MEMO TO: Mayor and Members of the City Council
FROM: Erika Vandenbrande, Director, Planning and Community Development
DATE: October 16, 2018
SUBJECT: Briefing of Eastside Economic Development Partnership Activities - Innovation Triangle and Startup 425
I. RECOMMENDED ACTION
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Staff will provide an update to Council on the eastside economic development partnerships and support formalizing the program through a memorandum of understanding.
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II. DEPARTMENT CONTACTS
Erika Vandenbrande, Director, Planning & Community Development 425-556-2457
Jill Smith, Manager, Economic Development & TDM 425-556-2448
III. DESCRIPTION/BACKGROUND
This staff report is to update City Council on Redmond's participation in two eastside economic development partnership programs - Innovation Triangle and Startup 425. By partnering with neighboring cities with whom we share economic similarities, and by pooling our resources, we can be more affective promoting our region, as well as serving our local business community.
Program: Innovation Triangle
Innovation Triangle is an eastside economic development marketing program with a focus towards recruiting and retaining businesses in the information, communication, and technology sector. The program is a partnership of three eastside cities - Redmond, Bellevue and Kirkland.
Achievements in the 3-years:
* Assembled a partnership of three cities who together create a global center for technology development including over 50 corporate headquarters, 100+ international firms, and a highly educated workforce.
* Established a shared marketing brand, including print and online marketing tools. www.InnovationTriangle.us
* Annually promoted the eastside at four national conferences/tradeshows with a focus on technology and space.
* Hired a lead generation service to curate 25 prospective qualified business leads.
* Provided personalized regional assistance to businesses expanding and relocating on the eastside.
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