At today’s Annual State of the Chamber luncheon, Chamber CEO Matt Yancey released the 2020 Davis Prosperity Plan. Designed as a living document, the Chamber will utilize it as a guide for its strategic organizational development.
According to a release, “It will serve as a call to action for its members and community, as well as a framework for its members and community, as well as a framework for mutually beneficial partnership with the 6-county Capital region.”
It establishes five primary objectives: enhancing membership value, strengthening community relations, cultivating economic vitality, and engaging in local and regional advocacy; and finally growing and retaining a world class workforce.
Matt Yancey told chamber membership today that if they achieve those objectives, they believe Davis can grow 6000 new jobs over the next six years.
“With this plan, the Davis Chamber is looking to the future, while remaining grounded in what has made us and our city strong. Serving as a guide for the next five to six years, we’ll use it to ensure that we continue to evolve with the changing needs of our members and the economic conditions of our community,” said Mr. Yancey. “Most importantly, though, we see this as an outward-facing strategy; one that is intended for collaborative implementation with the community. Going it alone would defeat the purpose.”
The 2020 Prosperity Plan focuses on Davis’ unique strengths but was deliberately designed to integrate with the efforts of the Next Economy Capital Region Prosperity Plan. Mr. Yancey announced at the luncheon that it has been ratified as a Next Economy Partner Teaming Agreement.
Next Economy is a volunteer-led initiative that covers El Dorado, Placer, Sacramento, Sutter, Yolo, and Yuba counties – known as the Capital region.
“It serves as the Capital region’s framework for transforming our $97 billion annual regional economy into one that is well-connected to global marks and possesses a vibrant environment for entrepreneurism and investment, world class talent, a diverse economic base, and a business climate geared for economic growth,” a release stated.
“As the epicenter of the Capital region’s innovation economy, Davis’ economic performance significantly impacts that of the whole region. But, we’re one city in a region of 2.3 million people,” said 2014 Board Chair Jennifer Nitzkowski, Carbahal & Company. “That means we’re also heavily impacted by the economic health of the entire region. In developing this plan, we knew we had to ensure it didn’t place us in a vacuum.”
Mr. Yancey announced that ratification of the plan as a Next Economy Teaming Agreement, the Davis Chamber becomes the first single-city chamber of commerce to join a regional coalition that includes the Sacramento Metro Chamber, Sacramento Area Regional Technology Alliance, Sacramento Area Commerce and Trade Organization, Sacramento Asian Chamber, NextEd, Valley Vision, and the Northern California World Trade Center.
“When we first joined forces under the banner of Next Economy, we envisioned a framework for economic development that provided regional vision, but that was anchored in local action,” said Bill Mueller, President & CEO of Valley Vision. “What we have in the Davis Chamber’s 2020 Prosperity Plan is the realization of that vision. One that we hope takes root and grows throughout the rest of the Capital region’s communities.”
According to the Executive Summary, “The 2020 Davis Prosperity Plan is a business-led, volunteer-driven local endeavor that compliments the regional work that culminated in the adoption of the Next Economy Capital Region Prosperity Plan (Next Economy) as a federally recognized Comprehensive Economic Development Strategy (CEDS) in 2014.”
Next Economy specifically “challenges government leaders, educational institutions, not-for-profit economic development organizations (like the Davis Chamber) to initiate bold new approaches to bring about economic recovery and to actively work together to make those approaches succeed.”
Since 2011, “the Davis Chamber of Commerce (Chamber) has purposefully built a foundation of improved operational processes, more relevant services and events, and a strengthened financial position with a more visible and active role in our community.
The 2020 Davis Prosperity Plan is “a result of our internal assessments and positioning at the nexus of a renewed local and regional focus on economic development. Our scope of work is based upon our community’s unique strengths, weaknesses, opportunities and threats and is structured so that many activities are aligned with Next Economy.”
The plan comes with an aggressive set of performance goals. They note, “the Board of Directors will regularly review progress toward achieving the objectives of the 2020 Prosperity Plan. Should economic conditions dictate, or unique opportunities require, the Board of Directors may periodically revise the plan.”
Economic Indicator Metrics include: Increase jobs by 6,000 over 2014 year-end baseline, Increase number of establishments over baseline, Increase annual revenue for operating budget by 150% over Jan 2015 baseline, Increase number of members by 25% over Jan 2015 baseline, and Maintain average annual unemployment at or below 2014 level.
In response to the goal of 6000 jobs created, Mr. Yancey noted that as economic developers “we don’t create a whole lot of jobs directly ourselves. What we do as economic developers is we create the environment in which jobs can be created.”
So he said that they believe if they hit the marks of the 2020 Prosperity Plan “we will set the environment where all of you… will be in the position to create combined 6000 net new jobs over six years.”
—David M. Greenwald reporting