Economic
Development Cathedral City
Roadmap
STRATEGIC PLANNING SESSION - JANUARY 2025
ABOUT Cathedral City's business-friendly environment helps companies of various sizes and industries to ECON start-up, grow, thrive, and succeed. The City fosters real partnerships and collaborations with local businesses in order to contribute to their continued success, as integral members of the Cathedral City DEV community.
Many visitors and residents are drawn to Cathedral City for its climate, desert beauty, and family- oriented atmosphere. The City of Cathedral City created the Economic Development Team to provide specialized services to the business community.
With a proven track record of fostering innovation and supporting business growth, Cathedral City stands out as the premier destination for companies looking to succeed in a vibrant and collaborative community.
THE FIVE STRATEGIC PILARS
Cathedral City Economic Development has created a draft Roadmap as the entire department has been revamped and restructured to be part of Community and Economic Development. As part of the restructuring, staff has developed the following roadmap that leads the city towards the development and adoption of a Comprehensive Economic Development Strategy. • Economic Development will work over the next year to refine its 5 Strategic pillars to foster growth, resilience, and inclusivity.
• Together they address key priorities such as supporting businesses, empowering the workforce, enhancing viability, promoting sustainable practices, and positioning Cathedral City to be a premier destination. • This document serves as a foundation for our efforts to develop an adoptable Comprehensive Economic Development Strategy (CEDS).
Business
Workforce Entrepreneurship Housing &
Attraction, 3 Quality of Life Regional
1 2 Development Support 4 5
Retention, &
Collaboration
Expansion
ECONOMIC DEVELOPMENT ROADMAP 1
Cathedral City
BUSINESS GROWTH &
RETENTION
Cathedral City is committed to creating a vibrant and dynamic business environment by attracting new investments and 917 supporting existing businesses. Through streamlined processes, targeted incentives, and dedicated resources for businesses, we Million in Retail aim to foster sustainable economic growth. By prioritizing Sales (2023) business retention, we ensure long-term stability and prosperity Cathedral City has dropped from 3rd most taxable retails sales in the Coachella
for the local economy. Valley to 5th most per Capita.
Streamlined Targeted Business
Processes Incentives Support 6
• Simplify The Processes by • Identify ways to support • Ensuring we have adequate creating online digital videos to business sectors (i.e. investments that compete explain online processes. Automotive, Hospitality, Retail, with neighboring communities • Create tailored roadmaps for Industrial, etc.) such as Indio's investment in • Evaluate the ROl for current
each permit/review process (i.e. their Auto Mall.
Business License Process, investments such as existing • Stakeholder engagement is Cannabis, Development, Housing, contracts with GCVCC and needed to hear from industry Commercial, Industrial, etc.) CVEP to better serve the
leaders.
business community.
WORKFORCE
DEVELOPMENT
A skilled and adaptable workforce is essential for economic Median Earnings by Educational Attainment success. Economic Development will analyze existing and 47O0H
potential partners to provide training programs, career pathways. $53,114
CATHEDRAL CITY $39,458
and highlight employment opportunities. These efforts empower $32,052 $30,676
residents with the tools they need to thrive in an evolving job • Graduate or Professional Degree • Bachelor's Degree • Some College or Associate's Degree market while meeting the demands of existing and future local mon senoo Graduate
employers.
Data from CVEP shows that the higher education equivalates to higher income. Current driving patters show that almost 80% of our workforce is commuting to neighboring cities.
Skills Training Local Career
Programs Employment Pathways
• Collaborate with COD on • Commuting trends show that • Identify ways to support various ensuring continued the majority of the workforce in populations and their respective collaborative efforts with their Cathedral City comes form careers.
Roadrunner Campus. other areas in region with less • As new industries emerge in the • Entertain collaborative efforts than 10% living and working in Logistics and Manufacturing with NPO's such as OneFuture Cathedral City. realm, we must equip our and Center for Employment • Work with regional partners to residents and students with Training (CET) to help with ensure there are efforts skills necessary to grow within youth entering the workforce. dedicated for Cathedral City. those industries.
ECONOMIC DEVELOPMENT ROADMAP 2
Cathedral City
ENTREPRENEURSHIP
SUPPORT
Economic Development will use agency relationships to help WORKFORCE support entrepreneurs. Through the CEDS process, Economic COMMUTING PATTERNS Development will work with residents, business owners, and DHS
stakeholders to bring forward actionable items that City Council can potentially adopt or support.
15.0% Percent of
residents wilk
work In Cy
City
20:370
Palm
Polit
Collaboration with local, state, and
federal agencies that support local
Collaboration with entrepreneurs such as SBA, SBDC.
Agencies CVEP, CET, CVWBC, and RIVCO Poste
Mirage Indio
14.6% 10.373
Staff will analyze the return of
Contribution investment for its fiscal contributions
WOlE Coachella
ROI with agencies that support 12.6%
entrepreneurs. Quinta
IZUK
Supportive Part of the analysis of the City's • Data from CVEP shows that only 9.8% of the residents live and investments will consist of re-allocating work in Cathedral City with 20.1% commuting to Palm Springs Incentives
certain contributions to create for their employment.
supportive programs for new • Cathedral City has the 3rd to lowest percentage of people who businesses such as grant opportunities. live and work in the City where they reside.
HOUSING &
QUALITY OF LIFE
Creating a vibrant and inclusive community is at the heart of Cathedral City's POPULATION economic development strategy. Through affordable housing, cultural GROWTH enrichment, and active community engagement, we enhance the city's livability and appeal. These initiatives ensure that all residents share in the benefits of a ГО НОТ КЛЯНС
CONCHELLA
thriving local economy.
Itas
INDIAN WELLS
CATHEDRAL CITY
BALM SPRINGS 38%
Affordable & Cultural &
Community 2010l 40% son.
Recreational
Workforce Input Source Eni Besiress Anage, US Comics
Housing Assets
• Cathedral City has the 2nd
lowest population growth
percentage (7%) in comparison to
other Coachella Valley cities.
• The Median Age for Cathedral
• 80%+ of our residents • Work with businesses to City is 42.9 years of age. • Fostering public
commute to neighboring highlight current cultural • Over the last 20 years (2004-2024) engagement in planning and Cathedral City saw an increase of cities for work. decision making processes of assets during important 3,380 residents.
• Cathedral City's labor ED efforts such as the celebratory months. workforce is an estimated Chuperosa Lane art walk • Mapping out our cultural assets • Cathedral City is now the 3rd 28,000. can bet used as a fun way to most populated city in the project.
• Median Household income is • Creating an inclusive allow visitors to explore the city Coachella Valley with an business ecosystem to allow estimated 51,968 residents. $65,462 with the average and learn about its culture.
single family home price of for transparent • Hispanic Population in $561,012 in the 3rd quarter of communication from Cathedral City is 31,971 or 61.5%. 2024. residents and stakeholders.
ECONOMIC DEVELOPMENT ROADMAP
3 Cathedral City
TOURISM & -O:
REGIONAL COLLABORATION
Cathedral City's rich culture, events, and attractions
make it a premier destination for visitors and a vital TAXABLE player in the regional economy. By promoting tourism, RETAIL SALES developing events, and collaborating with neighboring
communities, we maximize economic opportunities. Taxable Retail Sales (Millions) These efforts position Cathedral City as a hub for | $1,209 | $1,731
growth and innovation in the Coachella Valley.
$617
PALM SPING
$1,269
INDIO $536
51,266
Destination Marketing
$372
LA QUINTA
| 3928
• We will work in collaboration with Ryan Hunt and the
Communications/Events team to utilize data collected CATHEDRAL CITY | $762 from the Visit Greater Palm Springs Downtown
Destination survey being conducted by Downs & St. RANCHO MIRAGH Germain Research. $466
COACHELLA | $156
| $366
Event Participation • $64
DESERT HOT SPRINGS
$185
• Large scale events such as the Mary Nutter Collegiate INDIAN WELLS $57 Classic bring in over 30,000 visitors. The inclusion of • $56 local restaurants, and hospitality businesses can help
boost tax revenues for the city.
$500 $1,000 $1,500
Regional Partnerships • 2002 • 2023
• Total Taxable Retail Sales in the Coachella Valley rose 86.4% in just 8 years from 1994 to • Leveraging our relationship with Visit Greater Palm 2002. The next 21 years (2002-2023) witnessed a 74.3% rise.
Springs and other regional agencies /NO's is critical. • In 2023. Cathedral City fell behind Palm Springs, Indio, and La Quinta in city rank for These agencies have more resources and were taxable retail sales. designed to assist the region as a whole with efforts • The Economic Development team will analyze ways to create exposure for local such as tourism. businesses during large events such as the Hot Air Balloon Festival and the Mary Nutter
ROADMAP &
IMPLEMENTATION
This roadmap outlines some of the key components needed to create a Comprehensive Economic Development Strategy (CEDS) for Cathedral City. It provides framework for assessing the city's economic landscape, setting actionable goals, and implementing initiatives that drive sustainable growth.
Step 2: Draft an RFI or Step 3: Identify funding Step 4: Bring forward RFP for consultant to and Apply for Grants for adoptable action items create a CEDS. CEDS.
for City Council input.
2 Step 5: Adopt and
Step 1: Obtain feedback Implement CEDS goals
from residents, and objectives.
stakeholders. and
business owners to help
create a preliminary
Economic Development
Assessment.
ECONOMIC DEVELOPMENT ROADMAP 4
Cathedral City