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Pushing to sustain local growth in a "new fiscal and competitive reality," City Council voted to craft economic development policies aimed at recruiting new investment and major projects, attracting more international attention and supporting local businesses.
The details: Officials passed a resolution from Mayor Kirk Watson on May 7 that kicks off the creation of what he called an "active, progressive" civic economic development playbook. The council directive was based on an overview of Austin's current situation and proposals for future economic opportunities, including public benefits.
The May vote launches a monthslong process to draft the city's new policies. They'll feature an inventory of Austin's existing economic tools, analysis of recruitment priorities, a small business development program, a focus on international partnerships and more.
The plan drew support from Austin's business community, and concerns from dozens of residents who opposed civic support for certain types of businesses tied to the military or artificial intelligence. References to those sectors were removed from council's approved resolution.
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