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City Council Meeting Minutes August 6, 2019 <br />development. Their mission is to be a force for positive economic change by <br />attracting and growing quality jobs and investment. Their team consists of 8 <br />experienced economic development professionals. Their annual program of <br />work is based on a research -based 5 year strategy called Vision202O. <br />Ms. Cruz went into detail about Vision 2020: 5 year Economic Development <br />Strategy (2016-2020) <br />• Marketing & Promotion: Promote San Marcos as a great place to do business <br />■ Workforce Development: Work with Workforce Development providers, <br />higher education institutions, school districts to ensure residents have the skills <br />needed for good jobs <br />■ Quality Jobs: Attract quality jobs to the community by retaining and <br />expanding existing companies, attracting new companies, and small business <br />■ Quality of Place: Support infrastructure, beautification efforts and <br />maintaining an attractive location through 6 quality and sustainable growth <br />The Target Industries for Vision 2020 include the following: <br />❑ Aerospace, Aviation, Security & Defense <br />❑ Business Services and Support <br />❑Material Science <br />❑ Information Technology <br />❑ Life Sciences <br />❑ Regional Distribution <br />❑ Destination Attractions <br />There is a "Hierarchy of Needs" in the development process which include: <br />Incentives, Amenities/Quality of Life, Real Estate/Site, Talent, and <br />Infrastructure <br />Steve Parker, Assistant City Manager, went into detail regarding economic <br />incentives and the incentive tools used to attract companies. <br />Some common incentives include: <br />❑ Chapter 312 Tax Abatements- a portion of property taxes are waived for a <br />period not to exceed 10 years <br />❑ Chapter 380 - written agreement that rebates sales tax and/or property tax <br />back to businesses based on a level of investment or a schedule of additional <br />payroll/jobs from the city <br />❑ Chapter 381 - written agreement that rebates sales tax or property tax back <br />to businesses based on a level of investment or a schedule of additional <br />payroll/jobs from the county <br />City of San Marcos Page 2 <br />