The City Council approved an Economic Recovery Framework in February 2010 (described in the accompanying Powerpoint presentation) to guide City efforts aimed at improving Tucson’s business climate and stimulating the local economy. The Framework includes four “building blocks” that represent the key areas the City will focus on to create a healthy local economy:
City Financial Recovery and Core Service Delivery - The most basic building block for a healthy local economy is a City that is healthy financially and provides high quality municipal services. The economic downturn has significantly impacted the City’s financial situation and ability to provide basic services like public safety, transportation, and parks and recreation. Efforts aimed at diversifying City revenues, making efficiency improvements, and restoring core services are foundational elements of a strong Tucson economy.
Business Customer Focus - The City of Tucson needs to be viewed as a desirable place to do business in order to encourage economic investment in the City. Businesses should have a positive experience when interacting with local government. Making the City of Tucson “business friendly” is another basic building block the City of Tucson needs to focus on to assist with economic recovery.
Partnerships, Tools, and Resources - Clearly, the City is not the only organization in the community with a role to play in economic recovery, and there are limits on what the City can do by itself to affect the economy. Creating and strengthening partnerships with other public and private entities in the community that have a role to play in the local economy is critical to future economic success. In addition, there are state and federal tools and resources that can be tapped and the City can play an active role in facilitating access to these resources.
Public-Private Investment - City investments in infrastructure, community improvements and other economic stimulus efforts, as well as the development of City owned land has the potential to leverage additional private sector investment. These investments should be made thoughtfully and strategically to get the biggest “bang for the buck”. Investing in our City through public projects is an important tool that the City can and should use to help stimulate private sector investment in the local economy.