The City of Davis is pursuing economic development through a staff-level focus on improving the City’s technological portfolio. But increasing staff size and especially for such a dedicated purpose can be budgetary difficult. That’s why Davis chose a public-private partnership.
The Staff Report describes the measurable results that the City hopes to realize, and how it is leveraging private dollars on a 1:1 ratio with City resources. Each partner will contribute $120,000 towards the overall cost of $240,000.
Among the goals stated is the transformation of Davis into a technology intellectual hub by recruiting new tech businesses to the area.
“During the last several decades, the U.S. economy has been undergoing a dramatic transformation as the nation and globe move to economies driven by innovation through the creation of new industries and the application of new technologies in traditional industries. Competing in a global economy, regions must have an economic base composed of firms that constantly innovate and maximize the use of technology in the workplace. Technology-based economic development is the approach used to help create a climate where that new economic base can thrive. “