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City Council Meeting Minutes June 16, 2020 <br />how economic development has adapted. Our location between Austin and San <br />Antonio is a great benefit. <br />Economic Development components include Business Marketing and <br />Attraction, Business Retention & Expansion (BRE), Entrepreneurial and Small <br />Business Development, Downtown Development and Reuse, and Workforce <br />Development. <br />Our Economic Development Partners include: City Departments (Planning, <br />Engineering, and others), San Marcos Chamber of Commerce, Greater San <br />Marcos Partnership (GSMP), Splash Coworking, Downtown Association, <br />Texas State Small Business Development Center, and Rural Workforce <br />Solutions <br />The response to COVID 19 has shifted some of the services the City provides, <br />and he touched on how economic development has adapted. <br />This presentation is timely as there are a number of upcoming considerations <br />related to economic development including: <br />o ensuring our incentives policy aligns with City goals, <br />o re-evaluating residential development financial incentives, and <br />o developing economic development goals for the future comprehensive plan. <br />Jason Giulietti, President of the Greater San Marcos Partnership (GSMP), will <br />also participate and highlight some of the work done by the Partnership. Mr. <br />Giulietti will provide some of the history and focus of GSMP as well as explain <br />his organization's impact in our community. <br />Mr. Hardwick provided the presentation. He explained the community assets, <br />strategy and stated the main goal is to improve the economic well being of the <br />community including: job creation, job retention, tax base enhancements, and <br />quality of life and place. He explained "why" Economic Development is <br />important: <br />• Tax Base Diversification - real and personal property tax and sales tax <br />• Economic Growth - population, income, businesses <br />• Competitiveness - local communities drive economic development and <br />funding and structure <br />Mr. Hardwick noted that we do not have an Economic Development <br />Corporation because we do not have 4(a) or 4(b) funds which can come from <br />sales tax. In 1988, our community voted to have property tax relief instead. <br />City of San Marcos Page 2 <br />