ITEM TITLE:
#24-48 - Adopting the City of Valdez Economic Development Strategic Plan
SUBMITTED BY: Martha Barberio, Economic Development Director
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve Resolution 24-48.
SUMMARY STATEMENT:
The Valdez Economic Diversification Commission (EDC) developed a five-year Economic Strategic Plan for the community of Valdez. The EDC began work in February 2023, developing more than 40 draft economic initiatives. In February 2024, more than 60 community leaders were invited to participate in a prioritization exercise to rank plan elements.
Through these efforts the EDC developed an economic plan with 30 economic initiatives, 6 of which they elevated to priority objective status. In June 2024 the EDC approved this plan. Valdez project champions were identified to develop and oversee the six priority objectives.
On July 16, 2024, the plan was presented to the city council as a discussion item on the City Council agenda. Staff received feedback from the City Council and adjusted the plan accordingly. Now it is being presented for adoption.