The following goals and objectives are proposed to guide the City's efforts in addressing its economic development and employment concerns with the overall aim of improving the quality of life in Pasadena. These concerns center around the three general goal categories of a sound local economy, increased City revenues and a well-employed labor force. There are obvious and important interrelationships between economic development and housing. Goals and objectives concerning housing are contained in the Housing Element of the General Plan. A goal is defined as a generalized ideal which provides a sense of direction for action. It represents an aspiration which may or may not be achievable. An objective is a more tightly defined, often quantified, target, the achievement of which is a step toward fulfillment of the goal. The goals as set forth below are not necessarily in order of priority.
GOAL 1:A sound local economy which attracts investment, Increases the tax base, creates employment opportunities for Pasadena residents and generates public revenues.Objectives:1.1. Revitalization of declining commercial and industrial areas and obsolete facilities through redevelopment, rehabilitation and other available means.1.2. Expanded visitor and tourism activity.1.3. Increased cooperation and coordination between public and private sectors in the formulation of economic development plans and programs.1.4. Adequate infrastructure capacity to support existing and new development, Including closer coordination between economic development and capital improvements programming.1.5. Sites for expansion of existing commercial and industrial uses and attraction of new establishments and projects.1 .6. Attraction of high technology industry which will enhance the local economy, support Pasadena's image as a research and development center and is consistent with structural changes occurring in the national economy.1.7. The retention and expansion of small businesses.
GOAL 2:An economic strategy which balances the need for development with other City goals and objectives.Objectives:2.1. Preservation and enhancement of Pasadena's assets and character which make it attractive both as a quality residential community and as an economic investment.2.2. Adaptive reuse of older commercial structures and complementary and compatible new developments of superior quality,2.3. Development opportunities which result in minimal adverse impacts to the City's environment and housing supply.2.4. An economic climate conducive to attracting new developments which yield net social and economic benefits to the City.2.5. An equitable sharing between the public and private sectors of the full costs of public improvements and services specifically and uniquely attributable to individual new developments.
GOAL 3:An increased flow of public revenues accruing from economic development.Objectives:3.1. Economic investment which results in maximum public revenues and minimum public service costs.3.2. Increased retail tax revenues through expansion of the retail tax base and/or increase in the number of potential shoppers.3.3. Increased City's share of the wealth and income generated by the regional economy.3.4. The retention and use, to the maximum extent practicable and feasible, of tax increment revenues for development activities as permitted by law.
GOAL 4:Increased opportunities for personal growth through productive and satisfying employment.Objectives:4.1. A wide range of diversified employment opportunities for Pasadena residents including employment fields, job categories, required training and skill levels.4.2. Removal of impediments to gainful employment such as lack of transportation, training, job information and child care.4.3. Greater coordination between existing and future employment needs, educational curricula and job training programs.4.4. A trained labor pool designed around the needs of an information and service-based economy.
GOAL 5:Sustained reduction in the City's unemployment rate, particularly among minorities and the disadvantaged.Objectives:5.1 Elimination of all forms of unlawful discrimination employment practices.5.2. Wide dissemination of information on regional job opportunities for semiskilled and unskilled workers.5.3. Effective outreach into communities of high unemployment by job training, referral and placement programs.5.4. Employment opportunities for residents of impacted neighborhoods.5.5. Greater use of resources generated from economic development support job training, referral and placement programs.5.6 Retention of existing employment opportunities in the City for semi-skilled and unskilled workers