Almost six years ago, I was selected as the economic development director for the city.
When my tenure began, I had no idea what the journey would be, given that we still had a long way to go in our recovery post General Motors. Although we are currently mired in a pandemic-induced downturn, we are in a better position than the last recession. Over the past six years, the city has completed a tremendous amount of work to attract, diversify and strengthen the economy including:
- 36 development deals, leveraging nearly $250 million in investment, guarantees of almost $120 million in value and nearly 1,200 jobs.
- The lowest unemployment rate in the history of the city, and since the onset of the pandemic, one of the more stable economies in the state.
- Completion of the town square as the centerpiece of our downtown redevelopment.
- First new apartment projects in 13 years, and we are at the cusp of an agreement to redevelop the Monterey Hotel.
Although the pandemic continues to worsen and extend, I am hopeful that we soon will turn the corner, and once we do we have a lot to look forward to as we continue to diversify, grow and prosper as a community.
I encourage everyone to do their part by wearing masks, limiting the spread and maximizing everyone’s opportunity to enjoy life and all this community has to offer when the pandemic is over.