From: David Cutaia
To: David Cutaia
Subject: FW: SBSC Chamber Proposed Implementation Strategy for City of Goleta Economic Development Strategic Plan Date: Wednesday, June 11, 2025 11:05:46 AM
From: Dustin Hoiseth <[email protected]>
Sent: Tuesday, June 10, 2025 3:48 PM
To: Luz Reyes-Martin <[email protected]>; James Kyriaco <[email protected]> Cc: Robert Nisbet <[email protected]>; Shannon Kirn <[email protected]>; Kristen Miller <[email protected]>
Subject: SBSC Chamber Proposed Implementation Strategy for City of Goleta Economic Development Strategic Plan
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Hello Councilmember Kyriaco and Councilmember Reyes-Martin,
I hope you are both doing well in these turbulent times (including CC'ed staff).
With the June 17 budget adoption hearing right around the corner, I am reaching out to you both in your capacity as members of the Economic Development & Revitalization Committee.
At previous meetings there has been some discussion about the economic development budget for FY 25-26, and what portion would be allocated to childcare vs. implementation of the Economic Development Strategic Plan. At previous meetings the Chamber, and other members of the Core Planning Team that helped shape the plan, advocated on behalf of the plan's various imperatives and strategies - and their importance to the City. While we support the City's investment in childcare and appreciate previous investments in economic development, we believe that the current $100,000 investment in economic development plan implementation (out of the $400,000 total) is insufficient to support the plan's strategies.
Our ask is that you consider increasing the investment in the economic development plan implementation to $250,000 in FY 25-26. As part of that ask, and to provide context, the Chamber has provided a potential outline for how funds could potentially be utilized in FY 25- 26 (please see attached).
Thank you for your support of economic development in the City of Goleta. Please let us know if you have any questions.
Sincerely,
DUSTIN HOISETH | Director of Public Policy
SANTA BARBARA SOUTH COAST CHAMBER OF COMMERCE
(805) 729-5525 | [email protected]
Santa Barbara South Coast Chamber of Commerce
Proposed Implementation Strategy for City of Goleta Economic Development Strategic Plan FY 25-26
Background
On June 27, 2023, the Goleta City Council unanimously adopted the new, five-year Economic Development Strategic Plan. This plan provides a roadmap to guide the City’s eƯorts to support the business community and create a sustainable Goleta economy for all. The Plan was developed by key community and business leaders in response to a more than a yearlong robust community and stakeholder engagement process.
This 5-year plan was meant to be executed through the end of 2028. The Santa Barbara South Coast Chamber of Commerce and other members of the core planning team, which helped to shape the plan, have expressed our concerns regarding executing the plans various imperatives and strategies within the 5-year timeframe. While we applaud the City for its previous investments in implementation of the economic development plan and other economic development priorities, the status quo of $100,000 a fiscal year is not sustainable for following through with the plan.
Below is the Santa Barbara South Coast Chamber’s suggestion for a FY25-26 economic development budget aimed at accelerating the implementation of the Economic Development Strategic Plan.
Total - $400,000
Childcare Support (Existing Investments) - $100,000
Economic Development Strategic Plan Implementation - $250,000 Item $ Estimate Imperative Strategy
Meet Me In Old Town $50,000 Enhance the
experience of
Goleta for both
residents and
visitors by
leveraging Old
Town’s unique
historical and
cultural identity and
investing in district
placemaking.
N/A
Innovation and
Technology Branding
$75,000 Amplify the
reputation of Goleta
as a world-class
center of innovation
and technology.
Support marketing
and branding
campaigns
designed to position
Goleta as a
technology and
innovation hub.
Research
best-practices and
study the feasibility
of launching a
publicly backed
startup investment
fund
$10,000 Amplify the
reputation of Goleta
as a world-class
center of innovation
and technology.
Study and launch a
publicly backed
equity investment
fund.
Small Business
Development and
Retention Program
$75,000 Improve City
Government
support of local
businesses and
relationships with
economic
development
stakeholders.
Partner with a third
party to create an
assistance
program for
businesses
navigating City and
other
government entity
processes.
Research best-
practices and study
the feasibility of a
publicly backed
micro-enterprise
loan fund
$10,000 Improve access to
economic
opportunity by
increasing the
availability of
livable-wage jobs
and enhancing
support for local
BIPOC and women-
owned small
businesses and
entrepreneurs.
Establish a micro-
enterprise loan fund
to help close capital
access gaps for
local small
businesses.
Other priorities not
identified here
$30,000 N/A N/A
Item Narratives
Meet Me In Old Town – Partner with the Santa Barbara South Coast Chamber of Commerce to continue the serious of Meet Me in Old Town summer events in 2026.
These events work to enhance the experience of Goleta for both residents and visitors by leveraging Old Town’s unique historical and cultural identity by having a regularly occurring branded event centered around Old Town. This would include 3 events in May, July, and August of 2026.
Innovation and Technology Branding – To support marketing and branding campaigns designed to position Goleta as the premier technology and innovation hub under the Chamber’s TechTopia brand which covers the entire South Coast region. Funding would be used for educational and promotional videos that highlight the nascent startup community and nationally competitive technology and innovation sectors (such as photonics, infrared, quantum computing, bio-med, software, nanotech, and defense/space) that Goleta is home to. This would include targeted tours of a Goleta business, laboratory, research space, etc. all aimed at providing the City Council and staƯ a first-hand experience at what some of the businesses create and the wide variety of jobs and economic impact they have.
Additionally, City financial support for the Chamber’s workforce development eƯorts to support career pathway opportunities (in these industries) for historically marginalized populations would lead to more Goleta residents achieving careers that lead directly to a living wage in our region.
Research best-practices and study the feasibility of launching a publicly backed startup investment fund – An opportunity exists for the City of Goleta to research best-practices and study the feasibility of launching a publicly backed startup investment fund to help close local startup capital gaps. Access to capital for high growth startups is critical to building a competitive entrepreneurial ecosystem. Unfortunately, private angel, seed, and venture capital investors still tend to invest in major startup hubs like San Francisco, Seattle, Austin, and New York City, making it diƯicult for entrepreneurs in smaller markets to attract the investment capital they need to grow. Increasingly, local governments are stepping up to fill this gap.
Small Business Development and Retention Program – The City of Goleta has several distinct business districts. Each have a variety of diƯerent types of businesses, all with their own unique sets of strengths and challenges. It can often be diƯicult to ensure that the needs of all the City’s businesses are being represented in discussions that focus on the City as a whole. The Chamber proposes a dedicated eƯort by our organization to do targeted and specific outreach to businesses across these districts to better understand their needs, identify ways that their various strengths can be leveraged, identify strategies to address their challenges and barriers, and bring more businesses into discussions at the City level and throughout the community. The Chamber would present updates on the previously described findings to the Economic Development Committee on a regular basis.
Research best practices and study the feasibility of a publicly backed micro- enterprise loan fund – Small businesses are vital to the health of Goleta’s economy, ranging from main street retail shops and local restaurants to construction businesses and small manufacturers. These small businesses provide income for families and create jobs for residents. For many small business owners, particularly those from marginalized populations, their idea, service, or product is marketable, but operating capital is out of reach. This issue is even more acute for early-stage businesses that have diƯiculty qualifying for private bank loans. A publicly backed micro-enterprise loan fund can help small businesses get started, ensuring that they remain a critical component of Goleta’s economy. Other priorities not identified here – Two imperatives with their own various strategies are not outlined in this current proposal:
o Imperatives
Position Goleta as a local leader of high-quality, innovative aƯordable child-care and housing solutions.
Promote and advocate for smart investments in essential community infrastructure.
o Other Relevant Strategies
Dedicate an economic development staƯ position within the City Manager’s OƯice.
Analyze the City permitting process to identify and implement opportunities to improve eƯiciency and ensure appropriate staƯing levels.