County dedicates $100K toward new Solano EDC action planJune 28 2017
By Todd R. Hansen From page A1 | June 28, 2017 Daily Republic
FAIRFIELD — The county will invest $100,000 toward the first year of a new Solano economic development strategy, while the cities have been asked to pony up 40 cents per resident.
“This really is a five-year (strategy) to be fully implemented,” Solano Economic Development Corp. Project Manager Sean Quinn told the Board of Supervisors on Tuesday.
The goal is to get about $265,000 in public investment and another $265,000 in private investment for the 2017-18 fiscal year, which starts July 1, although outgoing President Sandy Person suggested at the board meeting the total is closer to $600,000.
The economic development corporation hopes to raise $100,000 more from the private sector than what the business community has typically contributed each year. Quinn said they have secured about 25 percent of that to date.
Quinn also said while the cities to which the Solano Economic Development Corp. has made its presentation have been supportive, that commitment is not going beyond one year. He said they want to wait and see what happens with the new plan.
“I think it is all about expectations,” Person said.
The plan includes an in-depth inventory of more than 200 industrial and commercial sites, some that are shovel-ready, others that need a bit more work, and still others that have no infrastructure in place.
It includes a new marketing program, a website that provides a host of information, financing options and an economic analysis for the area.
One of the primary goals is to be competitive with other areas trying to attract new businesses – and particularly new industry – to their area. The plan is designed so local officials can respond quickly and comprehensively to inquiries.
Supervisor Jim Spering wanted to know what the $100,000 buys the county, and in large part, the answer focused on a reduction in costs for public assistance and in the justice system by creating more jobs. Property values also would be expected to rise, and with that, the tax base increases.
The county also has committed its usual $37,000 to support such activities as the Solano Economic Development Corp.’s business breakfast program.
Reach Todd R. Hansen at 427-6932 or firstname.lastname@example.org.
At 40 cents per resident*, each city will be asked to pay:
· Vallejo: $47,873
· Fairfield: $44,756
· Vacaville: $37,880
· Suisun City: $11,555
· Benicia: $11,075
· Dixon: $7,663
· Rio Vista: $3,277
* Based on 2015 populations