ECONOMIC DEVELOPMENT DESCRIPTION The Department of Economic Development promotes enhanced job opportunities and broadens the tax base of the City of Suffolk through the recruitment and retention of business and industry, maintains and encourages the continuation of a favorable business environment for businesses to locate and expand within the City, and attracts and encourages new national and international businesses to locate and invest in Suffolk. The Department provides staff support to the Economic Development Authority (EDA) and oversees the divisions of Aviation Facilities and Tourism. CITY COUNCIL TARGET AREA Expanded Economic Development
FY 23 OBJECTIVES Create a vibrant downtown by implementing the downtown master plan and reviewing policies for new investment in the downtown corridor. Create new industry and jobs and promote entrepreneurship. Retain and enhance existing businesses. Continue to explore opportunities to enhance and streamline the development review process. Facilitate development of public and privately owned property. Facilitate partnerships between Suffolk Public Schools and the business community for workforce development and career opportunities.
PERFORMANCE MEASURES Number of jobs created Amount of capital investment Square footage of capital investment Existing industry visits
CY 20 Actual 475 $84.8M 766,000 480
CY 21 Actual 907 $181M 2,500,000 468
CY 22 Estimated 1,250 250M 2,500,000 485
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