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Receive a report on the Solano County 2019 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 2019 Index of Economic and Community Progress.
SUMMARY:
The Solano County 2019 Index of Economic and Community Progress was prepared by Dr. Robert Eyler, a principal at Economic Forensics and Analytics in Petaluma, and working in consultation with the Solano Economic Development Corporation and the County Administrator's office. The Index tracks key economic and community indicators that are shaping the local economy. This 12th edition of the Index includes a housing "Deep Dive" as well depicts labor market, business and income, population, education, and workforce readiness indicators for Solano County for 2019. The report also provides some insight from Dr. Eyler on the potential negative economic impacts from COVID-19 in early 2020 to Solano County, the State and Nation. These futuristic predictions may help the county (and public and private sector partners) to strategize and to develop economic recovery programs to bring back the jobs and personal incomes that were lost in 2020 due to COVID-19.
The document is also available online at www.solanocounty.com/economicindex
FINANCIAL IMPACT:
The cost for the consultant firm Economic Forensics Analysis, led by Robert Eyler, Ph.D., to prepare the 2019 Index was $20,000, which was included as part of the County's FY2019/20 Adopted 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 identified a need for more fact-based information to guide efforts by leaders in both the public and private sectors to expand the long-term viability of the Solano County economy. Three comprehensive edition...
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