Page 416 - FY 2025 Adopted Operating Budget and Business Plan

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Invest in Our Economy

Goal 1: Enhance Economic Impact Through Development and Redevelopment Efforts,
Partnerships, and Investment Opportunities
Objective 2: Build a Strong and Diverse Business Community
Project Performance Measure(s) Department(s)
IOE Business Recruitment and • Recruitment Leads Economic Development
1.2.1 Retention • Leads to Prospects
Summary:

The Office of Economic Development is participating in
recruitment efforts related to the City’s identified targeted
industry clusters. The adopted clusters are: Targeted
Industry Aerospace Automotive Products Medical Devices Industrial Manufacturing Business and Professional Service
1) Aerospace Leads
2) Automotive Products
3) Business and Professional Services
st
1 Quarter 1 3 1
4) Medical Devices nd
5) Industrial Machinery and Manufacturing. 2 Quarter 1 2 2
rd
3 Quarter 2 1
th
As outlined in the Economic Development Strategy, the 4 Quarter 2 4 2 7 10
Office works to generate leads and recruit companies
within these industry clusters, which will assist in reaching As recruitment leads are generated and projects arise, they
one of the City’s primary economic development goals – will be identified and tracked on an active projects list
competitive positioning, allowing the City to capture a reported to the City Management Office every month. The
larger share of high-wage, high-impact growth. list will track potential capital investment, jobs created and
details about each project in order of priority. Staff will
continue to develop knowledge of the business climate
that may lead to a compelling case for industry prospects
to locate in Arlington.

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