City of Morgan Hill Economic Blueprint.docx

Economic Blueprint Goals

Building on the four key pillars and extensive feedback received from the community, this Economic Blueprint identifies four key industries which will drive economic prosperity, create a fiscally sustainable future, and guide the City’s Economic Development activities in the coming years . The four industries are: 1. Innovation and Advanced Manufacturing: Grow existing companies, attract new industry, and grow professional jobs . 2. Retail: Grow retail offerings and strengthen commercial nodes. 3. Tourism: Grow leisure, agriculture, wine country & recreational tourism. 4. Healthcare: Grow and foster the medical service and diagnostics industry by attracting services and facilities.

By articulating clear intentions with these industries, and developing implementation strategies, the City and its economic development partners (Chamber of Commerce, Downtown Association, Tourism Alliance, Wineries of Santa Clara Valley, businesses, educational organizations, brokers, developers, service providers and many others) will be better positioned to realize the dividends of a focused and collaborative effort. From the City’s perspective, a primary responsibility is to make land use and policy decisions that in return will attract investment, remove unnecessary barriers, achieve economic sustainability and enhance the community’s quality of life.

As the Morgan Hill community looks to have a focused regimen around advancing the four industries, it is important to establish benchmarks to determine success. The Economic Blueprint provides a baseline of vital statistics that range from jobs and revenues to vacancy rates and industry- proven economic indicators. To achieve success in growing any of these industries will require the City to strengthen its partnerships as well as develop new ones. It will be imperative that the City and its economic development partners align efforts in supporting the four industries and thereby share in combined prosperity and success.

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