Economic Sustainability Strategy

To ensure that Santa Monica’s local economy – and the opportunities, services, and infrastructures it supports – continues to thrive long into the future, we must anticipate and plan for the technological and economic changes ahead. The City is aiming to develop a proactive, long-term economic sustainability strategy that helps our community harness disruptive technologies and trends to create a more equitable and resilient economy, which serves everyone for decaces to come. As we build our strategy, we would like to: Collect input from residents, community members, local businesses and thought leaders, researchers, and partners. Inventory external threats and opportunities, and internal strengths and weaknesses. Explore potential market opportunities that would enable Santa Monica's economy to continue to thrive within the context of the regional, national, and international economy. Identify best practices for the City to stay ahead of future disruptions and nimbly manage impacts on the local community. Develop governing, legislative, and community implementation approaches. Ensure that we support the City’s Framework as well as local values, goals, and priorities. Consider how to support future investments in planned and desired local infrastructure and placemaking, which in turn could bolster sustained economic prosperity. We believe that new technologies and innovations may create exciting opportunities for some, while leaving others out, or even creating new challenges. Too often regionally and nationally, disadvantaged populations bear a disproportionate share of the costs for public policies and do not receive a fair share of the benefits. Without intervention, economic and technological changes could exacerbate inequities. We want to pioneer a long-term economic sustainability strategy that redresses historical inequities, improves community wellbeing, and encourages innovation. See Attachment A for complete details and instructions. Please note: Contractor selection date is an estimate.