What is the goal?
Creating a single, guiding plan for strengthening the Sacramento region’s economy that supports new partnerships between regional organizations and creates opportunities for growth for all kinds of businesses.
Why is this important?
In 2006 the Sacramento region was regularly described as a “boomtown” and a top-20 area for job growth and entrepreneurism. Despite this reputation the area’s economic advantages were narrowing. Employment counts were heavily inflated by a large number of government and construction jobs which could quickly go from boom to bust (and did just that in 2008). Company costs were rising. Other areas were achieving success by getting business, community, education and workforce organizations to work together. It was time for the Sacramento region’s organizations to create a shared economic plan and to figure out how to make it real.
What is Valley Vision doing about it?
Valley Vision helped the CEO’s and Board leadership of 34 Sacramento regional organizations– including business, labor, banks, utilities, universities, and more– work together to create a joint plan to support business growth and job creation across El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties. Valley Vision interviewed organization leaders to capture their big ideas about how to help the region start its next chapter, helped partners review professional economic research about the area’s strengths, and helped the group navigate through the difficult process of identifying five top action areas they could all help make a reality.
The Partnership for Prosperity planning process occurred in 2006, with implementation activities occurring throughout the next five years. The region initiated a new planning process called Next Economy in 2012.
- The Partnership for Prosperity plan identified Clean Energy as an industry that could add new kinds of jobs to the region’s economy. The partners launched the Green Capital Alliance and saw the number of clean technology companies jump from 29 in 2005 to 98 in 2010.
- Once the organizations started working together they just couldn’t stop. This proven ability to partner made the region’s organizations an attractive investment for federal grants offered through the American Recovery and Reinvestment Act. The region won more than $297 Million to support projects that created jobs in the area.
- Sacramento Metro Chamber