(A) The following definition of
ECONOMIC VITALITY is adopted: “Economic vitality is an active process of developing a sustainable economy that conserves our natural resources, environment, natural beauty and cultural diversity in order to achieve an optimal way of life for everyone within the Albuquerque region.”
(B) The following strategies are adopted as the basis for the city of Albuquerque/Bernalillo County economic development program. These 11 strategies represent a consolidation of the 14 categories of action steps proposed in the June 1994 Town Hall report (“Writing the Community's Blueprint for Economic Vitality”).
(1) Encourage the attraction, development and retention of responsible and responsive businesses; nurture the expansion of existing and new local businesses.
(2) Develop industries that increase Albuquerque's competitiveness in the global economy.
(3) Take advantage of growth opportunities afforded by the North American Free Trade Agreement (NAFTA).
(4) Provide the high quality education and training programs essential for our residents and businesses to effectively compete in a rapidly changing global economy.
(5) Involve neighborhood associations and other community based organizations in creating economic vitality by undertaking community-based economic development planning and implementation, especially in targeted areas.
(6) Reinvest increased wealth back into the community, particularly in the educational system and cultural life, to enhance Albuquerque's economic competitiveness, reduce discrimination in the workplace, and ensure full participation in the economy by all citizens.
(7) Develop adequate physical and cultural infrastructure to elevate Albuquerque to world class business community status, accommodate business expansion, and maintain and enhance quality of life.
(8) Make quality urban design and the built environment a high priority to promote economic vitality.
(9) Foster economic sustainability by committing to the stewardship of the environment and natural resources.
(10) Create a positive environment in the community regarding business growth and development.
(11) Develop an ongoing process to implement the Economic Development Strategy.
(C) The following strategies also are adopted as proposed by the City Council to be the basis for the city of Albuquerque/Bernalillo County economic development program:
(1) Assist and recruit businesses that create jobs which provide somewhat higher wages and a reasonable benefit package to employees.
(2) Achieve community economic growth rates which are compatible with the ability of the public sector to provide associated services and infrastructure.
(3) Provide technical and other assistance to community-based organizations to increase their capacity to undertake economic development activities.
(D) The Mayor will direct the Office of Economic Development to work with leaders of Albuquerque/Bernalillo County's business community, educational institutions, community-based organizations, Council and other appropriate city and county staff to prepare an Action Plan to implement and monitor the adopted strategies.
(1) The Action Plan will be ready for presentation to the Council and County Commission by June 1, 1995.
(2) The Action Plan will evaluate and prioritize the action steps proposed in the report entitled “Writing the Community's Blueprint for Economic Vitality” (June 1994 Town Hall report).
(3) The Action Plan will indicate the organization(s) that will be responsible for each priority action step, the resources necessary to implement it, the timeline for completion, and the benchmarks or indicators that will be used to measure progress.
(E) The city will work in partnership with the appropriate organizations to implement the Action Plan.
(Res. 41-1995, approved 3-24-95)