City Council

(25)\n25-1485\nECONOMIC DEVELOPMENT AND JOBS COMMITTEE REPORT\nrelative to a report on economic development best practices at a local\ngovernment level and the most effective structure for the City to carry\nout economic development functions and strategies; and related\nmatters.\nRecommendation for Council action, pursuant to Motion (Soto-\nMartínez - McOsker, et al.):\nDIRECT the CLA, in coordination with all other relevant departments,\nand in consultation with local stakeholders and academics with\nexpertise, to report on economic development best practices at a\nlocal government level and recommendations on the most effective\nstructure for the City to carry out economic development functions\nand strategies. The report should include:\na. A survey of the economic development functions the City\ncurrently performs across departments.\nb. A review of cities that successfully drive economic growth and\nthe practices employed to obtain these results.\nc. Comparisons of the organization of successful municipal\neconomic development units, including optimal staff\nqualifications and training, and priority projects.\nd. Case studies relevant to the City where economic development\nagencies substantially contributed to attracting and retaining\ngrowth industries, trained workforces in emerging fields, or\nrevitalized business districts.\ne. Recommendations about best practices for funding and\nplanning within economic development, such as tax increment\nfinancing districts and development of strategic and /or capital\nplans. Best practices, including structures, for supporting,\nretaining and further strengthening industries where cities hold\na competitive advantage, such as Film/Entertainment and\nTourism for Los Angeles. Consideration of benefits to Cities that\nmaintain standalone film and/or tourism departments and those\nthat incorporate those activities into economic development\nfunctions.\nFiscal Impact Statement: Neither the City Administrative Officer nor\nthe Chief Legislative Analyst has completed a financial analysis of this\nreport.