What does Economic Development mean for Foster City? The textbook definition of economic development is “any policy, program, initiative or activity that strives to improve the economic well-being and quality of life for a community by creating jobs and retaining jobs.” To Foster City, economic development means so much more. It means supporting our vibrant business community, keeping jobs local and encouraging people to play, work, and live in a town we all love.
Created by the Economic Development Ad Hoc Subcommittee and approved by City Council on September 19, 2016, the Economic Development Strategic Plan is the first two years of programs and initiatives supporting long-term economic development in Foster City. The Plan addresses everything from workforce housing to traffic to ways in which businesses can market to each other! Directing the plan are several guiding principles. They include:
- Maintain positive, ongoing relationships with the business community and economic development stakeholders;
- Create and sustain a safe, clean, green, and fiscally sound business environment that benefits all those that live, work and play in this City;
- Support the health and growth of businesses, especially in the areas of business intelligence and training, workforce development, workforce housing, and access to capital;
- Continue to invest in public infrastructure that commercial and residential property owners need to thrive; and
- Improve Foster City’s transportation network to address traffic congestion for commuters and residents.
I’m very excited for the next two years of economic development programs and initiatives that will enhance and support not only our business community, but all residents.
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