Explanation
Background: This ordinance authorizes a contract in the amount of $700,000 with Columbus2020. These funds provide City 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, creation and nurturing of entrepreneurship, and investment in public sector infrastructure.
Emergency action is requested in order to facilitate the resulting creation and retention of jobs.
Fiscal Impact: The funding for this contract ($700,000) is fully budgeted within the 2012 General Fund operating budget.
Title
To authorize the Director of the Department of Development to enter into a contract with Columbus2020 for economic development activities associated with business relocation, expansion, and retention as well as other activities related to the City's continued interest in workforce development, marketing, and entrepreneurship; to authorize the expenditure of $700,000 from the General Fund; and to declare an emergency. ($700,000.00)
Body
WHEREAS, Columbus2020 is a bold, new public-private partnership that will leverage Central Ohio's diverse industries, research and academic institutions, and entrepreneurship to position Columbus to become the fastest growing economy in the country and one of the nation's leaders in economic development; and
WHEREAS, the Columbus2020 initiative, an aggressive economic development strategy, will grow our economy by ensuring that our existing companies are growing and thriving, attract new companies to the community, and encourage innovation; and
WHEREAS, the City's participation will help leverage approximately $4 million in private investment to promote job growth and investment within the City of Columbus; and
WHEREAS...
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