Agenda - Parks and Recreation Commission - 04/10/2014

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Prosperity Prosperity is fostered by investments in infrastructure and amenities that create regional economic competitiveness, thereby attracting and retaining successful businesses, a talented workforce, and, consequently, wealth. Regional economic competitiveness results from strategic, long-term public and private decisions that build on and grow our region's economic strengths relative to other regions. Collectively, the region must provide great locations for businesses to succeed — particularly the industries that export products or services beyond the metropolitan area and bring revenue into the region. Advancing prosperity involves: • Fostering the conditions for shared economic vitality by balancing major investments across the region; • Protecting natural resources that are the foundation of prosperity; • Planning for and investing in infrastructure, amenities and quality of life needed for economic competitiveness; • Encouraging redevelopment and infill development across the region. Minneapolis and Saint Paul developed as cities because of their favorable locations. Saint Paul was considered the navigable head of the Mississippi River, while Minneapolis found its origins alongside the hydropower provided by Saint Anthony Falls where milling blossomed. James J. Hill's Great Northern Railway brought the agricultural wealth of the entire northwestern United States through Minneapolis and Saint Paul, creating and reinforcing the region as a financial hub. Though the economy has evolved over the last 150 years, businesses seek locational advantages, particularly access to a skilled workforce, access to markets and an overall environment that allows them to compete in the global market. Some businesses rely more heavily on freight and the movement of goods, while knowledge -intensive services concentrate on moving people to jobs and on the quality of life that attracts and maintains a highly -skilled workforce. The Metropolitan Council's regional planning and infrastructure set the stage for our region's economic competitiveness and prosperity. While local economic development authorities and others work directly with businesses, the work of creating, attracting and retaining businesses to the region requires coordinated efforts. The Council's contributions to regional economic competitiveness lie in the arena of community development—that is, supporting the infrastructure, amenities and quality of life that are essential to attracting and retaining businesses and talent. The Council will use its authority and capacity to plan and invest in community development and consider prosperity and economic competitiveness as a lens through which to evaluate its planning, operations and investment decisions. DRAFT FOR PUBLIC COMMENT Last revised: February 21, 2014 13