FY 24-26 ADOPTED BUDGET

Economic Development (continued)

FY 2024 - 25 and 2025 - 26 Activity Goals The City ’ s ED efforts will continue to focus on creating fiscal sustainability by growing existing companies, attracting new industry, growing professional jobs, and advancing goals within the Tourism, Innovation and Advanced Manufacturing, Retail, and Healthcare sectors. Below are some of the key efforts for the upcoming fiscal years: • Tourism: Pursue new hotel development and existing hotel re - investment. Continue to promote Morgan Hill as a destination touting the wine, outdoor - recreation, and culinary assets. • Innovation and Advanced Manufacturing: Work with developers, property owners, and commercial real estate brokers to grow existing companies, attract new industry, and grow professional jobs. Actively promote and market Morgan Hill as a regional manufacturing center for Silicon Valley businesses. • Retail: Continue to work with shopping centers and property owners to grow retail offerings and strengthen commercial nodes. Continue to develop and expand retail incubation strategies that diversify retail offerings. Work with the Planning Department to minimize barriers that restrict commercial development, including updating parking requirements, obsolete Planned Developments (PDs), Zoning restrictions, and Floor Area Ratio (FAR) requirements. • Healthcare: Support the recruitment of new medical providers and the Rosewood Medical Planned Development expansion application. In addition to supporting the four key industries identified in the City ’ s Economic Blueprint, the ED team will work on the following significant efforts: • Implement Downtown parking management strategies to maximize parking spaces by identifying short - term parking. • Improve business license process to improve efficiency and capture appropriate revenue. • Modernize the City ’ s Entertainment Permit and Noise Ordinance to encourage live music and entertainment while promoting better management and security practices. • Conduct annual Business Legislative Roundtable and bi - annual HR Roundtable with major employers. • Launch economic mobility efforts to support workforce development and entrepreneurship opportunity with a focus on connecting Spanish - speaking residents to job opportunities.

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