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City Council Meeting Minutes June 16, 2020 <br />managing parks, and providing medical access to the disadvantaged. <br />(3) Polices and programs explicitly directed at improving the business climate <br />through specific efforts, business finance, marketing, neighborhood <br />development, business retention and expansion, technology transfer, real estate <br />development and others. <br />Main goal of economic development is improving the economic well-being of a <br />community through efforts that entail job creation, job retention, tax base <br />enhancements and quality of life. Economic Development involves new <br />companies, increased tax base (including diversification of the tax base), <br />increased revenue, diverse industry sectors, job creation, skilled workforce and <br />tourism. <br />Economic Development is collaborative and creates economic diversity that <br />sustains each local economy throughout the business cycle and the goal is to <br />increase the per capita income levels of local residents. The goal is to create <br />quality of life for all. <br />Mr. Giulietti explained that competition is stiff and communities have to <br />develop aggressive and innovative economic development strategies and <br />incentives are a valuable and necessary tool that helps sway site selection <br />decisions. Site Selection basically comes down to site elimination so <br />communities must prove why a particular business should choose their <br />community over others. <br />Business Recruitment/Expansion most important considerations are <br />Infrastructure and talent. Next are Real Estate/Site and Amenities/Quality of <br />Life. Last item for consideration is incentives. <br />Mr. Giulietti provided information on the Greater San Marcos Partnership, <br />when it was established, mission, vision, board, target industries, and their <br />focus for Hays and Caldwell Counties. <br />Established in October 2010 <br />Mission: To enhance and diversify the regional economy by creating high <br />quality jobs and investment <br />1st Five Year Strategy: 2010-2015 <br />2nd Five Year Strategy: 2015-2020 <br />Undertaking Vision 2025 now <br />City of San Marcos Page 7 <br />