Explanation
Background: This legislation authorizes the Director of the Department of Development to enter into a contract in an amount up to $700,000 with Columbus 2020.
Columbus 2020 is a private, nonprofit entity incorporated as both a 501 c (6) and a 501c (3). It serves as the economic development organization for the 11 county Columbus region. The mission is to generate opportunity and build capacity for economic growth throughout Central Ohio. The Columbus 2020 team conducts business outreach to existing economic base companies, markets the region to growing companies worldwide, conducts customized research to better understand the region’s competitiveness and makes strategic development investments by leveraging public, private and institutional partnerships.
The goals to be achieved by Columbus 2020 by the year 2020 include the following:
?add 150,000 net new jobs
?increase personal per capita income by 30 percent
?add $8 billion of capital investment
?be recognized as a national leader in economic development
The funds provide resources for aggressive action with key business and government contacts for business relocation, expansion, and retention in the downtown area, central city neighborhoods, and growth areas. In addition, these funds represent commitment to Columbus 2020’s efforts related to the City's continued interest in workforce development, area wide marketing, international marketing, creation and nurturing of entrepreneurship, and investment in public sector infrastructure.
The City’s participation will help leverage over $4 million in private investment to promote job growth and investment within the City of Columbus.
Fiscal Impact: The funding for this contract ($700,000) is fully budgeted within Economic Development Division’s 2019 General Fund Budget.
Title
To authorize the Director of the Department of Development to enter into a contract with Columbus2020 in an amount up to $700,000.00 for economic development a...
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