Item #05
Date: March 5, 2024
To: Mayor and City Council
From: Jim Schaad, City Manager
Subject: Yuba-Sutter Economic Development District Comprehensive Economic Development Strategy (CEDS) Appendices I, IV, V updates and 2023 CEDS Annual Performance and Evaluation
Recommendation:
Pass a Motion to adopt Resolution 2024-XX, to approve the 2023 Comprehensive Economic Development Performance Report and the updated Appendices I, IV, and authorize its submittal to the Unites States Department of Commerce, Economic Development Administration as set out in Resolution 2024-XX.
Background:
This Comprehensive Economic Development Strategy (CEDS) is the result of a local planning process designed to guide the economic growth of the Yuba-Sutter region. The CEDS process helps create jobs, foster a more stable and diverse economy, and improve living conditions. It provides a mechanism for coordinating the efforts of individuals, organizations, local governments, and private industry concerned with economic development.
An annual CEDS Performance Report is required to qualify for U.S. Department of Commerce, Economic Development Administration (EDA) assistance under its public works, economic adjustment, and most planning programs.
This evaluation document represents the goals and objectives of the Yuba-Sutter Economic Development District which is comprised of Yuba and Sutter Counties and the cities of Marysville, Live Oak, Wheatland, and Yuba City.
Discussion & Analysis:
The CEDS process is a continuing economic development planning process, developed with broad-based and diverse community participation. Included in the packet is the CEDS 2023 Annual Performance Report and updates to Appendices I, IV, and V:
• Listing of CEDS Committee Members and Staff
Item #05
• Adjustment to the Strategy and comparative review of regional performance in labor force, unemployment, per capita personal income, average wages, number of establishments and gross domestic product.
• A performance metrics comparison 2023 versus 2022 in employment/workforce, economic performance, and education attainment.
• Evaluation of progress on goals and tactics as identified in the CEDS document. • A report on economic development activities of YSEDC
• Also provided are the following updates to the following appendices:
1. Appendix I, Data Profiles: An in-depth review on employment, workforce, industry performance, wages and demographics of the Yuba-Sutter region.
2. Appendix IV, Agricultural Economic Profile: Designed to ensure understanding of the impact agriculture has on the region.
3. Appendix V, Public Works Projects: This list of projects identifies needs of the region and reflects the goals of the CEDS.
The 2023 CEDS Annual Performance Report reflects how the specific challenges and opportunities of the Yuba-Sutter Economic Development District were addressed and assesses the state of the regional economy, the opportunities and threats posed by external trends and forces and the progress made toward achieving regional vitality and sustainability.
Data and information for the 2023 CEDS Annual Performance Report was collected from a variety of sources which included a survey to 86 community implementation partners from both public and private sectors, U.S. Census Bureau, U.S. Bureau of Labor Statistics, California Employment Development Department and American Community Survey.
The report shows a positive forward progress to achieving the Yuba-Sutter regional vision to foster a vibrant, prosperous and growing Yuba—Sutter region through exceptional leadership and involvement of the community.
The 2020-2025 Comprehensive Economic Development Strategy and appendices are available for review at: https://www.chooseyubasutter.com/strategy
Alignment with City Council Goal(s):
Goal #2: Expand Economic Development
Attachments:
1) 2023 Evaluation Report Presentation
2) 2023 Performance and Update Report
3) Resolution 2024-XX
4) Appendix V