Reaction to yesterday’s Budget and Audit Committee meeting
June 15, 2019
Data show need for inclusive economic development in Sacramento and city acts accordingly
Today was a bold step forward toward realizing the true tenant for Measure U funding. After much debate, the city council voted 8 to 1 to approve the Mayor’s budget proposal with an upfront initial $16 million in investment but leaving much work for the Measure U citizen’s advisory and investment committees to tackle with the remaining $32 million.
Taking into account the May 2019 Brookings Institute data showed that Sacramento dropped from 84th to 91st in inclusion nationally, the city is taking the necessary action to close the gap in our historically undervalued and left behind communities.
With the first hurdle behind it, the city must now focus on accountability and metrics. Greater Sacramento Economic Council will be watching the outcomes to ensure the funding for capacity building in neighborhoods and the creation of new economic engines in priority neighborhoods are front and center.
An inclusive economy is one in which there is expanded opportunity for more broadly shared prosperity, especially for those facing the greatest barriers to advancing their well-being. Preparing a broader and more diverse set of firms, workers and communities to reach their productive potential offers a compelling opportunity for growth. This is the course we are charting in the Greater Sacramento region.
In spite of the COVID-19 pandemic, Zennify continues to innovate in the Greater Sacramento region. Read our interview with CEO Manvir Sandhu to hear why the region is a competitive location for the company.
As we all adjust to new realities and commit to minimizing the spread of COVID-19, I want you to know that the Greater Sacramento Economic Council is open for business – remotely of course – and continues to see interest and activity, with new business commitments to locating in the region happening this week.
2019 was a game-changing year for the Greater Sacramento region. With the Major League Soccer announcement, new incentive programs, growing startups, and companies breaking ground; there was certainly a lot to raise a glass to and many achievements to award.