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ATTACHMENT B1 <br />ECONOMIC DEVELOPMENT <br />PURPOSE <br />The overriding goal of this element is the enhancement of the community's economic well- <br />being. Through a series of policy recommendations, the Economic Development Element <br />identifies a means of stimulating economic improvement for business and the community <br />as a whole. It lays out a direction and strategies for dealing with economic variables and <br />adjusting to economic forces that cannot be predicted or controlled. It is a key component <br />to the integration of all elements of the Comprehensive Plan, suggesting ways in which the <br />City and its partners can use effective economic strategies in order to achieve the goals of <br />the Plan. <br />There are three primary ways in which local economic activity can be affected: <br />• Land use and utility planning that determine, within the local infrastructure, the <br />space available for residential and nonresidential development <br />• Directly or indirectly influencing private- sector decisions as to location, <br />operation, and development of business real estate <br />• Helping coordinate public and private sector efforts to enhance the <br />employability and job progression of the residential population. <br />l'he Economic Development Element presents a focused approach to enhancing our City's <br />economic well- being. This approach can be summarized as follows: <br />• Sustain moderate growth <br />• Target high salary industries <br />• Improve the opportunities for education and job acquisition for Tukwila <br />residents <br />• Provide capacity to meet Tukwila's employment targets as set by the <br />Countywide Planning Policies <br />• Encourage growth into certain areas through the use of zoning and <br />developmental regulations <br />• Encourage the retention and growth of existing local firms <br />• [Encourage entrepreneurs and small businesses] <br />1 City of Tukwila Comprehensive Plan - Community Image Element PC Recommended Draft <br />Z: \DCD n Clerk's \PC Laserfiche Packet \2014 PC Packets \07 -22 -14 and 7- 24- 14 \B1_ECONOMIC DEV--- Element_ to_PC_w_ <br />COMMENTS.docx <br />Comment [BM1]: Third way added to <br />address what economic development can <br />do for residents. <br />Comment [BM2]: The old element <br />discussed code enforcement in Economic <br />Development. This no longer seems <br />proper. All references to code enforcement <br />have been removed. <br />Comment [BM3]: Economic Development <br />is more than just businesses, but also <br />needs to focus on residents. <br />Comment [BM4]: Language added. <br />29 <br />