Angelou Economic's Preliminary Report

Yesterday’s Economic Development Committee was very interesting. A packed room heard the preliminary report from Angelou Economics and and initial impressions from VIA Architecture. Angelou Economics was hired to create an Economic Development Strategy for Tacoma, and VIA was hired to update the City’s master plan. Angelou came back a few months ago with the results of the Economic Impact Analysis with some interesting results.

So what’s in the newer, bigger report?

Alot.

Their identified target sectors for Tacoma to attract are:

• Business and Professional Services- Environmental Engineering, Regional Law Firms, Support Services such as Accounting
• Creative Arts and Design- Digital Media and Graphic Design, Industrial Design, Artisan Studios, Culinary Arts
• Financial Services- Headquarters, Investment Banking, International Finance, Insurance Companies
• IT & Software Design- Software Firms, Communication Services
• Trade & Logistics Services- Logistics and Freight Forwarding, Consulting Services

Their recommended first steps include continuing to support the International Financial Services Area, developing a marketing plan and creating a “Creative Economy Strategy” that includes a special B&O tax classification, concentrating arts growth in the old Brewery District through various incentives and regulatory changes. They also want Tacoma to encourage a “culture of entrepreneurship” and create a “Young Professional marketing strategy” by engaging young professional organizations in economic development efforts.

VIA only reported some initial impressions since their work is in the beginning stage. Their urban planning concepts seem to be along the lines of David Boe’s Imagine Tacoma work, with multi-modal streetscapes and a focus on livability. Their current themes for work in Tacoma are:

• Globally Competitive City
• Achieving Vitality Downtown
• Sustainable City
• City of the Arts

Sounds good to us. We’ll have to see how it all works out.

More information at it becomes available at CityofTacoma.org/DowntownStrategy