Next Economy releases the Capital Region Prosperity Plan
The effort that has come to be known as “Next Economy” unveils the Capital Region Prosperity Plan at a news conference on Tuesday, March 19, 2013 and set in motion widespread regional execution.
Under development through 2012, the Plan contains five overarching goals, 14 objectives, 68 strategies and 292 actions all geared to accelerate job and wealth creation. Also announced were the champion organizations responsible for achieving progress and anticipated new job creation and increased economic output gains that the region can expect if the plan is executed over the next five years.
Based on extensive research and expert input over 18 months, the Plan and the activities contained within have been embraced by the region’s leading economic development organizations and their business leadership, and has been officially adopted by five counties, 15 cities and two workforce investment boards thus far as their “economic game plan.”
Download the Capital Region Prosperity Plan
Download the Next Economy Executive Summary
Download the Capital Region Briefing Book
“It may seem like a long time in coming,” acknowledged Brice Harris at the news conference, Chancellor of California Community Colleges and one of the Leadership Group volunteer members that guided the planning and research phase since fall of 2011. “But the task of bringing an entire region together to supercharge a $97 billion regional economy with a concentrated set of business growth strategies to grow jobs and new investment is no easy feat.”
With the Next Economy framework now in place, the Capital Region of California, covering El Dorado, Placer, Sacramento, Sutter, Yolo, and Yuba counties, joins together to pursue a competitive and strategic economic development agenda to bring about resiliency, vitality and a wide range of new opportunities for job creation, innovation and increased investment.
See recent news:
Sacramento Business Journal, March 19, 2013 -- Next Economy plan sets goals for economy's transformation
Sacramento Bee, March 19, 2013 -- Next Economy plan offers potential for 35,000 new jobs in Sacramento region
Sacramento Bee editorial, Dec 9, 2012 -- Is Next Economy the Sacramento Region's salvation?
Sacramento Business Journal article, Nov 30, 2012 -- Economic blueprint effort moves into high gear
Action steps, performance measures and accountability structure
With completion of the Executive Summary, development of the Next Economy Implementation Plan now begins. The Implementation Plan will define tactical, action-based activities, lead implementers, performance measures and timetables for execution by champions across the Region. Developing the Implementation Plan will take place through end of this year with execution expected to begin in Q1 2013.
A formal accountability structure is also currently being defined, as it is recognized as the lynchpin to successful and impactful outcomes. The business leadership from the Metro Chamber, SARTA, SACTO and Valley Vision will each sign a Teaming Agreement that specifies roles and performance obligations toward Next Economy execution and each organization is working to integrate Next Economy strategies and actions into existing annual workflow in accordance with organizational expertise.
Next Economy Investors | Next Economy Project Overview
Through the Next Economy planning process, many questions have surfaced in respect to accountability, implementation processes, regional engagement and long-term governance. For brief answers to those questions, review this FAQ.
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