Explanation
BACKGROUND:
Over the past year, City Council created a Jobs and Economic Development Committee devoted to job creation and economic growth. Council also set aside a $2 million Job Growth Initiatives Fund in the 2005 budget with the purpose of actively seeking key job creation investment opportunities that employ Columbus workers and strengthen the City's income tax revenues to pay for critical city services.
Studies like that recently released by the Brookings Institute reinforce the strategy that job creation depends on fostering enterpreneurship. Already in Columbus, two thirds of all employees work in a small business. Thus, it is well within the City's interest to strengthen the quality of support services dedicated to fledgling company founders.
The Greater Columbus Area Chamber of Commerce formed an Entrepreneurship Steering Committee (ESC) in 1997 to to support entrepreneurs, foster small business growth, and lead and support economic development in central Ohio. The ESC strives to provide entrepreneurs timely access to quality resources and business opportunities. In 2005, ESC activities will include building a website in collaboration with The Ohio State University Fisher College of Business to provide a comprehensive, customized guide on how to launch a new business venture, identifying all available local resources and the tools to tap them appropriately. This venture, funded by both public and private dollars, is deemed an appropriate use of the Jobs Growth Fund by Council member Mary Jo Hudson, chair of the Jobs and Economic Development Committee.
Emergency action is requested so that the contract with the Greater Columbus Area Chamber of Commerce can be executed immediately and continue its work to facilitate job growth in Columbus.
Contract Compliance #: 31-4152950 (non profit)
FISCAL IMPACT:
The funding for this contract will come from the $2 million Job Growth Initiatives Fund. The ESC is also seeking funding from private sources to support its 2005 agenda.
Title
To authorize the appropriation of $100,000 to the Development Department within the Jobs Growth Fund; to authorize the Director of the Department of Development to enter into a contract with the Greater Columbus Area Chamber of Commerce to support the work of its Entrepreneurship Steering Committee; to authorize the expenditure of $100,000 from the Jobs Growth Fund; and to declare an emergency. ($100,000.00).
Body
WHEREAS, City Council amended the 2005 budget to create a $2 million Job Growth Initiatives Fund; and
WHEREAS, numerous studies, including the latest by the Brookings Institute, report that job creation investments pay great dividends when directed to homegrown entrepreneurs and small businesses;
WHEREAS, Entrepreneurship spurs wealth creation and can serve as a catalyst to grow innovative businesses and support businesses, and ultimately boost City income taxes that help support the provision of basic City services such as police and fire protection, and refuse collection; and
WHEREAS, the Greater Columbus Area Chamber of Commerce is working with a variety of entrepreneurs looking to grow new businesses through its Entrepreneurship Steering Committee (ESC) to create programs in Columbus to support entrepreneurs, foster entrepreneurial growth, and lead and support economic growth in Columbus; and
WHEREAS, the ESC strives to provide entrepreneurs timely access to quality resources and business opportunities, and in 2005 will building a website in collaboration with The Ohio State University to give entrepreneurs a step by step guide on how to launch a new business venture; and
WHEREAS, Council deems it an appropriate use of the Jobs Growth Fund to support of that effort, and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to enter into the contract with the Greater Columbus Area Chamber of Commerce to support its Entrepreneurial Steering Committee program for the preservation of the public health, peace, property, safety and welfare; NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Auditor be and is hereby authorized and directed to appropriate $100,000 in the Jobs Growth Fund, Fund 015 to the Development Department, Economic Development Division, Division No. 44-02, Object Level One 03, Object Level Three 3337, OCA Code 440215.
Section 2. That the Director of Development is hereby authorized to enter into a contract with the Greater Columbus Area Chamber of Commerce for the purpose of supporting the work of its Entrepreneurship Steering Committee with the Ohio State University Fisher College of Business.
Section 3. That the expenditure of $100,000.00 or so much thereof as may be necessary, be and is hereby authorized to be expended from the Department of Development, Economic Development Division No. 44-02, Jobs Growth Fund, Fund 015, Object Level One 03, Object Level Three 3337, OCA Code 440215.
Section 4. That this contract is awarded in accordance with Chapter 329.15 of the Columbus City Codes, 1959.
Section 5. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.