July 25, 2012

 

The Economic Development District Board adopted the Regional Economic Strategy and Economy Report.

 

The Regional Economic Strategy is an active blueprint to ensure our region's long term sustainable economic prosperity. It outlines the Prosperity Partnership's initiatives for improving the five foundation areas of the economy: education and workforce development, business climate, entrepreneurship and innovation, infrastructure, and quality of life. Each foundation has a set of strategies - there are over two dozen strategies to achieve the region's economic development goals.   

 

The Economy Report assesses industry cluster and foundational issues associated with successful economic development strategies and creates a context for understanding the central Puget Sound's competitive position relative to peer regions. Industry clusters include: Aerospace, Business Services, Clean Technology, Information Technology, Life Science and Global Health, Maritime, Military, Philanthropies, Tourism and Visitors, and Transportation and Logistics.

 

The Regional Economic Strategy and Economy Report will serve as the region's Comprehensive Economic Development Strategy under Economic Development Administration guidelines. The board agreed on a number of improvements to the documents based on the recent 30 day public comment period, staff will be making these edits over the next couple of weeks and the final document will be online at psrc.org when this process is completed. Watch the discussion online at psrc.org.

 

For more information, contact Chris Endresen Scott at 206-971-3269 or cendresenscott@psrc.org.

 

The Economic Development District Board was briefed on the Transportation 2040 Update and Prioritization Process.

 

PSRC is updating Transportation 2040 to reflect changes that have occurred in the region since 2010. Prioritization will be a primary part of the Transportation 2040 Update in addition to the financial plan and maintenance and preservation of the existing transportation system. The prioritization process will focus specifically on the list of projects in the Transportation 2040 plan. The next step is to test Transportation 2040 projects with the measures and evaluation approach, and report results back to the boards and the Prioritization Working Group this fall for further direction. The set of nine measures is intended to reflect the values and policies within VISION 2040. They are: Air Quality, Freight, Jobs , Multi-Modal, Puget Sound Land and Water, Safety and System Security, Social Equity and Access to Opportunity, Support for Centers,  and Travel. View the presentation online at psrc.org.

 

For more information, contact Robin Mayhew at 206-464-7537 or rmayhew@psrc.org.

 

In other business, the EDD Board:

• Approved the Presidential Appointment of Lew McMurran, Vice President of Government and External Affairs for the Washington Technology Industry Association, to serve as Susan Sigl's alternate.