Agenda - Council - 10/25/1983 - Laserfiche WebLink

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CONCLUSIONS Based on its work with ETAC and staff research, the Council reached the following conclusions: o The Council currently has economic goals but no policies to implement them. o Businesses have fundamental needs in which governments can play or currently are playing a role. Businesses need land, urban services, financing and a reduction in the time government reviews take. o Historically, the Twin Cities economy has been healthy and diversified. However, the recent recession and the much talked about structural change in the United States economy makes encouraging continued growth and adaptation an important issue for regional planning. o Most economic growth in urban areas comes from the expansion of existing firms (large or small) or new starts. Small businesses are an important source of new jobs. Attracting outside industries is not a major source of new jobs. o Financing can be a problem for all businesses when interest rates are high, but it is almost always a problem for small, new businesses. The problem, however, is national--not specific to Minnesota or the Twin Cities. ECONOMIC GOALS Based on the work described above, the Council has re-examined the economic goals contained in the Metropolitan Development Framework. The Council has refined existing goals and added a new one on the economic climate. The economic policies summarized in this document are intended to help achieve the following goals. To have a region by the year 2000 that has: o Economic development that keeps pace with growth in the labor force and enhances the Region's standard of living--measured by growth in jobs, income per household and tax base. o High rankings nationally in education and income, and low rankings in unemployment rates and in number of persons below poverty level. o Opportunities for economic advancement for persons of all ages, races, income, sex, training and educational background in the Region. o A diverse regional economy strong enough to support high quality public services and other Development Framework goals for the Region. o A regional economic climate that encourages business development and entrepreneuri al activi ti es. o A strong agricultural economy in the Region's rural area. m m m m m m m m m m m m m m m m m m m