The Need
As an economic engine, the Sacramento region has done pretty well over the past decade.
We gain regular mention as a “boomtown” and a top-20 area for economic performance, big business, job growth and entrepreneurism.
But despite our successes, our economic advantages are narrowing. We rely heavily on two industry sectors, government and construction. The cost of doing business is rising. More competitors band together to compete as regions.
Meanwhile, traffic, air pollution and other growth impacts erode our quality of life at the same time it grows increasingly important to help attract and retain companies, executives and the best and brightest executives, employees and entrepreneurs.
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A Collaborative Planning Effort
That's why the the Sacramento Area Commerce & Trade Organization (SACTO), the Sacramento Metro Chamber and Valley Vision launched the Partnership for Prosperity – an effort to build a 3-5 year collaborative economic development strategy for the six-county Sacramento region.
Our rationale? By working together on a common vision, we have the best chance to influence market forces. Instead of relying on a de facto economic development strategy, achieving sustained economic growth and job creation now requires us to take deliberate steps at a regional scale – executed locally – to create the conditions for economic prosperity.
A uniquely broad group of 34 regional economic development stakeholders agreed with this approach and joined the Partnership – including business, labor, banks, utilities, universities, ethnic business and more. They worked for more a year to forge a cooperative regional business plan targeting El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties.
Each partnering organization has committed to incorporate the five strategies in the Business Plan for the Sacramento Region in its own daily work. Several action teams of community, business and elected leaders also meet regularly to identify and carry out tasks that will advance the plan from a set of goals to reality.
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