BUSINESS WAS NOT IN PLAN BAY AREA 1.0, BUT WILL BE IN 2.0
As Bay Area housing prices continue to rise and transportation networks operate near capacity, regional planners have begun to prepare for the future. Both the business community and regional planners acknowledge we could have done a much better job representing economic and business concerns in the last Plan, and intend to do so in the next iteration. Plan Bay Area 2040 will shape the Bay Area economy over the next 25 years, and the Bay Area Council Economic Institute is working with business leaders to provide regional agencies with strategies that will build economic resilience.
Over the last 10 months, the Economic Institute has engaged business and other regional leaders in a series of roundtable events. Six meetings around the region engaged leaders on innovative practices taking place at the local level. This spring, a series of meetings asked business leaders to identify the top opportunities for the region and the concrete requirements for achieving success. Recommendations addressed housing, infrastructure and governance. Participants proposed ways to change the math of housing production–for instance, through new funding streams and greater certainty around community benefits requirements. Attendees explored options for building infrastructure and using new technologies to manage transportation demand. Participants also recommended a new regional governance structure to better align existing funds and streamline planning for key projects.
The Economic Institute will use these inputs to develop recommendations for regional agencies as they update Plan Bay Area 2040. To engage in our regional economic strategy work, contact Economic Institute Vice President Tracey Grose.