TITLE
Recommendation to request City Manager to work with the Office of Equity to identify a philanthropic or educational partner to conduct an economic equity study on the City of Long Beach, and report back in 60 days.
DISCUSSION
To plan for more economically equitable regions, communities first need to know where they stand in terms of equity. To assist communities with that process, philanthropic organizations and funders conduct studies to identify and measure various equity indicators that prevent economic vitality.
For example, PolicyLink's "All In Cities" initiative produces equity profiles in partnership with leaders around the country working toward building equitable and sustainable economies. Each equity profile presents demographic trends and assesses how well regions are doing to ensure its diverse residents can participate in the region's economic vitality, contribute to the readiness of the workforce, and connect to the region's assets and opportunities. Once the data is collected, PolicyLink works with city leaders to advance equitable growth strategies designed to achieve measurable progress on economic inclusion.
There is a growing body of research that finds that greater economic opportunity fosters stronger economic growth and more equitable regions. The first step in improving pathways of opportunity for Long Beach residents is to obtain a complete picture of our strengths and challenges.
An economic equity profile is essential to the "Everyone In" economic inclusion initiative. By obtaining disaggregated data on Long Beach, we can better understand the challenges facing our community, and will be better equipped to develop solutions, track progress, and move the needle toward a more prosperous economy where everyone can participate and reach their full potential.
FISCAL IMPACT
There is no significant fiscal impact for this requested report.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
VICE MAYOR REX RIC...
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