ECONOMIC DEVELOPMENT COMMITTEE

1. ECONOMIC DEVELOPMENT COMMITTEE 2004 FIRST QUARTER ACTION PLAN

2. SITUATION ANALYSIS According to the Florida Agency for Workforce Innovation the Jacksonville Metropolitan area unemployment rate fell from 5.5 percent to 5.0 percent, in November 2003, indicating the current economic recovery. What the agency felled to mention was that 90,828 people are still living in poverty in Duval County and that 64,986 households had an income less than $20,000. The unemployment rate of the majority of the low-income earner is 12.8%. These startling figures continue to disproportionately affect the African American community. There is an obvious need for the creation of jobs that pay in $50,000 -$100,000 range for our community. Personal debt and overuse of credit along with the lack of a decent or living wages has denied many African Americans access to home ownership. Home ownership is the beginning of wealth creation; wealth creation will help build stronger individuals and a stronger community. Past inequities affecting African Americans have not been alleviated and should be immediately addressed. African American caterers and other entrepreneurs continue to struggle with getting their fair share of contracts involving city entertainment and recreational facilities. There is a serious and immediate need for a“ fair share” government contracts program for African American businessmen and programs that deliver meaningful and effective technical assistance to disadvantaged businesses. Drugs, high unemployment, high school drop outs, domestic violence, recidivism and the disproportional number of American Americans in our penal system are the economic conditions that are the fundamental causes of Black on Black crimes that plague our neighborhoods. Our neighborhoods continue to be infiltrated with non African American racial groups who set up businesses that overcharge for inferior products and do not offer meaningful employment. Namely, convenient stores, nail salons and liquor stores. The lack of capitalization has stifled the opportunity for start up businesses in the Jacksonville area for African Americans. There is also an obvious need for creative financing within the areas lending institutions. The dollar turns over in the African American community less than one time; and according to the Selig Center in Atlanta, in 1999 African Americans generated $533 billion; current estimates are between $600-700 billon. The other vital statistic is that only 7% of that $533 billion dollars was spent with African American business.

3. STRATEGY EMPLOYMENT The Economic Development committee will review the Jacksonville area industries to ascertain whether African American have an equal opportunity for jobs in all categories; are equally represented on all levels and if there are sufficient job training and apprenticeship programs. The committee will continue to promote a decent living wage that will increase the living standard of the community. NEIGHBORHOOD CRIME he committee will partner with other organization and the police department to identify problem areas to address ways to reduce neighborhood crime and increase employment. The committee along with other organization will review way to reduce domestic violence that put children a risk. HOME OWNERSHIP Real estate acquisition/home ownership will be one of the committee’s top priorities which is a crucial piece to wealth creation. The committee will encourage the committee to strongly consider buying their home instead of renting. The committee will encourage banks and mortgage to introduce creative financing methods to assist with home ownership. CREDIT RATING The committee will also review ways in which families can reduce their debt and avoid paying high loan interest by using traditional lending institutions; review their credit rating and repair deficient credit. The committee will encourage the community to review their spending habits and spend their dollars wisely and support African American businesses and professionals; ie, doctors, lawyers, dentist etc. We will also encourage the community to avoid quick check cashing, payday loans and auto title loans companies as well as other loan companies that charge high interest rates and use banks and credit unions. BUSINESS OPPORTUNITIES The committee will focus on the Mayor’s new Small Disadvantage Business Enterprise Program, which effectively eliminated the Minority Contractors Set-aside program. The committee will investigate ways to create business opportunities in the local communities and also encourage the community to support community based African American businesses. A through review of the2005 Superbowl plans and activities will be conducted to determine how it will affect the African American community and if African American have equal access to business opportunities. Promote and support African American businesses in African American neighborhoods.

4. CREDIT RATING The committee will also review ways in which families can reduce their debt and avoid paying high loan interest by using traditional lending institutions; review their credit rating and repair deficient credit. The committee will encourage the community to review their spending habits and spend their dollars wisely and support African American businesses and professionals; ie, doctors, lawyers, dentist etc. We will also encourage the rates and use banks and credit unions. BUSINESS OPPORTUNITIES The committee will focus on the Mayor’s new Small Disadvantage Business Enterprise Program, which effectively eliminated the Minority Contractors Set-aside program. The committee will investigate ways to create business opportunities in the local communities and also encourage the community to support community based African American businesses

5. Statistical Data and Charts The unemployment rate for blacks surged to 11.8 percent last month. This increase is a full percentage point higher than the previous month -- one of the biggest jumps in the last two decades. That sharp rise was part of the jump in U.S. unemployment that took the overall rate to a nine-year high. The jobless rate went up by 0.3 percentage points in June to hit 6.4 percent. The increase was much higher than the one anticipated by most mainstream analysts, who predicted a moderate rise from 6.1 percent to 6.2 percent. The black unemployment rate is rising twice as fast as the rate for whites, which climbed to 5.5 percent in June from 5.4 percent in May. Reference the Miami Herald

6. Jacksonville 2003 Unemployment Rate

7. GOALS THE ECONOMIC DEVELOPMENT COMMITTEE IS COMMITTED TO ASSISTING THE AFRICAN AMERICAN community TO OBTAIN ECONOMIC EMPOWERMENT THROUGH: • Advocate increased access of African American and other minority communities to credit, capital, and financial services. • Advocate for financial literacy programs for African American and other minorities, and financial technical assistance programs for African American and other minority-owned businesses. • Collaborate with African American and other minority financial institutions to develop an advocacy agenda to support these institutions. • Advocate for the Fair Share and Affirmative action efforts of public and private employers. • Advocate for the development and support of Community Development Financial Institutions (CDFIs) and Community Development Corporations (CDCs) serving African American and other minority communities.

8. FEBRUARY ACTION ASSIGNED TO COMPLETION DATE RESULTS COST Meet with African Amer. Contractors regarding the Mayor’s review board Smith/Wade Done Establish Mayor’s Africa Amer. Advisory Board Smith/Wade 6/1 Meet with Pete Jackson Smith/Wade 5/1 Meet with Michael Kelly Super Bowl Pres. Re opportunities for African Amer. Smith/Wade 5/1 Promote and support the establishment of Black own businesses in Black Wade Neiborhoods NAACP/FCAACC 5/1

9. FEBRUARY CONT’D Meet with fraternities and Sororities to form Black Dollar partnership Smith/ 5/15 Partner with organizations to form Black dollar partnership Wade/Brown 6/1 Talk on 4/28 Meet with JEDC Executive Director and review JEDC& JEDCO programs Wade/Mosley White/Brown 5/15 Survey hospitality industry to see if African Amer. Are represented in policy making executive positions Wade Done Partner with FCAACC and other organizations to identify individuals to own business in the community Wade 4/15 Obtain Business Journal’s Book of List Brown Done

10. MARCH Action Assigned to Complete Date Results Cost Meet with Sheriff regarding neighborhood crime and domestic violence that put children at risk Legal Redress 4/1 Meet with city council economic development committee Smith/Wade/Brown 5/15 Set up meeting 4/28 Identify job training and apprenticeship programs list in newsletter Brown/Mosley 5/15 Announce VA home loan Programs in newsletter Brown/Mosley 5/15 Encourage VA to announce VA loan home program In Black newspapers Brown/White 5/1

11. MARCH CONT’D Advise community of Atlantic States Bank Shelter source May newsletter 6/1 Establish domestic violence prevention awareness program with Jax media Legal Redress 4/30 Obtain FCAACC directory Brown 5/30 Obtain JCVB director Brown 5/30 Meet and partner with FCAACC Black dollar Wade 5/30 Meet with banks, mortgage companies and credit unions to establish creative financing for home ownership Committee 5/30 (Need person)

12. APRIL Action Assigned to Completion Date Results Cost Focus on African American women spending habits Educate youth on Black Dollar And spending habits Partner with organizations Brown/Smith 5/15 To support African Amer. businesses and professional; doctors, lawyers, dentist Meet with NAMC to form Wade 5/15 Partnership Partnership to insure and increase “Fair Share” federal and city contracts for African American Smith/Wade contracting companies 5/15