Reaction to yesterday’s Budget and Audit Committee meeting
June 15, 2019
Data show need for inclusive economic development in Sacramento and city acts accordingly
Today was a bold step forward toward realizing the true tenant for Measure U funding. After much debate, the city council voted 8 to 1 to approve the Mayor’s budget proposal with an upfront initial $16 million in investment but leaving much work for the Measure U citizen’s advisory and investment committees to tackle with the remaining $32 million.
Taking into account the May 2019 Brookings Institute data showed that Sacramento dropped from 84th to 91st in inclusion nationally, the city is taking the necessary action to close the gap in our historically undervalued and left behind communities.
With the first hurdle behind it, the city must now focus on accountability and metrics. Greater Sacramento Economic Council will be watching the outcomes to ensure the funding for capacity building in neighborhoods and the creation of new economic engines in priority neighborhoods are front and center.
An inclusive economy is one in which there is expanded opportunity for more broadly shared prosperity, especially for those facing the greatest barriers to advancing their well-being. Preparing a broader and more diverse set of firms, workers and communities to reach their productive potential offers a compelling opportunity for growth. This is the course we are charting in the Greater Sacramento region.
Learn more about the 2022 Greater Sacramento Annual Celebration and our award winners.
Greater Sacramento has one of the most diverse talent pools in the country and is one of the most productive regions in California. It’s not only the #3 most diverse region in the country, but also the #3 region for diversity in tech and STEM.
Governor Newsom’s enacted state budget for Fiscal Year 2021/2022 created the California Competes Grant Program (CCGP) and appropriated $120 million in funding. Learn more about evaluation criteria for the CalCompetes grant program and the 2022 application timeline.