07 - Laserfiche WebLink

BACKGROUND The Tri-Valley Business Council was formed in 1992 as anon-profit, private sector group of businesses and organizations located in Pleasanton, Dublin, Livermore, San Ramon and Danville. The Business Council's stated goal is "to assemble, organize and coordinate the talents and resources of the business and professional leadership in the Tri-Valley area for the purpose of assisting the public sector and community in the identification, examination and successful resolution of Tri-Valley issues affecting economic development and the quality of life in the valley." FY 1998-1999, the City Council authorized a $20,000 contribution toward funding the Business Council's Tri-Valley Vision 2010 Project. The Council supported the "Enhancement of Open Space, Agriculture and Environmental Quality" goal of that project by appropriating $25,000 in FY 2001-02 to advance development of the Agricultural Enterprise Plan, and then in June 2003, the Council contributed $25,000 to assist with the implementation of that same plan. Most recently, Pleasanton allocated $25,000 last fiscal year to continue its support of the 2010 Vision Project and other regional economic development programs. DISCUSSION The Tri-Valley Business Council undertook a comprehensive analysis of the Tri-Valley economy in 1997. That report helped mobilize business, community and government leaders to work together to promote the economic vitality and quality of life of the region. Recognizing that in recent years much has changed in the Tri-Valley, in 2005 the Business Council completed an update to the 1997 study, resulting in the Preserving Prosperity Project report. The intent of the project was to understand changes in the regional economy so that the Business Council and Tri-Valley cities might develop the collaborative actions necessary to address challenges and capitalize on opportunities created by Tri-Valley's changing economy. The study analyzed several aspects of the region's changing economy, including employment and income, evolving industry clusters, patterns among Tri-Valley Businesses, and the changing role of the Tri-Valley economy in relation to the greater Bay Area, and highlighted key trends, challenges and opportunities to preserving prosperity in the Tri-Valley. Following up on the Preserving Prosperity Project report, in October 2006 the Business Council released the Tri-Valley Innovation Network report (Attachment 1) summarizing the results of focus group and questionnaire responses and offering regional action recommendations to respond to the needs and concerns of the survey participants. The report notes that innovation and entrepreneurship must be the core regional economic strategy and that such a strategy should have two major components: an innovation network, and a regional branding/marketing campaign. The Business Council's efforts this fiscal year are focused on business attraction and retention activities including the implementation of the action items proposed in the Innovation Network report. Among the specific actions are: Page 2 of 3