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Receive a report on the Solano County 2023 Index of Economic and Community Progress
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
It is recommended the Board of Supervisors receive a report on the Solano County 2023 Index of Economic and Community Progress.
SUMMARY:
The Solano County 2023 Index of Economic and Community Progress (Index) was prepared by Dr. Robert Eyler, president at Economic Forensics and Analytics in Petaluma, working in consultation with the County's Administrator's Office and the Solano Economic Development Corporation. The Index tracks key economic and community indicators that are shaping the local economy. This 16th edition of the Index commissioned by the Board of Supervisors includes labor market, business and income, population, education, and workforce readiness indicators for Solano County. The document is also available online at www.solanocounty.com/economicindex
FINANCIAL IMPACT:
The cost to develop the report is $20,000 and is included in the County's Promotion FY2023/24 Working Budget. The cost to prepare the agenda item is nominal and included in the County Administrator's FY2023/24 Working Budget.
DISCUSSION:
Background: The Solano County Index of Economic and Community Progress is a project that was launched in 2007 after a series of economic summits sponsored by the Board of Supervisors. Those meetings identified a need for more fact-based information to guide efforts by public and private sector leaders to expand the long-term viability of the Solano County economy. Three comprehensive editions were produced for 2008, 2009 and 2010 by the consultant Collaborative Economics for the County of Solano and the Solano Economic Development Corporation. The Index was compiled by the County Administrator's Office for 2011 and 2012. Dr. Robert Eyler of Economic Forensics and Analytics reviewed the 2012 report and was retai...
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