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HomeMy WebLinkAbout2024-03-19; Economic Development Subcommittee; ; Economic Development Strategic Plan – FY 2024-25 Economic Development Strategic ActionsMeeting Date: March 19, 2024 To: Economic Development Subcommittee From: David Graham, Chief Innovation Officer Staff Contact: David Graham, Chief Innovation Officer david.graham@carlsbadca.gov, 442-339-5992 Matt Sanford, Economic Development Manager matt.sanford@carlsbadca.gov, 442-339-5987 Subject: Economic Development Strategic Plan – FY 2024-25 Economic Development Strategic Actions Recommended Action Receive an update on the implementation of the Economic Development Strategic Plan. Discuss the proposed Economic Development Strategic Actions - fiscal year 2024-25 and make a recommendation for City Council consideration during the fiscal year 2024-25 budget process. Executive Summary The Economic Development Strategic Plan is a roadmap that guides the City’s economic development activities over a five-year period beginning in 2023. The Economic Development Strategic Actions Plan is the annual implementation of the tactical steps to achieve the goals and objectives of the Economic Development Strategic Plan and outlines the tactical actions that are taken to achieve its goals and objectives. The strategic actions are updated annually and presented to the Economic Development Subcommittee for their input and recommendation to the City Council. The strategic actions for fiscal year 2024-25 were presented to the subcommittee at its January 30, 2024, special meeting. The information related to the Economic Development Strategic Plan that was considered on January 30, 2024, is included as Exhibit 1. The subcommittee provided input related to the strategic actions ahead of making a final recommendation. During the discussion on the Economic Development Strategic Plan, the subcommittee provided input that has been evaluated or incorporated for consideration in this item. The subcommittee also heard from a Carlsbad business organization about their concerns regarding service level reductions due to the potential reduction of staff and restructuring of the Innovation & Economic Development Department. In addition to the input, the subcommittee voted to direct staff to return at a future meeting with a discussion to address parking, a pilot program with North ECONOMIC DEVELOPMENT SUBCOMMITTEE March 19, 2024 Item #2 Page 1 of 20 County Transit District called Carlsbad Commuter, and information regarding what neighboring cities are doing related to mobility using a trolley or trolley-like solution. This action will provide a final recommendation from the subcommittee for the fiscal year 2024-25 implementation of the plan including funding and service levels. Explanation & Analysis On Jan. 10, 2023, the City Council adopted the Economic Development Strategic Plan which was consistent with the economic vitality goal of the City Council's five-year Strategic Plan and was one of the first objectives that was achieved. The Economic Development Strategic Plan, supported by the fiscal year 2023-24 budget, combines a long-term overarching strategy with adaptable, annually- reviewed strategic actions. On January 30, 2024, the Economic Development Subcommittee provided input to staff for the development of a recommendation to the City Council for the fiscal year 2024-25 budget and requested additional information before finalizing their recommendation. Each year, the decision related to the economic development strategic actions recommendation is made within the context of the city’s current fiscal outlook. For fiscal year 2024-25, recent updates to the city’s financial outlook have improved from the previous update. An accelerated economic recovery from the COVID-19 pandemic coupled with unprecedented inflation sustained by consumer demand contributed to the city’s General Fund ending fiscal year 2022-23 with a healthy surplus. The combined impact of budget reduction efforts in fiscal year 2022-23 and 2023-24 and the larger- than-anticipated surplus positively impacted the 10-year forecast for the city’s General Fund. The projected deficit is now not anticipated to occur until fiscal year 2028-29, three years later than the timing previously projected. However, the city is still facing economic uncertainty, most notably from extreme inflationary increases since 2021 that have added pressure to the budget. As of June 30, 2023, the city's General Fund had an ending reserve balance of $137 million, nearly $50 million above the city's policy target of 40% of the General Fund's adopted budget. With this in mind, staff are presenting a reasonable approach to implementing the City Council-approved Economic Development Strategic Plan that incorporates the input from the Economic Development Subcommittee to date. While the proposal represents a reduction in funding from the fiscal year 2023-24 level by $75,000, the strategic actions proposed for 2024-25 can still be achieved. However, if organizational changes, staff reductions or other factors impact service levels, then a re-evaluation of the implementation of the Economic Development Strategic Plan and associated Economic Development Strategic Actions may be necessary. Progress on Current Actions The following are highlights from the second quarter implementation of the Economic Development Strategic Plan and reflect significant progress: Cybersecurity Awareness In conjunction with the San Diego Cyber Center of Excellence and Carlsbad Chamber of Commerce, the city has continued to support the cybersecurity awareness program for businesses. Now, more than 60 small businesses have participated in training workshops. March 19, 2024 Item #2 Page 2 of 20 LIA Recruiter Life in Action Recruiter is ready to launch with the final details now being complete. It will go live for Carlsbad companies before the end of March. Currently, signed-up Carlsbad companies will receive notice on the updated platform, followed by broad promotion to all Carlsbad companies. Simultaneously, we will begin promoting the platform to candidates and encourage existing candidates to update their profile information. Intern Housing To alleviate a noted burden of finding summer interns who can afford to live in North County during their internship, in conjunction with the San Diego North Economic Development Council (SDNEDC), and CSU San Marcos (CSUSM), the City of Carlsbad supported the launch of a new program to allow employers to use CSUSM student housing for summer interns. The program provides discounted accommodations for summer interns as well as several enrichment programs designed to engage interns with local businesses and showcase North County attributes. Interested businesses are encouraged to connect with SDNEDC to participate. Business Visits Staff have organized a series of business visits to increase engagement between businesses, staff, and city leaders and officials. In February and March, two tours were conducted in the village. As a result of these tours, four council members, the City Manager, the Chief Innovation Officer, and the Economic Development Manager participated in different meetings. Attendees heard the direct perspective of seven unique businesses and received a broad overview of trends in the Village area from the executive director of the Carlsbad Village Association. Industry Discussions Staff have continued to convene industry stakeholders, capturing each of Carlsbad’s key industries on a rotating basis. Through these convenings, the city aims to develop more cross-pollination within industries and create a more robust ecosystem of activity. Each month, staff pulls together 10-15 leaders from a key industry, including large companies and small startups, to discuss trends, challenges, and opportunities. Dashboard of Economic Indicators Each quarter, staff presents a quarterly economic scan to the City Council. This scan helps the City Council understand current economic conditions and trends. However, staff also receives questions about various aspects of Carlsbad’s economy regularly from businesses and the public. To keep the City Council, city leaders, staff, and the public better informed, economic development staff have created a dashboard of economic indicators that will be updated as new data is released. This will ensure more timely updates as the dashboard will be automatically refreshed as new data is released. March 19, 2024 Item #2 Page 3 of 20 Job Postings In response to a question from the City Council, staff has updated job-posting trend information to include a comparison with the North County area as well as San Diego as a whole. The trend shows that Carlsbad’s decline in job postings tracks with the region as a whole. Staff also discussed the jobs trends with the San Diego Regional Economic Development Corporation who concurred that job postings are declining in general, but that they were artificially high over the past two years. We are likely to see trends normalize to a lower posting average on par with pre-pandemic levels. Commercial Real Estate Trends The City Council also asked a question regarding trends in commercial real estate. Specifically, it was asked how Carlsbad’s commercial real estate was doing in comparison with other parts of the county. In general, trends for net absorption in Carlsbad – the amount of vacant space leased or purchased, minus the amount of space that was vacated – followed trends around the county. However, the comparison does not accurately account for the unique attributes of different areas. For example, Carlsbad’s land zoned for commercial space is largely built out, which means net March 19, 2024 Item #2 Page 4 of 20 City of Carlsbad Economic Development Dashboard Eco'llllmic Overv1ew ,.__ra_,._,.._&_w_~_"_"_""_· D_•_mog_,,_,•_•~ _ _,l._l __ enm __ m,_,ro_·,_1 •_=_,_•~-"-• _ __.,II Buc;im!!il'i M i111ty& lndur;t,y □.isters Economic Overview-Key Indicators Snapshot Car ls:JcH.l's ~cu11om y is chc::11<.'lc:l€:c>rizE::-J by its w bustn"°ss c1n<l d i•,Brsit1•. supµurtB:..i by ...i r<m9e of industriBs ctnd favorc:1Ule economic ,ndicators. I ne c."ty's Gro55 LJornestic Product (GL>PJ shmvs steady growth. dr ven by key sec.tors such as life scif!nc~s, tP.chnology, sports ·nnovmh,n ,m<l d~si9n,. clP.nntP.t.h, ;rn,rl hospitnrty ,md tourism. With a healthy employment rate and a skil'ed wor<force, Carlsbad rna·m:ains its econom·c p hodsf!hok! incomf! :..llr fJA~SP.S the nntionnl nvf!rngf!, rF.flF.cting its high f11Jnlity of life. C:,:,rlsb,K diverse, 1.-Jith a wide range of ndustries contributing w its economic stability and resilience. rtr:nrr n::tt t::tttt rs:srr $17.18 4.2% I $1.45M 04, 2023 01, 2023 04, 2023 li!Tittllttt $146,596 28.5 6,667 j Minutes 04, 2D23 2022 2023 '"" '"" '"" '"" "'" "" ·10% -20% ·30% -40% -50% 04, 2023 Job Posting Comparison m m m ~ m m m m m m m m m m m ~ m m m ~ 2019 2020 2021 2022 2023 -s.anOieaoCountv -Non:hCounty -cansbad absorption will likely be less than in areas where new development is still coming online. Another explanation for differences is the different uses of space. For example, industrial space in Carlsbad may be used for high-tech or biotech manufacturing, which is a substantially different use than industrial space in Otay Mesa, which is largely warehousing and distribution. These factors make a comparative analysis difficult, but the chart below attempts to portray the overall differences in net absorption compared to North County and the County as a whole. March 19, 2024 Item #2 Page 5 of 20 Office Net Absorption 1,200,000 1,000,000 800,000 600,000 400,000 200,000 (200,000) (400,000) (600,000) (800,000) (1,000,000) Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 o• 2019 2020 2021 2022 2023 -San Diego County -NorthCounty -Carlsbad Retail Net Absorption 800,000 600,000 400,000 200,000 (200,000) (400,000) (600,000) {800,000) (1,000,000) Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 2019 2020 2021 2022 2023 -San Oil!'&O County -Norm County -CattSbad Industrial + Flex Net Absorption 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 (1,000,000) (2,000,000) Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 QI Q2 Q3 Q4 Ql Q2 Q3 Q4 2019 2020 2021 2022 2023 --san OieiO County --Nonh County --c.ar1sbad Carlsbad General Plan Mobility Element and Sustainable Mobility Plan The city's transportation and mobility team has been active in the development and administration of programs aimed at mitigating parking and mobility issues, which are covered in the Sustainable Mobility Plan (SMP). While the Economic Development Strategic Plan highlights the association of these issues with economic development, the work being done to address parking and mobility challenges is captured in the SMP and Parking Management Plan (PMP). The city’s SMP was adopted by City Council in January 2021 and presents recommendations for reducing vehicle miles traveled, mitigating the impacts of growth and development and shifting how residents get around the city away from private automobiles towards modes that are more livable, cleaner, and healthier. Increasing transportation options and improving connectivity within the city are core values of the SMP and the Carlsbad Community Vision (Envision Carlsbad 2010 and Carlsbad General Plan, 2015). The General Plan Mobility Element further defines these values with several goals related to sustainable mobility: • Keep the City of Carlsbad moving with livable streets that provide a safe, balanced, cost- effective, multimodal transportation system (vehicles, pedestrians, bikes, transit) accommodating the mobility needs of all community members, including children, the elderly, and the disabled. (3-G.1) • Improve connectivity for residents, visitors, and businesses (3-G.2) • Manage parking to support all modes of transportation and ensure efficient use of land. (3- G.4) The SMP marks a crucial step in realizing the goals outlined in the Mobility Element. It aims to create a toolkit of new measures geared towards facilitating transit, walking, and cycling for short, everyday trips across the city, thereby alleviating traffic congestion, enhancing safety, and cutting emissions in line with the city's Climate Action Plan. During the SMP outreach, community members highlighted several pressing issues, including the need for innovative travel options, gap closure projects, and first/last mile services that provide access between major transit stations and residential and employment areas. Residents of Carlsbad expressed a strong desire to transition away from single-occupancy vehicles towards alternative mobility options like on-demand microtransit. This shift is driven by the challenges in accessing traditional fixed-route transit, underscoring the need for more accessible transportation solutions. Carlsbad Connector Microtransit Pilot Project On Aug. 19, 2019, the Carlsbad Connector, an on-demand shuttle service was launched as the first program of its kind in San Diego County to transport commuters between the Carlsbad Poinsettia COASTER station and workplaces in Carlsbad with the Palomar Airport Road Business Park. This program was intended to bolster COASTER ridership by offering a flexible and convenient solution bridging the gap between the station and the city's primary employment center along Palomar Airport Road. The program was also a successful example of a public/private partnership between the City of Carlsbad, NCTD, SANDAG, and Carlsbad employers. At its peak in February 2020, the Connector transported over 400 riders per week and amassed more than 10,000 rides over its 12-month lifespan. However, the pilot program was terminated in July 2022 due to the COVID-19 pandemic. March 19, 2024 Item #2 Page 6 of 20 Subsequently, NCTD decided against reinstating the Carlsbad Connector service. Instead, it plans to introduce similar microtransit pilot programs in San Marcos, Vista, Fallbrook, and eastern Oceanside. Neighboring City Programs: Oceanside “G’Oside” EV Shuttle Program In the summer of 2023, the City of Oceanside implemented an electric vehicle (EV) microtransit shuttle program in Downtown Oceanside called “g’Oside.” This program provides two years of funding from Visit Oceanside and SANDAG. In the program’s first month of operations the service provided over 6,000 trips within the downtown area. The service has a fare of $3 per passenger which is capped at $6 for groups of more than two. Other notable data points from this service include: • Thursdays and weekends had the highest utilization. • Top points of service were the Hyatt resorts, beach/pier, and the Paradise by the Sea RV resort. • Shuttle utilization in the eastside residential neighborhood was also significant. Perception of the program is that it is successful but costly, with an average cost of about $50,000 per month. SANDAG is currently funding about 50% of the program cost for the first two years, at which time the City of Oceanside will evaluate whether or not to continue the program. Strategic Actions FY 2024-25 At the January 30, 2024, on Special Meeting of the City Council Economic Development Subcommittee, Subcommittee members requested an update on parking and mobility programs, given the perception of impacted parking in the Village and other coastal areas, and the impact on businesses in those areas. Based on input from the Subcommittee, staff followed up with the Community Development and Transportation departments to fine-tune actions, define deliverables, and ensure that an item related to parking and its impact on business and commerce was included in the Economic Development Strategic Plan. The updated Economic Development Strategic Actions for fiscal year 2024-25 document (Exhibit 2) reflects these updates. The additional item highlights the critical issue of parking and mobility challenges within Carlsbad, with a particular focus on the coastal areas, as the upcoming Parking Management Plan (PMP) will demonstrate. These challenges not only impact the quality of life for residents but also may pose barriers to the success and viability of Carlsbad small businesses and retailers. The perception of scarce parking options can deter potential customers, directly affecting the economic vitality and sustainability of businesses that make up Carlsbad's local economy. Parking and mobility options are fundamental to ensuring that Carlsbad businesses remain competitive and attractive to both residents and visitors. Specifically, the following was added as a strategic action in objective 3.1 - Evaluate opportunities to improve mobility for visitors, residents, and the workforce: Action: Use data to identify specific mobility issues and select projects from the City’s Sustainable Mobility Plan and Parking Management Plan that will result in a higher quality of life for Carlsbad residents and workers. Deliverable: Propose actions from the PMP and SMP that will help address parking challenges experienced by businesses March 19, 2024 Item #2 Page 7 of 20 The action is proposed to kick off in fiscal year 2025-26, which will be after the updated PMP is completed and considered by the City Council. Staff will return to the subcommittee during the fiscal year 2025-26 planning process should there be an associated budget request. The updated plan contains both actions proposed to be continued from fiscal year 2023-24 into fiscal year 2024-25, as well as new actions that would be appropriate to start in fiscal year 2024-25. The combination of actions that were implemented in the first year and new actions proposed for the second year amount to 39 separate actions that are proposed to be implemented in fiscal year 2024-25. This includes 22 actions that are being continued from year 1, and 17 new actions are being proposed to start in year 2. There are an additional 24 actions proposed to commence in subsequent years. The implementation plan could be impacted by a diminished staffing capacity, which could yield a drop in service levels. The Economic Development Strategic Plan and the fiscal year 2024-25 Economic Development Strategic Actions will be implemented through a combination of city staff, professional services contracts, partnerships with local business organizations, and collaboration with industry cluster organizations. City staff across multiple departments have a role in implementing the strategic plan. The City Council decisions over the past four years have significantly supported Carlsbad businesses and laid a strategy for a vibrant economy into the future. The Economic Development Subcommittee continues to be an important resource for businesses and business organizations to engage with the city. After one year of implementation of the plan, it is clear the city is on the right track and should continue investing in its implementation. Fiscal Analysis For fiscal year 2023-24, the Economic Development Subcommittee recommended that $185,000 in funding be dedicated to the implementation of the Economic Development Strategic Plan, including $75,000 in one-time funding for the biennial business survey, and $110,000 in ongoing funding for continuing actions. The City Council approved that recommendation in its entirety. For fiscal year 2024-25, staff are proposing to execute the proposed actions with a consistent level of ongoing funding ($110,000) from the previous fiscal year. No additional allocation above the current level is being requested. Next Steps Staff will appropriately respond to the discussion and direction by the subcommittee and will present their recommendation on the Economic Development Strategic Actions – Fiscal Year 2024- 25 to the City Council for their consideration. Exhibits 1. Jan. 30, 2024 Staff Report - Fiscal Year 2024-25 Economic Development Strategic Actions (on file in the Office of the City Clerk) 2. Economic Development Strategic Actions – Fiscal Year 2024-25 March 19, 2024 Item #2 Page 8 of 20 Exhibit 1 Jan. 30, 2024 Staff Report - Fiscal Year 2024-25 Economic Development Strategic Actions (on file in the Office of the City Clerk) March 19, 2024 Item #2 Page 9 of 20 ECONOMIC DEVELOPMENT STRATEGIC ACTIONS FISCAL YEAR2024-25 YEAR 2 ACTION PLAN Exhibit 2 March 19, 2024 Item #2 Page 10 of 20 {city of Carlsbad __.-:::::::; About the Strategic Actions Matrix The Economic Development Strategic Plan is a roadmap that will guide the city’s economic development activities for the next five years. The Strategy comes at a critical time for the city and the community. Given the economic uncertainty of the past few years, changing market pressures, international conflict, and shortage of available workers, it is more important than ever to identify Carlsbad’s economic development strategies and to prepare for future challenges. The Strategic Plan provides flexible and agile guidance for Carlsbad to address City Council’s goal of economic vitality: fostering a vibrant community. This Economic Development Strategic Actions matrix accompanies the Strategic Plan as a guide for the tactical actions that will build toward achieving the overarching goals and objectives in the Strategic Plan. The Strategic Actions will allow the city to re-prioritize or realign strategies as economic conditions change or if priorities shift throughout the tenure of the Strategic Plan. While the Innovation and Economic Development Department (I&ED) is the lead on these efforts, economic development is collaborative, and is not limited to one department, group, or organization. The Strategic Actions document thoughtfully involve multiple city departments, local and regional partners, workforce and talent, residents, and the broad and diverse businesses that support the community. As such, the Strategic Actions are intended to assist the city in aligning its program priorities to match the market opportunities identified in the Strategic Plan. While the Strategic Actions document assigns time frames to each tactic, it does not make staffing recommendations regarding the implementation of these programs. I&ED is a small, but mighty department, however, with its limited economic development staff, it may not be possible to implement all of the proposed actions without additional staff and resources. The Strategic Actions document assumes that new activities and programs would be phased in over several years and acknowledges that many of the proposed tactics involve activities that the city is already undertaking. It also provides an estimate of cost. The cost estimates provided are updated for each fiscal year, and projected forward for future years. The estimate provided for future years will be updated on an annual basis to ensure accuracy and adaptability to the current budget conditions, as the specific implementation time frame approaches. The City of Carlsbad believes in transparency and accountability, and as such, staff will regularly update the Economic Development Subcommittee on the progress made on the goals and objectives in the Strategic Plan and Strategic Actions document. | 2 | CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2March 19, 2024 Item #2 Page 11 of 20 City of Carlsbad Economic Development Strategic Plan Goals GOAL 1: Support Small Businesses, Startups & Entrepreneurs Support Small Businesses, Startups & Entrepreneurs in partnership with local and regional collaborators, supporting the long-term viability of entrepreneurs and small businesses in Carlsbad. GOAL 2: Develop Workforce and Attract Talent Develop and attract workers and talent by providing skills, resources, and support for current and future jobs. GOAL 3: Grow and Support Key Industries Grow and support key industries by providing and creating resources for these industries to thrive in Carlsbad’s economy. GOAL 4: Encourage Placemaking and Engagement Encourage a sense of connection in our community by building upon our successes and promoting access to economic development resources and opportunities. CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 3 | DRAFT Fiscal Year 2024-25 Budget Considerations The proposed activities for fiscal year 2024-25 are achievable utilizing the department’s fiscal year 2023-24 budget level. Due to the current budget mandate, items that were originally slated for fiscal year 2024-25 that necessitated additional budget beyond fiscal year 2023-24 funding levels were moved to subsequent years for consideration. As such, the proposed Year 2 Strategic Actions do not contain a funding request above the department’s fiscal year 2023-24 levels. Updates to the Strategic Actions Matrix The five-year implementation timeline means that new actions will be started during each year of the strategy. Over time, these actions will accumulate to demonstrate expanded impact and programming. On the matrix presented on the following pages, actions that are “Complete” or “Ongoing” from previous years are shown in GREEN. “In Progress” and new actions that will commence in fiscal year 2024-25 are shown in YELLOW. When combined, between actions that were implemented in the first year, and new actions proposed for the second year, there are 39 actions that are proposed to be implemented in fiscal year 2024-25. March 19, 2024 Item #2 Page 12 of 20 CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 4 | Objective Strategic Action Deliverable Status Priority:High Start Year:FY23-24 Cost:Funded Lead:I&EDPriority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:CD & IT Priority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:$100,000 Lead:I&ED & CD Priority:Low Start Year:FY25-26 Cost:$5,000 Lead:I&ED Permit submittal statuses available to check online Utilizing Energov, track turnaround times for planning applications and permits to identify areas to increase efficiency. Complete (ongoing) CD staff tracks turnaround times. Example includes enabled streamlined signage application Track turnaround times of permit applications Objective 1.2: Provide a positive customer service experience during the permitting process. Not Started Create a program to give planning and building staff better insight into operations in key industries, thereby giving a better understanding of development need. Industry workshops with staff Not Started Creation of a one stop shop permit center that allows customers to access resources related to the permitting process in one location. Customer Self Service Portal Complete Roll out of Energov self service portal Create an option for applicants to request project resolution issue meetings to resolve high priority, time- sensitive issues with senior level Development Services staff. Creation of a project resolution process Complete Evaluate a potential economic development priority project designation for planning and permitting review that could included expedited review, enhanced communication and/or other allowances. Create priority project criteria; Identify options to expedite Promote the pre-application program to help identify major issues early in the entitlement process. Pre-application process becomes a primary tool for developers with questions regarding development projects Complete (ongoing) Information included in discussions with developers and new companies Enhance the Welcome to Carlsbad Program for new businesses by providing information and resources on the pre-application program, permitting process, and business resources. Ensure new businesses have access to resources and information needed to grow their business Complete Available on the city’s business page of the website Continue the implementation of the Customer Self Service program within the permitting application system, Energov, to increase the number of Building, planning, and other permits available online In Progress (10% complete) 12 permits now available, goal to have 200 permits available online Increase the ability for customers to track the status of their projects online.  In Progress (25% complete) Building permits now available, other permits in development Objective 1.1: Educate the public on the permitting and entitlement process and provide City staff with the knowledge and resources they need to provide such information Goal 1: Support Small Businesses, Startups & Entrepreneurs in partnership with local and regional collaborators, supporting the long-term viability of entrepreneurs and small businesses in Carlsbad. Celebrate staff’s role in economic development of Carlsbad and continue to educate on how their work can lead to success and economic health in the Work across City Departments to ensure staff understands how their work impacts Economic Development Complete (ongoing) Communications between internal departments that interact with businesses to convey economic impact Resourcing Continually review the planning application and permitting procedures to identify process improvements. Continuous audit of procedures Complete (ongoing) System in place. Recent examples include ADU by-right process, comprehensive form updates Objective Strategic Action Deliverable Status Priority:High Start Year:FY23-24 Cost:Funded (Staff time)Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:CD & IT Priority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded (Staff time) Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded (Staff time) Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded (Staff time) Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded Lead:CD Priority:Medium Start Year:FY25-26 Cost:$100,000 Lead:I&ED & CD Priority:Low Start Year:FY25-26 Cost:$5,000 Lead:I&ED Permit submittal statuses available to check online Utilizing Energov, track turnaround times for planning applications and permits to identify areas to increase efficiency. Complete (ongoing) CD staff tracks turnaround times and reports KPIs for plan check review times. Track turnaround times of permit applications Not Started Creation of a one stop shop permit center that allows customers to access resources related to the permitting process in one location. Customer Self Service Portal Complete Roll out of Energov self service portal Create an option for applicants to request project resolution issue meetings to resolve high priority, time-sensitive issues with senior level Development Services staff. Creation of a project resolution process Complete Evaluate a potential economic development priority project designation for planning and permitting review that could included expedited review, enhanced communication and/or other allowances. Create priority project criteria for projects that fall within key industries and meet certain defined parameters; Identify options to expedite pending available staffing resources Promote the pre-application program to help identify major issues early in the entitlement process. Objective 1.2: Provide a positive customer service experience during the permitting process. Not Started Create a program to give planning and building staff better insight into operations in key industries, thereby giving a better understanding of development need. Industry workshops with staff Pre-application process becomes a primary tool for developers with questions regarding development projects Complete (ongoing) Information included in discussions with developers and new companies (https://www.carlsbadca.gov/home/sh owpublisheddocument/8210/63770846 9063930000 ) Enhance the Welcome to Carlsbad Program for new businesses by providing information and resources on the pre-application program, permitting process, and business resources. Ensure new businesses have access to resources and information needed to grow their business Complete Available on the city’s business page of the website Continue the implementation of the Customer Self Service program within the permitting application system, Energov, to increase the Building, planning, and other permits available online In Progress (10% complete) 12 permits now available, goal to eventually have 200 permits available online Increase the ability for customers to track the status of their projects online.  In Progress (25% complete) Building permits now available, other permits in development Objective 1.1: Educate the public on the permitting and entitlement process and provide City staff with the knowledge and resources they need to provide such information Celebrate staff’s role in economic development of Carlsbad and continue to educate on how their work can lead to success and economic health in the City. Work across City Departments to ensure staff understands how their work impacts Economic Development Complete (ongoing) Communications between internal departments that interact with businesses to convey economic impact Resourcing Continually review the planning application and permitting procedures to identify process improvements. Continuous audit of procedures Complete (ongoing) System in place. Recent examples include ADU by-right process, comprehensive form updates March 19, 2024 Item #2 Page 13 of 20 CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 5 | DRAFT Priority:Medium Start Year:FY25-26 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded (part of $5000 to pay for costs of hosting) Lead:I&ED & Libraries Priority:Low Start Year:FY23-24 Cost:Funded (previously allocated in ERRI budget. Ongoing cost is staff time) Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded (membership dues in organizations) Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:$10,000 Lead:I&ED Priority:Low Start Year:FY25-26 Cost:$100,000 Lead:I&ED Priority:Low Start Year:FY24-25 Cost:Funded ($10,000 sposorship of Startup SD) Lead:I&EDPriority:Low Start Year:FY24-25 Cost:Funded Lead:I&ED Priority:Low Start Year:FY26-27 Cost:Funded Lead:CD Priority:Medium Start Year:FY25-26 Cost:$10,000 Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:$25,000 In Progress (75% complete) Program being built in conjunction with Chamber, CVA and Visit Carlsbad A resource and marketing kit for businesses to demonstrate the importance and impact of shopping local Continue to host a day of San Diego Startup Week in Carlsbad to demonstrate the city's importance to the startup ecosystem in North County and the region as a whole. Host a day of startup week Proposed to Start in 2024 Piloted in 2022 & 2023. Proposing to make it an on-going activity in 2024. Objective 1.3: Empower small businesses and entrepreneurs with resources they need to be successful in Carlsbad Evaluate potential solutions to give a clearer understanding of zoning prior to submittal. (OpenCounter) Implement a solution to make zoning and planning information more accessible Not Started Not Started Create Small Business and Entrepreneur Symposium on basic and critical issues for small business owners. Topics could include marketing, social media, finance, human resources, access to capital, technology, and more. In Progress (33% complete) Partnership with SBDC and Carlsbad Libraries Position libraries as resource centers for small businesses to gain skills and information needed to run or grow their operations Partner with business organizations to develop a shop local initiative to encourage patronage at Carlsbad businesses.  Develop a Small Business Liaison Program that includes a dedicated liaison to resolve issues with the small business and entrepreneur community. Identify / add staff person to manage program Evaluate signage requirements for businesses. Design an engagement mechanism to hear from residents and businesses, pending resource availability Proposed to Start in 2024 Expand partnerships with entrepreneur support organizations and regional business partners to connect entrepreneurs with resources, networks, and capital. Partner with entrepreneur support organizations for services Complete (ongoing) Partnered with Connect, Startup San Diego, and San Diego Sport Innovators to support entrepreneurs and startups In partnership with the local business organizations, hold a Carlsbad Employer Open House to showcase local businesses and connect them with potential Host or support an open-house event of Carlsbad employers Not Started Partner with the Employer Assistance and Resource Network on Disability Inclusion (EARN) to create resources for disabled- Establish Partnership(s)Not StartedObjective 1.5: Increase engagement and support for women, minority, veteran, disabled-owned businesses Through a data driven approach, consider additional flexibility in the development code to allow for more agility as business trends change Identify outdated planning practices and codes In conjunction with regional partners such as SBA, SCORE, and SBDC, offer trainings specifically Establish Partnership(s)Not Started Not Started Objective 1.4: Embrace the changing nature of work and what that may look like for Carlsbad businesses Objective Strategic Action Deliverable Status Priority:High Start Year:FY23-24 Cost:Funded Lead:I&EDPriority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:CD & IT Priority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:$100,000 Lead:I&ED & CD Priority:Low Start Year:FY25-26 Cost:$5,000 Lead:I&ED Permit submittal statuses available to check online Utilizing Energov, track turnaround times for planning applications and permits to identify areas to increase efficiency. Complete (ongoing) CD staff tracks turnaround times. Example includes enabled streamlined signage application Track turnaround times of permit applications Objective 1.2: Provide a positive customer service experience during the permitting process. Not Started Create a program to give planning and building staff better insight into operations in key industries, thereby giving a better understanding of development need. Industry workshops with staff Not Started Creation of a one stop shop permit center that allows customers to access resources related to the permitting process in one location. Customer Self Service Portal Complete Roll out of Energov self service portal Create an option for applicants to request project resolution issue meetings to resolve high priority, time- sensitive issues with senior level Development Services staff. Creation of a project resolution process Complete Evaluate a potential economic development priority project designation for planning and permitting review that could included expedited review, enhanced communication and/or other allowances. Create priority project criteria; Identify options to expedite Promote the pre-application program to help identify major issues early in the entitlement process. Pre-application process becomes a primary tool for developers with questions regarding development projects Complete (ongoing) Information included in discussions with developers and new companies Enhance the Welcome to Carlsbad Program for new businesses by providing information and resources on the pre-application program, permitting process, and business resources. Ensure new businesses have access to resources and information needed to grow their business Complete Available on the city’s business page of the website Continue the implementation of the Customer Self Service program within the permitting application system, Energov, to increase the number of Building, planning, and other permits available online In Progress (10% complete) 12 permits now available, goal to have 200 permits available online Increase the ability for customers to track the status of their projects online.  In Progress (25% complete) Building permits now available, other permits in development Objective 1.1: Educate the public on the permitting and entitlement process and provide City staff with the knowledge and resources they need to provide such information Goal 1: Support Small Businesses, Startups & Entrepreneurs in partnership with local and regional collaborators, supporting the long-term viability of entrepreneurs and small businesses in Carlsbad. Celebrate staff’s role in economic development of Carlsbad and continue to educate on how their work can lead to success and economic health in the Work across City Departments to ensure staff understands how their work impacts Economic Development Complete (ongoing) Communications between internal departments that interact with businesses to convey economic impact Resourcing Continually review the planning application and permitting procedures to identify process improvements. Continuous audit of procedures Complete (ongoing) System in place. Recent examples include ADU by-right process, comprehensive form updates Objective 1.2: continued March 19, 2024 Item #2 Page 14 of 20 CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 6 | DRAFT Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:$25,000 Lead:I&ED geared towards supporting women, minority, veteran, and disabled- owned businesses. 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, Creation of events that promote inclusivity Not Started Objective Strategic Action Deliverable Status Priority:High Start Year:FY23-24 Cost:Funded Lead:I&EDPriority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:CD & IT Priority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & CD Priority:Medium Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:$100,000 Lead:I&ED & CD Priority:Low Start Year:FY25-26 Cost:$5,000 Lead:I&ED Permit submittal statuses available to check online Utilizing Energov, track turnaround times for planning applications and permits to identify areas to increase efficiency. Complete (ongoing) CD staff tracks turnaround times. Example includes enabled streamlined signage application Track turnaround times of permit applications Objective 1.2: Provide a positive customer service experience during the permitting process. Not Started Create a program to give planning and building staff better insight into operations in key industries, thereby giving a better understanding of development need. Industry workshops with staff Not Started Creation of a one stop shop permit center that allows customers to access resources related to the permitting process in one location. Customer Self Service Portal Complete Roll out of Energov self service portal Create an option for applicants to request project resolution issue meetings to resolve high priority, time- sensitive issues with senior level Development Services staff. Creation of a project resolution process Complete Evaluate a potential economic development priority project designation for planning and permitting review that could included expedited review, enhanced communication and/or other allowances. Create priority project criteria; Identify options to expedite Promote the pre-application program to help identify major issues early in the entitlement process. Pre-application process becomes a primary tool for developers with questions regarding development projects Complete (ongoing) Information included in discussions with developers and new companies Enhance the Welcome to Carlsbad Program for new businesses by providing information and resources on the pre-application program, permitting process, and business resources. Ensure new businesses have access to resources and information needed to grow their business Complete Available on the city’s business page of the website Continue the implementation of the Customer Self Service program within the permitting application system, Energov, to increase the number of Building, planning, and other permits available online In Progress (10% complete) 12 permits now available, goal to have 200 permits available online Increase the ability for customers to track the status of their projects online.  In Progress (25% complete) Building permits now available, other permits in development Objective 1.1: Educate the public on the permitting and entitlement process and provide City staff with the knowledge and resources they need to provide such information Goal 1: Support Small Businesses, Startups & Entrepreneurs in partnership with local and regional collaborators, supporting the long-term viability of entrepreneurs and small businesses in Carlsbad. Celebrate staff’s role in economic development of Carlsbad and continue to educate on how their work can lead to success and economic health in the Work across City Departments to ensure staff understands how their work impacts Economic Development Complete (ongoing) Communications between internal departments that interact with businesses to convey economic impact Resourcing Continually review the planning application and permitting procedures to identify process improvements. Continuous audit of procedures Complete (ongoing) System in place. Recent examples include ADU by-right process, comprehensive form updates & Libraries Objective 1.5: continued March 19, 2024 Item #2 Page 15 of 20 Objective Strategic Action Deliverable Status Priority:High Start Year:FY23-24 Cost:Funded ($50,000 contract with Role Call and $8,000 contract with DCI for website hosting ) Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded (part of $5000 to pay for costs of hosting)Lead:Libraries & I&ED Priority:Medium Start Year:FY25-26 Cost:$5,000 Lead:I&ED & Libraries Medium Start Year:FY25-26 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY24-25 Cost:Funded (staff time) Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded (Part of $60,000 contract with Rising Tide)Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded Lead:IT Priority:Medium Start Year:FY25-26 Cost:$100,000 Priority:Low Start Year:FY23-24 Cost:$1M - 3M Lead:Transport Objective 2.2: Create a more connected City and capitalize on existing digital tools to promote digital equity Support the formation of internship programs for Carlsbad employers and reduce the barrier for interns to participate Support and facilitate resources to expand internship programs Proposed to Start in 2024 Objective 2.1: Enhance workforce training and talent attraction resources to support Carlsbad’s key industries by partnering with K-12 school districts, regional higher educational institutions, and regional cities to support talent development and linkages with key industries 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. Create and maintain partnerships Not Started Facilitate partnerships between Carlsbad’s businesses and education partners to identify skills necessary to obtain employment in high wage industries. A better-informed higher educational system as to the needs for skills in the workforce In Progress (50% complete) Staff regularly conveys skills demand to higher education partners Promote the City’s existing digital tools to connect residents, businesses, and tourists to resources the city offers. Added messaging to outbound communications Complete (ongoing ) Resources promoted in economic development newsletters and social media communications Conduct an initial study for outdoor Wi-Fi at city facilities and other critical areas for the public. Enhance and promote educational workshops provided by the Library, Parks and Recreation and other resources that provide skill development to Carlsbad’s workforce. Objective 2.4: Through the implementation of the Sustainable Mobility Plan programs, mindfully create opportunities to promote economic vitality by providing the Carlsbad workforce with additional mobility options Evaluate micro-mobility options to make Carlsbad more connected and accessible. Increased ridership on public transit and other multi-modal options Complete Feasibility analysis and report completed. Recommendations deemed unfeasible to implement at this time Evaluate partnership with local businesses to enhance the current Down Payment Assistance Program. Position libraries as resource centers for small businesses to gain skills and information needed to run or grow their operations Not Started I&ED H&HS Objective 2.3: Through the implementation of the Housing Element programs, address housing issues while promoting economic vitality by providing the workforce additional housing opportunities to be able to both live and work in Carlsbad Lead: Delivery of skills-based training for Carlsbad residents Complete (ongoing) Piloted the Job-Readiness Room program and learned key insights into how to better support skills training. Ensure adequate wi-fi access is available at appropriate city facilities In Progress (50% complete) Data gathering, research, and cost estimation have been completed 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. Create and maintain partnerships Not Started Goal 2: Develop and attract workers and talent by providing skills, resources, and support for current and future jobs. Resourcing Enhance Life In Action tools to assist in talent attraction for Carlsbad businesses in key industries - transitioning Life in Action Recruiter tool from a pilot to an ongoing resource for Carlsbad businesses. Update interface to be more useful and intuitive for businesses, allows for better data gathering on usage In Progress (90% complete) Work being done internally with other departments that interface with businesses CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 7 | March 19, 2024 Item #2 Page 16 of 20 CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 8 | DRAFT Objective Strategic Action Deliverable Status Priority:High Start Year:FY23-24 Cost:Funded Lead:Transport Priority:High Start Year:FY25-26 Cost:Funded Lead:Transport Priority:High Start Year:FY23-24 Cost:Funded (Staff time & part of $75,000 contract with Zencity) Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded ($20,000 contract with SDNEDC & part of $20,000 contract with Connect)Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded (staff time) Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded (Staff time, $10,000 Contract with With & Part of $60,000 contract with Rising Tide)Lead:I&ED Priority:Medium Start Year:FY24-25 Cost:Funded (staff time) Lead:I&ED Priority:High Start Year:FY24-25 Cost:Funded (part of $20,000 contract with Connect)Lead:I&ED Priority:High Start Year:FY24-25 Cost:Funded (staff time) Proposed to Start in 2024 Objective 3.1: Evaluate opportunities to improve mobility for visitors, residents, and the workforce. Host commercial real estate forums to create connections with resources. Recurring forum with commercial brokers Proposed to Start in 2024 Promote the city’s business locator website to businesses looking to move to Carlsbad, developers, brokers, and investors. Increased awareness of tools to support businesses moving to Carlsbad Complete (ongoing) Messaging included in Economic Development in newsletter and social media Host industry advisory groups with leaders in key business clusters, with a specific emphasis on the innovation economy.  Create an ongoing series of industry roundtable discussions Complete (ongoing) Roundtable series captures all key industries Use data to identify specific mobility issues and select projects from the City’s Sustainable Mobility Plan and Parking Management Plant that will result in a higher quality of life for Carlsbad residents and workers. Propose actions from the PMP and SMP that will help address parking challenges experienced by businesses Support regional innovation showcases, like "Innovation Day" to demonstrate Carlsbad's commitment to fostering innovative firms and industries. Support innovation showcases like "Innovation Day" Proposed to Start in 2024 This activity has happened in the past but was not part of the EDSP actions Objective 3.3: Assist businesses in growing industries or sectors, such as health care, life sciences, and the innovation economy, which are looking to relocate or expand in Carlsbad. Create a form to better track BEAR projects and their impact on the city. Develop an intake form and tracking sheet Not Started Objective 3.2: Connect businesses in key sectors with data and resources they need to thrive in Carlsbad. Use business data and recent business survey to assess and engage with industry clusters to develop support for their expansion, attraction, and retention. Survey businesses biannually and use data to engage with key industries In Progress (50% complete) Business survey is live, results will be compiled to capture meaningful data on key industries Utilize partnership with Innovate 78 to connect Carlsbad businesses with regional resources. Cohesive economic development and collaboration across North County Complete (ongoing) Regional collaboration pivoting in 2024 to be more resource-driven Goal 3: Grow and support key industries by providing and creating resources for these industries to thrive in Carlsbad’s economy. Resourcing Evaluate micro-mobility and parking options in the Village and coastline to make Carlsbad more connected and accessible. Provide analysis of mobility and parking options that enhance connectivity and accessibility In Progress (75% complete) Potential collaboration with the City of Encinitas. PMP drafted March 19, 2024 Item #2 Page 17 of 20 CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 9 | DRAFT Objective Strategic Action Deliverable Status Priority:High Start Year:FY23-24 Cost:Funded Lead:Transport Priority:High Start Year:FY25-26 Cost:Funded Lead:Transport Priority:High Start Year:FY23-24 Cost:Funded (Staff time & part of $75,000 contract with Zencity) Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded ($20,000 contract with SDNEDC & part of $20,000 contract with Connect)Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded (staff time) Lead:I&ED Priority:Medium Start Year:FY23-24 Cost:Funded (Staff time, $10,000 Contract with With & Part of $60,000 contract with Rising Tide)Lead:I&ED Priority:Medium Start Year:FY24-25 Cost:Funded (staff time) Lead:I&ED Priority:High Start Year:FY24-25 Cost:Funded (part of $20,000 contract with Connect)Lead:I&ED Priority:High Start Year:FY24-25 Cost:Funded (staff time) Proposed to Start in 2024 Objective 3.1: Evaluate opportunities to improve mobility for visitors, residents, and the workforce. Host commercial real estate forums to create connections with resources. Recurring forum with commercial brokers Proposed to Start in 2024 Promote the city’s business locator website to businesses looking to move to Carlsbad, developers, brokers, and investors. Increased awareness of tools to support businesses moving to Carlsbad Complete (ongoing) Messaging included in Economic Development in newsletter and social media Host industry advisory groups with leaders in key business clusters, with a specific emphasis on the innovation economy.  Create an ongoing series of industry roundtable discussions Complete (ongoing) Roundtable series captures all key industries Use data to identify specific mobility issues and select projects from the City’s Sustainable Mobility Plan and Parking Management Plant that will result in a higher quality of life for Carlsbad residents and workers. Propose actions from the PMP and SMP that will help address parking challenges experienced by businesses Support regional innovation showcases, like "Innovation Day" to demonstrate Carlsbad's commitment to fostering innovative firms and industries. Support innovation showcases like "Innovation Day" Proposed to Start in 2024 This activity has happened in the past but was not part of the EDSP actions Objective 3.3: Assist businesses in growing industries or sectors, such as health care, life sciences, and the innovation economy, which are looking to relocate or expand in Carlsbad. Create a form to better track BEAR projects and their impact on the city. Develop an intake form and tracking sheet Not Started Objective 3.2: Connect businesses in key sectors with data and resources they need to thrive in Carlsbad. Use business data and recent business survey to assess and engage with industry clusters to develop support for their expansion, attraction, and retention. Survey businesses biannually and use data to engage with key industries In Progress (50% complete) Business survey is live, results will be compiled to capture meaningful data on key industries Utilize partnership with Innovate 78 to connect Carlsbad businesses with regional resources. Cohesive economic development and collaboration across North County Complete (ongoing) Regional collaboration pivoting in 2024 to be more resource-driven Goal 3: Grow and support key industries by providing and creating resources for these industries to thrive in Carlsbad’s economy. Resourcing Evaluate micro-mobility and parking options in the Village and coastline to make Carlsbad more connected and accessible. Provide analysis of mobility and parking options that enhance connectivity and accessibility In Progress (75% complete) Potential collaboration with the City of Encinitas. PMP drafted Lead:I&ED Priority:High Start Year:FY25-26 Cost:$25,000 Lead:I&ED Priority:High Start Year:FY25-26Cost:$25,000 Lead:I&ED Priority:Low Start Year:FY23-24 Cost:Funded (staff time) Lead:I&ED Priority:Medium Start Year:FY25-26 Cost:Funded Lead:I&ED Create a site-selection tool to position Carlsbad for inbound investment. Develop a site-selection tool Not Started Partner with local universities and colleges to create workforce development opportunities in the hospitality, tourism, and entertainment sectors. A more robust pipeline of workers for hospitality and tourism jobs Not Started Objective 3.4: Support the needs of our residents while balancing the needs of our businesses in tourism, hospitality, and entertainment. Continue to support Carlsbad business organizations that maintain the tourism economy in Carlsbad. Support for Carlsbad's tourism sector Complete (ongoing) Regular meetings with Visit Carlsbad and hoteliers, re-establishment of the CTBID under ’94 law Update information and mapping of Carlsbad's key industry clusters and patent intensity. Updated key industry cluster and patent information Not Started March 19, 2024 Item #2 Page 18 of 20 Objective Strategic Action Deliverable Status Priority:Medium Start Year:FY25-26 Cost:$10,000 Lead:I&ED & Comms Priority:High Start Year:FY23-24 Cost:Funded (Staff time & Part of $60,000 contract with Rising Tide)Lead:I&ED & C&E Priority:Low Start Year:FY23-24 Cost:Funded (Staff time & Part of $60,000 contract with Rising Tide)Lead:I&ED Priority:High Start Year:FY24-25 Cost:Funded (Staff time & Part of $60,000 contract with Rising Tide) Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded (Staff time & Part of $60,000 contract with Rising Tide)Lead:I&ED Priority:Low Start Year:FY26-27 Cost:Funded Lead:I&ED & IT Priority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY25-26 Cost:$5,000 Lead:Comms Priority:Low Start Year:FY24-25 Cost:Funded (staff time) Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded (staff time) Lead:I&ED Priority:Medium Start Year:FY26-27 Cost:Funded Lead:I&ED & Comms Develop a separate economic development newsletter focused on business and workforce development resources. Stand-alone business focused newsletter Complete (ongoing) Update Economic Development website and Doing Business in Carlsbad website to include links to programs and regional partners and resources. Updates to business-facing web resources In Progress (20% complete) Initial mapping of business resource pages and data dashboards complete Development of a spotlight tool for digital outlets Develop a business spotlight program to highlight local businesses Complete (ongoing) Small business spotlight in newsletter and social media In Progress (20% complete) Piloting a new platform that could present an option for this type of program Create a How to do Business Guide to assist small businesses and entrepreneurs in opening a business in Carlsbad. Creation of resource guide Complete (ongoing) Available on business page of the city's website Develop and promote bulletins and flow charts for common permitting application types. Develop bulletins and flow charts Complete (ongoing) https://www.carlsbadca.gov/departme nts/community- development/departmental- information-bulletins Expand the opt-in text messaging system related to economic development and other City activities. Citywide platform available to community members Creation of videos Not Started Create a digital library of free business resources. Creation of digital library Proposed to Start in 2024 Incorporate business and economic development activities into the weekly City Manager newsletter, City calendar, and social media to foster a sense of pride in local businesses. Messaging included in appropriate outlets Complete (ongoing) 14 business related items featured in the city managers update 11 articles published, 11 newsletters distributed Objective 4.2: Enhance placemaking opportunities to strengthen the Partner with local businesses to participate in and promote the City’s volunteer program to activate public spaces and foster a sense of Increased awareness of tools to support businesses moving to Carlsbad Not Started Objective 4.1: Build upon the successes of the communication efforts in the City to promote the City’s economic development programs. Develop and promote “how to” videos for select permitting processes. Goal 4: Encourage a sense of connection in our community by building upon our successes and promoting access to economic development resources and opportunities. Resourcing Develop a communications plan specific towards economic development efforts and celebrating the business community with consistent and cohesive messaging. Updated communications plan Not Started CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 10 | March 19, 2024 Item #2 Page 19 of 20 CITY OF CARLSBAD ECONOMIC DEVELOPMENT STRATEGIC ACTIONS - YEAR 2 | 11 | DRAFT Objective Strategic Action Deliverable Status Priority:Medium Start Year:FY25-26 Cost:$10,000 Lead:I&ED & Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & Comms Priority:Low Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:High Start Year:FY24-25 Cost:Funded Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Low Start Year:FY26-27 Cost:Funded Lead:I&ED & IT Priority:High Start Year:FY23-24 Cost:Funded Lead:CD Priority:High Start Year:FY25-26 Cost:$5,000 Lead:Comms Priority:Low Start Year:FY24-25 Cost:Funded Lead:I&ED Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED Priority:Medium Start Year:FY26-27 Cost:Funded Lead:I&ED & Comms Priority:Low Start Year:FY26-27 Cost:$10,000 Lead:I&ED & Comms Priority:High Start Year:FY23-24 Cost:Funded Lead:I&ED & Comms Develop a separate economic development newsletter focused on business and workforce development resources. Stand-alone Complete (ongoing) Update Economic Development website and Doing Business in Carlsbad website to include links to programs and regional partners and resources. Updates to business-facing web resources In Progress (20% complete) Initial mapping of business resource pages and data dashboards complete Development of a spotlight tool for digital outlets Develop a business spotlight program to highlight local businesses Complete (ongoing) Small business spotlight in newsletter and social media In Progress (20% complete) Piloting a new platform that could present an option for this type of program Create a How to do Business Guide to assist small businesses and entrepreneurs in opening a business in Carlsbad. Creation of resource guide Complete (ongoing) Available on business page of the city's website Develop and promote bulletins and flow charts for common permitting application types. Develop bulletins and flow charts Complete (ongoing) Expand the opt-in text messaging system related to economic development and other City activities. Citywide platform available to community members Creation of videos Not Started Create a digital library of free business resources. Creation of digital library Not Started Incorporate business and economic development activities into the weekly City Manager newsletter, City calendar, and social media to foster a sense of pride in local businesses. Complete (ongoing) 14 business related items featured in the city managers update 11 articles published, 11 newsletters distributed Objective 4.2: Enhance placemaking opportunities to strengthen the connection between people and the places they share. Partner with local businesses to participate in and promote the City’s volunteer program to activate public spaces and foster a sense of connection. Increased awareness of tools to support businesses moving to Carlsbad Not Started Provide a digital platform for local businesses to promote their volunteer opportunities, such as beach cleanups. Citywide platform available to community members In Progress (20% complete) Piloting a new platform that could present an option for this type of program Utilize the City’s social media platforms to showcase Carlsbad’s sense of place and community. Increased engagement on social media platforms that showcase the city as a desirable destination Complete (ongoing) Leverage Life in Action and city-owned channels to enhance perception of Carlsbad Objective 4.1: Build upon the successes of the communication efforts in the City to promote the City’s economic development programs. Develop and promote “how to” videos for select permitting processes. Goal 4: Encourage a sense of connection in our community by building upon our successes and promoting access to economic development resources and opportunities. Resourcing Develop a communications plan specific towards economic development efforts and celebrating the business community with Updated communications plan Not StartedPriority:Low Start Year:FY26-27 Cost:$10,000 Lead:I&ED & Comms Priority:High Start Year:FY23-24 Cost:Funded (Staff time & Part of $60,000 contract with Rising Tide) Lead:I&ED & C&E Priority:Medium Start Year:FY24-25 Cost:Funded (staff time) Lead:I&ED & C&E Priority:Low Start Year:FY25-26 Cost:unknown Lead:Libraries Priority:Medium Start Year:FY25-26 Cost:unknown Lead:Parks & Rec Priority:High Start Year:FY23-24 Cost:Funded ($35,000 contract with CVA) Lead:I&ED Partner with local business organizations to implement placemaking strategies such as holiday lighting and a banner program to enhance the sense of place and community. Robust and well maintained banner program Complete (ongoing) Banner program effectively managed by CVA Objective 4.3: Leverage city-owned assets and right of way to create a sense of place Consider expanding the City’s social media footprint into additional platforms to target different segments of the Carlsbad population. Exploration of additional platforms to reach target audiences Continue to celebrate local artists by enhancing the City’s Public Art Collection. Enhanced public art displays Not Started Expand the City's parklet program to create additional green space and community gathering opportunities. Enhanced green space that is open and usable to the public Not Started Proposed to Start in 2024 connection between people and the places they share. Provide a digital platform for local businesses to promote their volunteer opportunities, such as beach cleanups. Citywide platform available to community members In Progress (20% complete) Piloting a new platform that could present an option for this type of program Utilize the City’s social media platforms to showcase Carlsbad’s sense of place and community. Increased engagement on social media platforms that showcase the city as a desirable destination Complete (ongoing) Leverage Life in Action and city-owned channels to enhance perception of Carlsbad March 19, 2024 Item #2 Page 20 of 20 CARLSBAD BUSINESS ORGANIZATION AND BUSINESS UPDATES Recommendation:Receive informational reports from Carlsbad business organizations, discuss and provide recommendations. It e m 1 INNOVATION & ECONOMIC DEVELOPMENT {city of Carlsbad BUSINESS ORGANIZATION UPDATES •Carlsbad Chamber of Commerce •Carlsbad Village Association •Visit Carlsbad INNOVATION & ECONOMIC DEVELOPMENT ■ ■ ■ ■ ■ ■ ,,,, ... - {city of Carlsbad ECONOMIC DEVELOPMENT STRATEGIC PLAN – FISCAL YEAR 2024-25 ECONOMIC DEVELOPMENT STRATEGIC ACTIONS Recommendation: Receive an update on the implementation of the Economic Development Strategic Plan. Discuss the proposed Economic Development Strategic Actions - fiscal year 2024-25 and make a recommendation for City Council consideration during the fiscal year 2024-25 budget process.It e m 2 INNOVATION & ECONOMIC DEVELOPMENT {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT TODAY’S PRESENTATION •Fiscal forecast •Focused update on Economic Development Strategic Plan implementation •Data in response to Councilmember questions during the presentation of the Fiscal and Economic Scan at City Council o Commercial, Retail and Office trends o Job Posting •Initial response to subcommittee request for information on: o Transportation & Mobility o North County Transit District Carlsbad Connector Pilot o Parking in the Village {city of Carlsbad 5 $3.5 M -3.8 M -$5 M $800,000 FY 25-26 FY 26-27 FY 24-25FY 23-24 JUNE 2022 FORECAST FY 22-23 $460,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $--- $ (2,000,000) $ (4,000,000) $ (6,000,000) $1.9 M $9.4 M $5.8 M 6 $8.5 M $13.2 M -$4.2 M FY 25-26 FY 26-27FY 24-25FY 23-24 FY 27-28 FY 28-29 OCT 2023 FORECAST$16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $- $ (2,000,000) $ (4,000,000) $ (6,000,000) BUDGET NEXT STEPS •Strong fiscal condition to weather economic uncertainty •FY 2024-25 budget development •City Council approval in June 2024 { City of Carlsbad ECONOMIC DEVELOPMENT STRATEGIC PLAN •Supports Strategic Plan Goal -Economic Vitality •Four Key Goals: o Support Small Businesses, Startups & Entrepreneurs o Develop Workforce and Attract Talent o Grow and Support Key Industries o Encourage Placemaking and Engagement INNOVATION & ECONOMIC DEVELOPMENT C CityOf Carlsbad {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT EDSP Program Dashboard •17 current economic development programs underway •Projects span the 4 key pillars for the Economic Development Strategic Plan Number of projects by Status 20 15 10 5 0 Total# of projects (all time) 17 • Not Started In Progress • Complete Total # of active projects 16 # of Projects by Schedule Health 15 10 5 0 I I I I . I Total Projects At Risk 3 • • • Green Yellow • Red Shortcut Projects At Ri sk INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •Hosting Carlsbad industry roundtables for o Tech o Life Sciences o Cleantech o Sports and Active Lifestyle •Each industry will be convened three times per year EDSP Program Updates Industry Roundtables DASHBOARD Project Information 64% Percent Complete In Progress Status 08/01/23 Start Date 06/28/24 End Date Tasks by Status 4 V Not Started In Progress • Complete • Canceled {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •Completed 7 small business visits in Carlsbad Village •Heard from small business owners and Carlsbad Village Association on opportunities and challenges in the Village •Small Business Liaison is in the plan for FY 2025- 2026 •Upcoming visits to Vuori, Argonaut Manufacturing, HME, and MiraCosta TCI •Co-hosted life sciences roundtable EDSP Program Updates Company Tours DASHBOARD Project Information 65% Percent Complete In Progress Status Start Date End Date 4 Tasks by Status V Not Started In Progress • Complete • Canceled {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •Partnered with SBDC for a “Concept to Creation” series in March •37 small businesses signed up for the 4-week series •Assists small businesses and entrepreneurs to go from ideation to execution EDSP Program Updates Library Business Workshops DASHBOARD Project Information 97% Percent Complete In Progress Status 08/15/23 Start Date 04/01/24 End Date Tasks by Status 5 V Not Started In Progress • Complete {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •Hosted the second cybersecurity awareness program in conjunction with CCOE and the Carlsbad Chamber •The program promotes business and economic resiliency by helping Carlsbad small businesses be better prepared and aware of threats online •More than 60 businesses have participated in the program so far EDSP Program Updates Cybersecurity Awareness Training DASHBOARD Project Information 59% Percent Complete In Progress Status 08/15/23 Start Date 10/02/24 End Date Tasks by Status 8 V Not Started In Progress • Complete {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •The collaboration focuses on mutual support and shared economic benefit for North County businesses •Completed pivot to a more direct-service model through a partnership with Connect and San Diego North EDC •As part of this, Connect is looking to host its annual summer social and “Cool Companies” program in Carlsbad EDSP Program Updates lnnovate78 DASHBOARD Project Information 83% Percent Complete In Progress Status 07/01/23 Start Date 06/27/24 End Date Tasks by Status 2 3 V Not Started In Progress • Complete {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •More than 400 individuals submitted information to be connected with Carlsbad employers •New site features ensure easy and secure usability by Carlsbad businesses. •Currently moving forward with launching a more user and business friendly site EDSP Program Updates Life in Action Recruiter DASHBOARD Project Information 46% Percent Complete In Progress Status 07/01/23 Start Date 01/05/24 End Date Tasks by Status 10 V Not Started In Progress • Complete • On Hold INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •In conjunction with SDNEDC and CSU San Marcos, created a program to utilize vacant student housing during summer months for summer intern housing •Available to any North County employer •Reduces the barrier to sourcing interns by providing lower-cost housing accommodations •Several enrichment programs will take place to ensure interns are engaged in North County EDSP Program Updates California State 1University SAN MARCOS {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •All ‘89 Act funds are projected to be expended and services rendered by March 31 •The CTBID advisory board will consider a recommendation to disestablish the old district at their April 10 meeting •If participating CGLBID properties utilize remaining funds on qualifying expenses ahead of the April 10 meeting, that advisory board will similarly consider a recommendation to disestablish. EDSP Program Updates CTBID Conversion Tracking DASHBOARD Project Information 97°/o Percent Complete In Progress Status 05/01/22 Start Date 06/30/28 End Date Tasks by Status 2 6 V Not Started In Progress • Complete {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Summary of Activity •Building a new dashboard to display economic metrics and data as it becomes available •Updating data to include comparable analysis of North County and San Diego Region •Q2 economic scan presented to the City Council in February EDSP Program Updates Ei2 DASHBOARD Project Information 60% Percent Complete In Progress Status 01/04/23 Start Date 08/14/24 End Date Tasks by Status 17 V Not Started In Progress • Complete {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT EDSP Program Updates Commercial Real Estate Comparison •Responding to a question from the City Council, staff updated commercial real estate charts to vacancy levels in comparison to the surrounding North County and San Diego County regions 1,200,000 1,000,000 800,000 600,000 400,000 200,000 {200,000) {400,000) {600,000) {800,000) {1,000,000) 2019 Office Net Absorption 2020 2021 2022 -SanDiegoCounty -NorthCountv -cartsbad Industrial + Flex Net Absorption 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 {1,000,000) {2,000,000) 2023 2019 2020 2021 2022 --san Diego County --North County --carlsbad 800,000 600,000 400,000 200,000 {200,000) {400,000) {600,000) (800,000) {1,000,000) 2023 Retail Net Absorption m m m m m m m m m m ru m m m m m m m m m 2019 2020 2021 2022 2023 -SanOiegoCounty -NorthCounty -cartsbad {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT EDSP Program Updates 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 [200,000) [400,000) [600,000) (800,000) [1,000,000) 2019 Office Net Absorption 2020 2021 -San Diego Co unty -North County -Carlsbad 202.2. 2.023 {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT EDSP Program Updates 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 [1,000,000) [2,000,000) 2019 lndustria I + Flex Net Absorption 2020 2021 2022 -san Die-go County -North County -carlsl:Jad 2023 {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT EDSP Program Updates 800,000 600,000 400,000 200,000 0 [200,000) [400,000) [600,000) [800,000) [1,000,000) Reta ii Net Absorptio11 m Q2 m 04 01 02 Q3 o 2.019 202.0 2021 2022 -San Diego County -Nortlh County -Carlsbad 2023 {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Job Posting Comparison •Responding to a question from the City Council, staff updated job posting charts to show data in comparison to the surrounding North County and San Diego County regions. •Carlsbad employers have generally been consistent with job posting trends at the regional and sub-regional level. •According to the San Diego Regional EDC, job postings region-wide have been falling but are coming back to pre- pandemic “normal” levels. The job postings over the past few years were seen as greatly elevated. EDSP Program Updates Job Posting Comparison 50% 40% 30% 20% 10% 0% -10% -20% -30% -40% -50% Ql Q2 Ql Q4 Ql Q2 Ql Q4 Q1 Q2 Q3 Q4 Ql 2019 2020 2021 -s.an Diego County -Nonh County -Car1sbad Q2 Ql Q4 Ql 2022 Q2 Ql 2023 Q4 {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT EDSP Program Updates 50% 40% 30% 20% 10% 0% -10% -20% -30% -40% -50% 01 02 03 04 01 02 2019 Job Posting Comparison Q3 Q4 Q1 Q2 Q3 Q4 01 02 2020 2021 2022 -san Diego County -North County -Carlsbad 03 04 01 02 Q3 2023 Q4 {city of Carlsbad INNOVATION & ECONOMIC DEVELOPMENT Dashboard of Economic Indicators •A live dashboard for the City Council, staff, and the public to see and understand trends •Will be updated automatically as new data is released •Will go live on March 21 EDSP Program Updates City of Carlsbad Economic Development Dashboard Economic Overview Talent & Workforce Demographics 11 Commercial Real Estate 11 Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Carlsbad's economy is characterized by its robustness and diversity, supported by a range of industries and favorable economic indicators. The city's Gross Domestic Product (GDP) shows steady growth, driven by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospitality and tourism. With a healthy employment rate and a skilled workforce, Carlsbad maintains its economic prosperity. The city's median household income surpasses the national average, reflecting its high quality of life. Carlsbad's business landscape is diverse, with a wide range of industries contributing to its economic stability and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different ta bs across the top allow for a deeper dive into workforce dynamics, detailed industry information, and development trends. Gross Regional Product (GRP) $17.1B 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses m Carlsbad 6,667 2023 Total Workforce 91 ,697 Jobs 0 4, 2023 lndustnal Net Absorption SF Total 97 ,849 0 4, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard 0 Talent & Workforce Demographics J l .... ___ co_m_m_e_rc_ia_l_Re_a_l _Est_a_te __ __,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a skilled workforce, Ca rlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic sta bility and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across t he top allow for a deeper d ive into workforce dyna mics, detailed industry information, and develo pment trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 Total Workforce 91,697 Jobs 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 Job Postings -Unique 7,752 04, 2023 Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard 0 Talent & Workforce Demographics J l .... ___ co_m_m_e_rc_ia_l_Re_a_l _Est_a_te __ __,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a skilled workforce, Ca rlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic sta bility and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across t he top allow for a deeper d ive into workforce dyna mics, detailed industry information, and develo pment trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 Total Workforce 91,697 Jobs 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 Job Postings -Unique 7,752 04, 2023 Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard 0 Talent & Workforce Demographics Commercial Real Estate Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a sk illed workforce, Carlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic stability and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across the top allow for a deeper d ive into workforce dyna mics, detailed industry information, and development trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 Total Workforce 91,697 Jobs 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 Job Postings -Unique 7,752 04, 2023 Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard 0 Talent & Workforce Demographics J l .... ___ co_m_m_e_rc_ia_l_Re_a_l _Est_a_te __ __,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a skilled workforce, Ca rlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic sta bility and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across t he top allow for a deeper d ive into workforce dyna mics, detailed industry information, and develo pment trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 Total Workforce 91,697 Jobs 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 Job Postings -Unique 7,752 04, 2023 Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad {city of Carlsbad City of Carlsbad Economic Development Dashboard 0 Economic Overview Talent & Workforce Demographics J l .... ___ co_m_m_e_rc_ia_l_Re_a_l _Est_a_te __ __,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot ----------------------- Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a skilled workforce, Ca rlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic sta bility and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across t he top allow for a deeper d ive into workforce dyna mics, detailed industry information, and develo pment trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 Total Workforce 91,697 Jobs 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 Job Postings -Unique 7,752 04, 2023 Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad {city of Carlsbad City of Carlsbad Economic Development Dashboard 0 Economic Overview _T_a_le_nt_&_w_o_r_kf_o_rc_e _D_em_o_g_ra_p_hi_cs___, .,__ __ co_m_m_e_rc_ia_l_Re_a_l _Est_a_te __ __,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot ----------------------- Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a sk illed workforce, Ca rlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic stability and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across the top allow for a deeper d ive into workforce dyna mics, detailed industry information, and development trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 Total Workforce 91,697 Jobs 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 Job Postings -Unique 7,752 04, 2023 Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard 0 Talent & Workforce Demographics J l .... ___ co_m_m_e_rc_ia_l_Re_a_l _Est_a_te __ __,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a skilled workforce, Ca rlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic sta bility and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across t he top allow for a deeper d ive into workforce dyna mics, detailed industry information, and develo pment trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 04, 2023 Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard 0 Talent & Workforce Demographics J l .... ___ co_m_m_e_rc_ia_l_Re_a_l _Est_a_te __ __,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Ca rlsbad 's economy is characterized by its ro bustness and diversity, supported by a range of industries and favo rable economic indicators. The city's Gross Domestic Product (G DP) shows steady growth, d rive n by key sectors such as life sciences, technology, sports innovation and design, cleantech, and hospita lity and tourism. With a hea lthy employment rate and a skilled workforce, Ca rlsbad mainta ins its economic prosperity. The city 's median household income surpasses the na tional ave rage, re fl ecting its high quality of life. Carlsbad's business la ndscape is diverse, with a wide range of industries contrib uting to its economic sta b ility and resilience. This economic dashboard shows key indicators and trends to give readers a better understanding of the city's economic makeup and track record. The indicators shown below provide a high level overview of Carlsbad's economy. The different tabs across t he top allow for a deeper d ive into workforce dyna mics, detailed industry information, and develo pment trends. Gross Regional Product (GRP) $17 .18 04, 2023 Median Household Income $146,596 04, 2023 Unemployment Rate 4.2% 04, 2023 Mean Travel Time 28.5 Minutes 2022 Medium Home Value $1.45M 04, 2023 Total Businesses in Carlsbad 6,667 2023 Total Workforce 91,697 Jobs 04, 2023 Industrial Net Absorption SF Total 97,849 04, 2023 The numbet of distinct job advertisements availla bte in a certain area. See Trend Leasing Rate (NNN Rent Overall) 19.49 04, 2023 {city of Carlsbad (city of Carlsbad City of Carlsbad Economic Development Dashboard Economic Overview I Talent & Workforce Demographics J l._ __ eo_m_m_er_ci_al_R_ea_l _Est_a_te __ _,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Carlsbad's economy is characterized by its robustness and diversily, supported by a range of industries and favorable economic indicators. The city's Gross Domestic Producl (GDP) shows steady growlh, driven by key sectors such as life sciences, lechnology, sports innovation and design, cleantech, and hospitality and tourism. With a hea household diverse, wil This econo makeup an tabs across trends. C The number of distinct job advertisements avallable i n a certa ~n area. See Trend , I intains its economic prosperity. The city's median uality of life. Carlsbad's business landscape is tability and resilience. de, s a better understanding of the city's economic h level overview of Carlsbad's economy. The different detailed induslry information, and development Total Worlcforco 91,697 Jobs 04, 2023 The number of distinct job advertisements available rn a certain area. See Trend Median Household Income Mean Travel limo Total Businesses in Carlsbad Industrial Not Absorption SF Total Leasing Rate (NNN Rent Overall) $146,596 04, 2023 28.5 Minutes 2022 6,667 2023 97,849 19.49 04, 2023 04, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard I Talent & Workforce Demographics J l._ __ eo_m_m_er_ci_al_R_ea_l _Est_a_te __ _,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Carlsbad's economy is characterized by its robustness and diversily, supported by a range of industries and favorable economic indicators. The city's Gross Domestic Producl (GDP) shows steady growlh, driven by key sectors such as life sciences, lechnology, sports innovation and design, cleantech, and hospitality and tourism. With a hea household diverse, wil This econo makeup ar tabs across trends. C Median Household Income $146,596 04, 2023 Mean Travel limo 28.5 Minutes 2022 intains its economic prosperity. The city's median uality of life. Carlsbad's business landscape is de, s a better understanding of the city's economic h level overview of Carlsbad's economy. The different detailed induslry information, and development Total Worlcforco 91,697 Jobs 04, 2023 The number of distinct job advertisements available rn a certain area. See Trend Total Businesses in Carlsbad Industrial Not Absorption SF Total Leasing Rate (NNN Rent Overall) 6,667 97,849 19.49 2023 04, 2023 04, 2023 {city of Carlsbad {city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard I Talent & Workforce Demographics J l ... ___ eo_m_m_e_rc_ia_l _Re_a_l _Est_a_t_e __ _,J I Business Activity & Industry Clusters Economic Overview -Key Indicators Snapshot Ca Job Postings -Unique X ec ----------------------------------------------------. sci 40% Wi ho 3[}% ., di "' C: ~ ., 20% 0 a. .c 0 Thi1 --, -0 ~ 1% .. .c rnc E :, tat z .. "' ~ 0% tre .. > < E e -.. -1 % u C: ~ .. :i: 0 -20% ~ C: .. u ~ & -3[}% -4[}% 2019Q1 2019Q3 2020Q1. ·$• View on T 8blesu Pl.lblic 0 , L 2 2020Q3 2021Ql 2D21 Q3 2022Ql 2 22Q3 2 22 2023 2 23Ql 04, 2023 2023 Q3 2 2£. Q_ ■ :crl~D2r: ■ c--: Co~ ■ S2 Diego CoJ :y (Lig:r,c~st. 202<!.) . ,. Q • pJ ~ Share 04,2 L {city of Carlsbad (city of Carlsbad Economic Overview City of Carlsbad Economic Development Dashboard 0 Talent & Workforce Demographic Commercial Real Estate Commercial rea l estate in Carlsbad, Ca lifornia, reflects a dynamic and d iverse market. The city boasts a strategic location, excellent infrastructure, and a robust economy, making it an attractive destination for businesses. Carlsbad offers a range of commercial rea l estate options, incl uding office spaces, retail properties, industrial fac ilit ies, and mixed-use developments. The city's commercial real estate market has seen steady growth over the years, with a hea lthy demand for space from various industries such as technology, and life sc iences. The availability of sk ill ed labor, a supportive business environment, and proximity to major t ransportation hubs further en hance Carlsbad 's appeal to businesses looking to establish or expand t heir presence. r:11 Industrial Vacancy Rate 7.3% 0 4,2023 Leasing Rate (NNN Rent Overall) 19.49 0 4, 2023 Rent per SF $22.32 0 4, 2023 SF Leasing Activity 301,330 0 4, 2023 Net Absorption SF Total Total Available Space Inventory SF 97,849 11.61 % 15.9M 0 4, 2023 0 4,2023 0 4, 2023 Occupancy 92.7% 0 4, 2024 {city of Carlsbad (city of Carlsbad City of Carlsbad Economic Development Dashboard JI Talent & Workforce Demographics -----------Economic Overview Commercial Real Estate Business Activity & Industry Clusters Commercial Real Estate 0 Commercial rea l estate in Carlsbad, California, reflects a dynamic and d iverse market. The city boasts a strategic location, excell ent infrastructure, and a robust economy, making it an attractive destination for businesses. Carl sbad offers a range of commercial rea l estate options, including office spaces, retail properties, industrial fac ilit ies, and mixed-use developments. The city's commercia,1 rea l estate market has seen steady g rowth over the years, with a hea lthy demand for space from various industries such as technology, and life sc iences. The availability of sk ill ed labor, a supportive business environment, and p roximity to major transportation hubs further enhance Carlsbad 's appeal t o businesses looking to establish or expand their presence. r.11 Industrial Measure the proportion of unoccupied rental properties, offering an indication of the supply and demand balance in the real estate market. See Trend Leasing Rate (NNN Rent Overall) 19.49 04, 20 23 Rent per SF $22.32 04,2023 SF Leasing Activity 301,330 04, 2023 Net Absorption SF Total Total Available Space Inventory SF 97,849 11.61 % 15.9M 04, 2023 04,2023 04,2023 Occupancy 92.7% 04, 2024 {city of Carlsbad (city of Carlsbad City of Carlsbad Economic Development Dashboard Economic Overview Commercial Real Estate Business Activity & Industry Clusters 11 Talent & Workforce Demographics ------------- Commercial Real Estate Co Vacancy Rate X loca------------------------------------------------. Carl facil The frorr bus1 bus1 I I 12.00% 10.00% X _el LL 8.00% + ""iii L ~ ~ :, "O C "' 6.00% 1;j <Y ~ C: "' u "' > 4.00% 2.00% 0.00% 201901 201903 ·!f!· View on Tableau Public ■ Carlsbad San Diego County ■ Nort County Avg w/o Carlsbad 2020 01 2020 03 2021 01 2021 03 2022 01 2022 03 202301 2023 03 2024 01 (CoStar Group, www.costar.com, 2024) SJ ... ~□~ ~ Share a ,2 2 a ,2 2 {city of Carlsbad NEW DISCUSSION •Last subcommittee staff received direction to return with additional information regarding: o Transportation & Mobility o North County Transit District Carlsbad Connector Pilot o Parking in the Village INNOVATION & ECONOMIC DEVELOPMENT FISCAL YEAR 2024-25 (_City of Carlsbad (city of Carlsbad Mobility •General Plan Mobility Element (2025) •Sustainable Mobility Plan (2021) •Keep the City of Carlsbad moving with livable streets that provide a safe, balanced, cost-effective, multimodal transportation system (vehicles, pedestrians, bikes, transit) accommodating the mobility needs of all community members, including children, the elderly, and the disabled. (3-G.1) •Improve connectivity for residents, visitors, and businesses (3-G.2) •Manage parking to support all modes of transportation and ensure efficient use of land. (3-G.4) INNOVATION & ECONOMIC DEVELOPMENT The Mobilicy Elemen, seeks co enhance ••hide «'a/king, bicycling, and Public transPortation ' syscems ope ions « ,,thin Carlsbad, and •mPro, e mob,Jny through increased connecr,.,,tYand inte/1,gent lransPortacion managemenc, Increasing transPortacion opcions and imPro,,ing connea,.,icy «'ichm ch, c,cy are core <'a/z,,5 of che Carlsbad Commun;cy \/2sion and also s11pPor, ocher core t rilues of che t 'is,on, including s11stainabilicy, access co recreacion and ac,,,,, healthy hfescy/es, and neighborhoo,1 rctitalitation. Carlsbad Connector (2019-20) •Microtransit Pilot at Carlsbad Poinsettia Station •First microtransit pilot program in San Diego county: Partnership with SANDAG, NCTD and City of Carlsbad •Extend the reach of the COASTER for commuters traveling between Poinsettia Station and Palomar Airport Road Business park •Achieved approximately 100 trips per day •Discontinued due to the COVID-19 Pandemic INNOVATION & ECONOMIC DEVELOPMENT North County Microtransit •Oceanside gO’side Shuttle •Serves downtown Oceanside and surrounding neighborhoods •One year pilot program •Partnership between Oceanside, Visit Oceanside and SANDAG •Operates 7 days a week during May – Nov. / 5 days Off Season •Averages 220 – 85 passengers per day •Encinitas Microtransit Planning Study •Vista NCTD+ Microtransit Pilot (~2025) INNOVATION & ECONOMIC DEVELOPMENT Legend gO'side Shuttle A Service Area SPRINTER COASTER/Amtrak N Ci) Station Map Not to Scale Village & Barrio Parking Study •Internal staff reviewing the most recent study data •Will agenize it for subcommittee at a future date INNOVATION & ECONOMIC DEVELOPMENT FISCAL YEAR 2024-25 (_City of Carlsbad NEW ACTION BASED ON SUBCOMMITTEE FEEDBACK GOAL 3.1:GROW AND SUPPORT KEY INDUSTRIES Objective: Evaluate opportunities to improve mobility for visitors, residents, and the workforce: INNOVATION & ECONOMIC DEVELOPMENT Action: Use data to identify specific mobility issues and select projects from the City’s Sustainable Mobility Plan and Parking Management Plan that will result in a higher quality of life for Carlsbad residents and workers. Deliverable: Propose actions from the PMP and SMP that will help address parking challenges experienced by businesses. Provide direction to staff to coordinate engagement with businesses if there is service level support. Implementation: Commences in fiscal year 2025-26 {city of Carlsbad NEW ACTION BASED ON SUBCOMMITTEE FEEDBACK INNOVATION & ECONOMIC DEVELOPMENT Action: Deliverable: Implementation: Commences in fiscal year 2024-25 {city of Carlsbad FY 2024-2025 STRATEGIC ACTIONS •Total actions proposed: 39 •Continuing actions: 22 •New actions: 17 INNOVATION & ECONOMIC DEVELOPMENT FISCAL YEAR 2024-25 (_City of Carlsbad BUDGET CONSIDERATIONS FY 2024-25 recommendation includes 39 total actions. $75,000 less than FY 2023-24 recommendation utilizing ongoing funding of $110,000 in FY 2024-2025. Action plan implementation is contingent on a service level consistent with fiscal year 2023- 2024. Subcommittee recommendation on the action plan will be presented to City Council. INNOVATION & ECONOMIC DEVELOPMENT {city of Carlsbad ECONOMIC DEVELOPMENT STRATEGIC PLAN – FISCAL YEAR 2024-25 ECONOMIC DEVELOPMENT STRATEGIC ACTIONS Recommendation: Receive an update on the implementation of the Economic Development Strategic Plan. Discuss the proposed Economic Development Strategic Actions - fiscal year 2024-25 and make a recommendation for City Council consideration during the fiscal year 2024-25 budget process.It e m 2 INNOVATION & ECONOMIC DEVELOPMENT {city of Carlsbad