I. PURPOSE
The purpose of this policy is to provide a fundamental overview of the City of Santa Clarita’s economic development approach based on a three-part strategy to foster responsible economic development opportunities resulting in: a jobs/housing balance established through quality employment opportunities for residents, an economic base through increased sales tax generation, and economic wealth by attracting external monies to the local economy.
II. POLICY
The City of Santa Clarita (City) accomplishes the objectives mentioned above by implementing ways to make it easier to do business within the City. The City’s business - friendly approach to economic development offers several advantages to businesses, including a variety of business incentives, the City’s One -Stop Permit Center, and service - focused business assistance.
Ensuring high-quality jobs are available for residents propelled the formation of the Santa Clarita Valley Economic Development Corporation (SCVEDC) in 2009 to help grow the number of high -quality jobs in five key industries: aerospace and defense, advanced manufacturing, information technology, medical devices and bioscience, and digital media and entertainment. The City’s ongoing partnership with the SCVEDC helps attract growing companies that result in a jobs/housing balance that enhances the quality of life for residents. Additionally, the City established strategic partnerships with the Santa Clarita Chamber of Commerce and Valley Industry Association to strengthen efforts in the business community, which continues to be integral to reaching the City’s economic development goals.
In 2014, the City established the Santa Clarita Business Incubator to stimulate local economic growth by promoting entrepreneurial innovation for creative and technology - focused startup companies. Recognizing that industries are changing, and to continue local economic prosperity in an increasingly technology -focused world, the City identified the need to help develop innovative local talent, support their growth, and promote their continued development as they transition and grow to be the future of the City’s business community.
City of Santa Clarita
POLICY/PROCEDURE
Number I-4.21 SUBJECT: ECONOMIC DEVELOPMENT POLICY
ORIGINAL ISSUE EFFECTIVE: 03/14/1988 CATEGORY: LEGISLATIVE RELATIONS CURRENT ISSUE EFFECTIVE:
1001/2413/20203 SUPERSEDES: I-4.1
RESPONSIBLE DEPARTMENT: CITY MANAGER’S OFFICE ECONOMIC DEVELOPMENT
STANDARD MANAGEMENT PROCEDURE
The City also focuses on efforts to increase sales tax generation by continually attracting community-desired restaurants and retail establishments to keep residents shopping, dining, and utilizing local services in Santa Clarita. Creating opportunities for increased sales tax generation indicates the health of the local economy . By increasing these dollars, the City is consistently able to invest in the community, making Santa Clarita an ideal place to live, work, and play.
The City continues to increase local economic wealth by attracting external monies to the local economy by way of tourism and filming. The City’s Tourism Program attracts world- class events and meetings with attractions aimed to amplify Santa Clarita’s reputation as a destination for leisure travelers, meeting organizers, and event planners. Additionally, Santa Clarita is consistently one of the most filmed places in California, offering thousands of film-friendly locations and a one-stop-shop Film Office that assists in film permitting and administering the City’s own Film Incentive Program.
Based on projected growth, the City’s approach plan to economic development remains responsible, sustainable, thoughtful, and strategic. More details on the City’s economic development history and efforts to support long-term economic development goals can be found within the General Plan under Economic Development Element.
III. AUTHORITY
Adopted by the authority of the City Council on March 14, 1988, and amended on October 13, 2020January 24, 2023.
____________________________________
Cameron SmythJason Gibbs
Mayor