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Home My WebLink About2025-03-05; Economic Development Subcommittee; 04; Fiscal Year 2025-26 Proposed Strategic Actions Meeting Date: March 5, 2025 To: Economic Development Subcommittee From: Matt Sanford, Economic Development Director Staff Contact: Matt Sanford, Economic Development Director matt.sanford@carlsbadca.gov, 442-339-5987 Subject: Fiscal Year 2025-26 Proposed Strategic Actions Recommended Action Receive a report on proposed economic development strategic actions for fiscal year 2025-26, discuss and provide a recommendation for City Council consideration during the fiscal year 2025-26 budget process. Executive Summary The Economic Development Strategic Plan that was adopted on January 10, 2023, provides a long- term framework for guiding the city's economic development initiatives. However, the plan was designed to be updated annually to ensure the city’s efforts are adaptable to evolving economic conditions. Each year, the Economic Development Strategic Actions are updated to outline specific steps for implementing the broader strategy in the upcoming fiscal year. These actions are reviewed annually by the Economic Development Subcommittee, which can provide a recommendation to the City Council for adoption as part of the normal budget process. As part of that, the subcommittee reviews the proposed strategic actions and corresponding budget considerations and ensures alignment with business and community needs. This report contains staff’s proposed actions for fiscal year 2025-26 implementation. For fiscal year 2025-26, staff is proposing implementing 15 new actions. To address expanded project needs and to continue implementation of the city’s Economic Development Strategic Plan as proposed, staff is requesting an increased budget allocation of $60,000. The subcommittee may choose to recommend the strategic actions to the full city council for adoption as part of the regular budget process, propose changes to the action plan, or request additional information or adjustments before making a final recommendation. The total requested budget allocation will depend on what actions the subcommittee chooses to recommend. Explanation & Analysis Since the adoption of the Economic Development Strategic Plan, economic development staff have implemented a number of strategic actions in support of the City Council’s goal of economic vitality. In fiscal year 2024-25, economic development staffing levels were increased from 1.5 FTEs to 2 FTEs. This adjusted service level allowed staff to take on 40 strategic actions, including the ECONOMIC DEVELOPMENT SUBCOMMITTEE March 5, 2025 Item #4 Page 1 of 4 implementation of the Small Business Liaison program, which is currently being stood up. Economic Development Implementation Progress Over the first two and a half years of implementing the Economic Development Strategic Plan, staff have launched programs and initiatives that have strengthened Carlsbad’s business ecosystem, making the city an attractive place to operate and grow a business. Key accomplishments include: Goal 1: Support for Small Businesses, Startups, and Entrepreneurs •Hosted small business workshops to provide essential resources. •Supported Small Business Development Center (SBDC) programming in Carlsbad. •Organized Startup Week in Carlsbad for three consecutive years. •Conducted small business site visits with city leaders. •Implemented the small business liaison program to improve access to city services. •Collected and archived business resources for easy reference. •Launched a cybersecurity awareness program to enhance small business resiliency. •Introduced a shop local campaign to promote and support "Main Street" businesses. Goal 2: Workforce Development and Talent Attraction •Developed and expanded Life in Action Recruiter and the Candidate Marketplace. •Piloted and scaled the Job-Readiness Room program. •Strengthened partnerships with local and regional education institutions. •Launched a summer intern housing program with CSU San Marcos and San Diego North EDC. •Promoted paid internship programs as a valuable workforce pipeline for Carlsbad businesses. Goal 3: Supporting Key Industries •Expanded monthly industry engagement events. •Conducted site visits to businesses in Carlsbad’s key industries. •Developed targeted messaging to attract companies in high-growth industries. •Strengthened regional partnerships with key industry organizations. •Attracted business events to Carlsbad to raise the city’s profile. •Improved Business Improvement District operations for efficiency. •Enhanced relationships with commercial real estate brokers and developers. Goal 4: Placemaking and Engagement •Expanded the light post banner program to increase business district visibility. •Revitalized the monthly business update newsletter to improve communication. •Updated the social media strategy to be more relevant to businesses. •Launched a small business spotlight feature. •Began the modernization of the Carlsbad Life in Action website. Other Systems Improvements •Built and implemented a CRM system to track business engagement and progress. •Developed a digital resource hub for business support services. •Made economic data more accessible for businesses and policymakers. March 5, 2025 Item #4 Page 2 of 4 •Conducted a biennial business survey to gather feedback and insights. •Provided quarterly economic updates to the City Council. •Collaborated across departments to streamline processes and address business challenges. •Promoted a systems-thinking approach within city staff to enhance economic development impact. These accomplishments reflect the city’s ongoing commitment to fostering economic vitality, ensuring Carlsbad remains a hub for innovation, investment, and economic resilience. Strategic Actions FY 2025-26 The updated Economic Development Strategic Actions proposed for fiscal year 2025-26 is summarized below. Actions necessitating an increase to the department's budget are noted in-line. Goal 1: Support Small Businesses, Startups & Entrepreneurs •Create a program to give planning and building staff better insight into operations in key industries, thereby giving a better understanding of development need. •In partnership with the local business organizations, hold a Carlsbad Employer Open House to showcase local businesses and connect them with potential employees. ($5,000) •Celebrate women, minority, veteran, and disabled-owned businesses by acknowledging and creating events around: Women’s Small Business Month, Veterans Small Business Week, Black Business Month, Hispanic Heritage Month, etc. ($5,000) •Pilot a signage improvement program for Carlsbad small businesses. ($25,000) Goal 2: Workforce Development and Talent Attraction •Collaborate with regional partners such as SOCAL, Mira Costa College, TCI, and local businesses for workforce training for middle school, high school, post-secondary students, and transitioning adults. ($5,000) •Partner with K-12, school districts, and higher education institutions to enhance their existing programs that provide technical and soft skills to entry level employees. •Facilitate partnerships between Carlsbad’s businesses and education partners to identify skills necessary to obtain employment in high wage industries. Goal 3: Supporting Key Industries •Use data to identify specific mobility issues and select projects from the city’s Sustainable Mobility Plan that will result in a higher quality of life for Carlsbad residents and workers. •Create a site-selection tool to position Carlsbad for inbound investment. ($15,000) •Update information and mapping of Carlsbad's key industry clusters and patent intensity. •Partner with local universities and colleges to create workforce development opportunities in the hospitality, tourism, and entertainment sectors. Goal 4: Placemaking and Engagement •Develop a communications plan specific towards economic development efforts and celebrating the business community with consistent and cohesive messaging. •Develop and promote “how to” videos for select permitting processes. ($5,000) March 5, 2025 Item #4 Page 3 of 4 •Continue to celebrate local artists by enhancing the city’s Public Art Collection. •Expand the city's parklet program to create additional green space and community gathering opportunities. Fiscal Analysis The proposed strategic actions contained in this report can be implemented with an additional allocation of $60,000. Next Steps Should the subcommittee provide a recommendation, the Strategic Actions for fiscal year 2025-26, along with any potential funding changes, would be included in the budget process for City Council consideration. Exhibits None. March 5, 2025 Item #4 Page 4 of 4