
By Phillip Pesola–
The Citrus Heights City Council voted last month to renew membership with the Greater Sacramento Economic Council (GSEC) for $35,124, in a continued effort to strengthen the local economy.
GSEC is a public-private service organization, representing 45 CEO’s and 20 communities of 2.5 million people in the greater Sacramento region, including Citrus Heights.
The council was founded in 2015 in the wake of the Great Recession, and over the past seven years the economic council has helped to create over 10,000 jobs and bring in $2.4 billion in capital investment to the area, according to GSEC Executive Vice President Scott Powell. Over the 2021-2022 fiscal year alone, he says 3,000 new jobs were created, with an average salary of $143,000 per year.
In a July 28 presentation given to the Citrus Heights City Council, Powell noted the greater Sacramento region’s economy is an interconnected whole, with each smaller region contributing to the success of the others. Citrus Heights, for example, only has 12.3% of its residents working within the city, he said.
GSEC seeks to educate business leaders on the advantages of relocating to the Sacramento area, demonstrating that the region is a strong competitor when compared to other alternatives. Looking forward to the next fiscal year, the organization plans to provide incentives and partnerships to help companies scale, continue to support small businesses, facilitate training, and develop additional employment opportunities.
Powell said the region has a strong semiconductor industry, which is expected to grow even more thanks to the Creating Helpful Incentives to Produce Semiconductors for America Act.
Since 2015, the city council has approved membership of Citrus Heights on an annual basis to the organization, which is tasked with attracting businesses to the area, building resilient industry clusters, and strengthening and diversifying the local economy.
City Manager Ashley Feeney serves as a board member with the organization, and their Economic Development Director Taskforce is currently led by the city’s economic development director, Meghan Huber. According to Huber, GSEC provides several benefits to the city, including attraction of business and development, market intelligence and data analysis resources, and connectivity with developers, banking and finance institutions, and regional initiatives.
In response to a question from Vice Mayor Tim Schaefer regarding the local labor pool in comparison to other regions, Powell reported that the Sacramento region has the advantage of being one of the top destinations for people moving out of the Bay Area.
Funding for membership in GSEC comes from the city’s Economic Development Support Fund.
By Phillip Pesola--
The Citrus Heights City Council voted last month to renew membership with the Greater Sacramento Economic Council (GSEC) for $35,124, in a continued effort to strengthen the local economy.
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