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2012-13 ECONOMIC DEVELOPMENT SERVICES PRIORITIES
Invest Atlanta's budget priorities support a strategy that will allow the City of Atlanta to compete and win within this new century. Invest Atlanta will build on the enormous strengths built over generations, including the vision of an international airport, global outreach of the Olympics, top research universities and a culture of social and business entrepreneurship.
With other cities raising their game, however, the City of Atlanta's success won't happen by accident. Rather, the strategic focus on Invest Atlanta's priorities will need to support a vibrant city with sustained job and economic growth.
In no particular order, the following highlights the top priorities:
- Development of a comprehensive economic development plan
The City of Atlanta currently lacks a 21st century, globally competitive strategy for jobs and economic growth. This strategy would provide a strategic direction for Invest Atlanta as well as other entities within the City of Atlanta.
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Identify catalytic projects per council district
With the identification of catalytic projects throughout the City, an effort can be made to leverage assets and resources so that all parts of the City will benefit from the City's growth.
- Working within the entrepreneurial eco-system, coordinate the innovation and entrepreneurial efforts of the City
Create and lead a group, Startup Atlanta, to coordinate the entrepreneurial efforts within the City. This interaction will leverage many limited resources in benefit of the City's businesses. By supporting knowledge and innovation, the cycle of economic development can be propelled or stabilized through business growth. Innovation drives the level of productivity of an economy.
- Implement an international program to enhance Atlanta's economy
A small number of businesses in Atlanta have entered into the export market. Exports can support business and job growth. Additionally, targeting foreign direct investment to the City can also enhance the vibrancy of the City.
- Enhance job creation via business expansion and retention
Establish a business retention and expansion program. The International Economic Development Council has reported that 80% of job growth within a city traditionally comes from those businesses already located in the City. Therefore, a program targeting City businesses could expand the growth to the City.
- Develop new collateral materials for marketing and branding purposes
Often times the first point of contact a prospect will have is through the Invest Atlanta website, so in addition to developing collateral material, Invest Atlanta will develop web content specific to business development information (e.g. top available sites and buildings in each district, demographic data for each district, etc.) Invest Atlanta will facilitate the process determining the information a company may need to relocate or expand.
- Enhance the revolving loan fund direct lending
Continued support for the revolving loan funds administered by Invest Atlanta for the city of Atlanta will allow us to better serve the small business community of Atlanta. Our programs enable qualified businesses that are unable to arrange financing in whole or part to receive vital financial support needed to expand employment and serve residents in the City of Atlanta.
- Create a database of available sites and buildings
Creating a database of City-owned available sites and buildings that can be accessed by site selection consultants, brokers and company representatives will support different project opportunities in Atlanta. Where to locate is often one of the first questions a new or expanding company asks when opening a facility. Our competitors have easy-to-use databases of sites and buildings directly on their economic development website.
- Coordinated joint business recruitment outreach attraction effort for targeted industries
Coordinated joint business recruitment outreach attraction efforts for targeted industries will be a primary tactic we will deploy. We continue to identify external partners to align our strategies, which provide much broader industry cluster management and coverage. It is in our best interest to leverage the strengths and resources in a multi-agency approach in the pursuit of our overall objective of creating jobs and attracting new investment to the City of Atlanta.
- Coordinated joint business recruitment outreach attraction effort for targeted industries
Invest Atlanta will focus on 'telling the Atlanta' story. There are many assets in Atlanta that are not known and/or are not being told. An aggressive outreach program will be implemented, targeting the external customer (potential businesses) and the internal customer (current city businesses) about the programs and advantages of being in a major city.
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