 1956 1983 1988 2000 2004 2023 Vic Mathias becomes President of the Austin Chamber of Commerce "Advantage Austin" Opportunity Austin C I T Y O F A U S T I N The Ripple Effects From Our Past The 1928 Master Plan Austin is the most economically segregated Metro Area Economic Development Department: Leading with Equity in our work Austin, TX Economic Development Where We Are Today Economic Development Department Leadership Team Sylnovia Holt-Rabb Director Economic Development Department Anthony Segura Deputy Director Economic Development Department Morgan Messick Acting Assistant Director Economic Development Department C I T Y O F A U S T I N Mission and Vision The City of Austin's 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 7 Economic Development Department Overview Arts Business Music C I T Y O F A U S T I N Small Business 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 management 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 public library access. • Funding: Low-interest loan programs, such as the Family Business Loan Program, supporting business expansion and job creation. C I T Y O F A U S T I N Global Business Expansion Global Business Expansion Division The Global Business Expansion Division drives local job growth and investment by: • Business Development: Attracting new businesses and supporting local expansion, including international ventures. • Place-Based Economic Development: Enhancing unique districts and neighborhoods. • Industry Sector Development: Identifying and fostering industries with growth potential and living wage jobs. • Workforce Development: Training the local workforce to meet industry needs. Key programs include: • Business Expansion Incentive Program • Souly Austin Program • Economic Resilience Lab C I T Y O F A U S T I N Redevelopment Redevelopment Division The Redevelopment Division focuses on transforming city-owned real estate and key districts to support social and economic growth. Key initiatives include: • District Redevelopment: Balancing public/private investments to enhance neighborhoods like 2nd Street, Colony Park, and Mueller. • Site Redevelopment: Collaborating on strategic use of city properties for community benefit. • Public Improvement Districts: Managing districts that fund enhanced public services and infrastructure. St. Johns and Colony Park Sustainable Community Redevelopment Project • Mixed-income housing • Publicly-accessible open spaces C I T Y O F A U S T I N Redevelopment Division: Reorganization As part of a strategic reorganization in April 2024, this division was moved to the Financial Services Department (FSD). This transition was designed to: • Consolidate real estate functions • Streamline operations • Expedite redevelopment projects by leveraging the expertise within FSD. • The move aligns with the City’s broader goals of enhancing operational efficiency and fostering community benefits through redevelopment efforts. C I T Y O F A U S T I N Workforce Development & Childcare Workforce Development & Childcare Our transformation stems from directives from City leadership, prioritizing workforce development and childcare, and comprehensive needs assessments. By consolidating workforce development and childcare programs/contracts from other departments, we aim to increase capacity and better support our transformative vision. As part of a strategic reorganization in April 2024, the following workgroups joined EDD: • Austin Civilian Conservation Corp from Parks and Recreation Department • Youth Programs from Austin Public Health • Day Labor from Austin Public Health • Workforce and Childcare Contracts from Austin Public Health • Digital Literacy from Community Technology in Financial Services. C I T Y O F A U S T I N Workforce & Childcare Projects Overview ✓ Project 1: Streamlining Contracts Centralize workforce contracts, supporting budgets and staff with $5.0M and 16.0 FTEs Ensure a seamless workforce continuum with clear key performance indicators. Collaborate with local workforce development organizations. ✓ Project 2: Integrated Childcare Transfer Childcare Services to Economic Development. $1.4M in Social Services contracts – childcare wrap-around services for a skilled workforce. Develop a comprehensive childcare continuum. ✓ Project 3: Workforce Readiness Boost $5.0M Launch Infrastructure Academy. Support accessing City of Austin programs. $3.2M in Social Services Contracts – enhance workforce readiness through targeted initiatives. C I T Y O F A U S T I N 18 Workforce Development Creating and Retaining Jobs Upskilling Austinites NXP Partnership ✓ 53 new manufacturing jobs created ✓ $291 million invested in facility upgrades Workforce Development Initiatives ✓ $1 million allocated for early childcare educators ✓ Over $350,000 allocated for leadership training ✓ $500,000 allocated to healthcare programs Small Business Classes ✓ 6,057 hours of business development training and coaching ✓ 224 small business classes impacting 1,446 small businesses C I T Y O F A U S T I N Music & Entertainment Music & Entertainment Division The Music & Entertainment Division is dedicated to innovating and growing the city’s vibrant music and entertainment industries, both commercial and nonprofit. This division provides crucial support through funding, artist development, strategic partnerships, and assistance with City regulations. • • Hold. Key Initiatives Include: Funding Programs: Live Music Fund, Creative Space Assistance Program. • Artist Development: Programs like Sound ON! and Music on • Partnerships: Collaborations with entities like the Austin- Toronto Music City Alliance. Services: Guidance on permits for music, film, and creative spaces. These efforts ensure that Austin remains a thriving hub for creativity and entertainment. C I T Y O F A U S T I N Cultural Arts Cultural Arts Division The Cultural Arts Division (CAD) plays a key role in fostering the city's creative economy by managing cultural arts programs that support the community’s cultural identity and vitality. Key Initiatives Include: • Cultural Arts Funding Program: Contracts with arts organizations to support local cultural arts initiatives. • Art in Public Places (AIPP): Commissioning and exhibiting public art throughout Austin. • Artist Development: HOT-funded programs like Thrive, Elevate, and Nexus to nurture and promote local artists. 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