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HomeMy WebLinkAboutExhibit A CC 7/28/22 - OBSOLETEEconomic Accessibility Initiative [DRAFT] Intro The rapid increase in activity within Miami's technology industry has been an economic boon for the city. Within the past two years, innovation has aided other efforts by the city to buffer the negative effects of the pandemic by providing a quick economic turnaround for the city. The increase in high wage jobs and workers, increased investment deal flow, and large-scale capital investment in Miami has created a new narrative for our city as a place to not only enjoy as a destination but find additional economic alternatives for prosperity. At the national level minorities (76% Black and 62% Hispanic) will be locked out of jobs by 2045 due to the growth of the digital economy. Looking to the future for long term economic growth of the city, it will be imperative that the City of Miami supports accessibility into these new opportunities for long- term residents benefit from new career paths, increased small business support, access to greater entrepreneurship resources, and increased education for our youth to be better prepared for an ever - changing future. Each one of these areas below are areas the City of Miami should bolster to provide citizens with an economic environment they can more fully benefit from. Overall Goal: Create new economic opportunities and ease economic burdens for the citizens of Miami. Implementation Each project will be lead and facilitated by the City of Miami with an identified community partner and/or education/technology partner. All projects will be executed with a focus on Miami citizens in need which will be evaluated on a project -by -project basis. Once the project has been clearly identified education or economic measurements will be used to benchmark and measure against a pre- determined goal to evaluate program effectiveness. Initiative Categories Technical and Non -Technical Career Positions Goal: Close the gap between citizens who are primed for roles in the technology, healthcare, and business/finance industries and the company's best positioned to hire them. Background: The technology industry has become one of the most accessible industries for Miami citizens to consider because of the lack of stringent educational requirements and wide array of jobs that fall outside of traditional programming. With a higher -than -average salary range, high projected industry growth, and positions resistant to growing technology advances, preparing our workforce for careers in technology, healthcare, and business/finance strengthens the city of Miami's economy long term. Approach: Through the development of a candidate repository, matchmaking process, and interactive career fair we can best serve Miami citizens in finding positions that best fit them. Upskilling/Re-skilling Goal: Strengthen alternative pathways for career opportunities within Miami's economy. Background: The City of Miami should prioritize investing in programs that allow employees to more easily advance in their careers using technical skills or allows them to transition into the technology, healthcare, or business/finance industry with a similar but higher paying position. Regardless of what industries become more prominent over the long term, increasing and diversifying the skills of Miami citizens will make the overall city much more resilient to macro -economic changes that could negatively impact citizens in the foreseeable future. Approach: The City of Miami will collaborate with educational and technical partners that provide upskilling or re-skilling services while working with local community partners to make those programs available to Miami citizens that are in need. Small Business Support and Digital Transformation Goal: Enable small businesses to operate more efficiently and become more resilient. Background: As the technology industry begins to play a more central role in the City of Miami there is an increased focus on large corporations and startups that can leverage the additional flow of capital in Miami's economy to grow their operations. When similar growth begins in other cities, small businesses historically miss these benefits because of their inability to compete for this new form of capital. The city of Miami will play the role of legitimizing approaches to business innovation for local business owners within Miami. Approach: The City of Miami will work with local community and economic development organizations to identify small businesses within their communities and bring communication, operation, and financial support in a personalized manner. Internship/Apprenticeship Goal: Provide career experience opportunities for Miami students, who are in financially limited situations. Background: Experience within locally growing industries plays an outsized role in helping candidates receive a job offer beyond school. Internships or apprenticeships offer candidates not only a strong educational foundation but is often the deciding factor in their career progress. Historically, this option has been shut out to lower income individuals because of the work with no expectation of payment for their time. The City of Miami stands to play a larger role in supporting its residents need to participate in great opportunities in industries like healthcare, supply chain, and technology. Approach: The City of Miami will work with students and early -stage students through local education institutions to place them in partner companies while helping to subsidize compensation given to participants. STEM Programs Goal: Support institutions teaching STEM knowledge to students to build the pathway to high wage careers. Background: STEM programs are the foundation for students to gain the technical skill to fast track their participation in the Innovation industry. By increasing resources for these programs and connecting them to other programs further down a student's career the City of Miami can begin to create clear pathways of success for students as they narrow down their career options. Approach: The City of Miami will identify partners to provide offerings to students and program participants seeking to learn more about science and technology. Digital Equity Goal: Increase the level of connectivity and digital literacy within the City of Miami for the economic and personal benefit of citizens. Background: Opportunities into most industries, whether average or high pay, begin with normalizing technology in Miami citizens' homes. This requires increased investment in internet infrastructure for connectivity, hardware for citizens to have a reliable device, and provide digital literacy for families in need. Doing each one of these in turn levels the playing field for lower -income families looking to increase the number of economic opportunities available to them. Approach: The City of Miami will work with partners already offering affordable Internet access to expand their operations to more residents and add education services to cover foundational digital skills and improve quality of life. Diversity and Inclusion Goal: Create an innovation ecosystem that is representative of Miami citizens. Background: Nationally in every area of entrepreneurship and innovation people of color are underrepresented and historically locked out of opportunities in this fast-growing industry. San Fransisco is a representation of this problem in action being an economic powerhouse but lacking diversity within its local innovation economy. Miami is in a unique position to avoid this same problem given its new push to be a nationally recognized tech hub coupled with its naturally diverse local community. Approach: The City of Miami will partner with organizations and institutional programs that are aimed at serving black and brown individuals from historically underserved communities seeking to participate in entrepreneurship, technology careers, and venture capital. Background: [Resolution confirmation]. The following Economic Accessibility Initiative ("EAI") guidelines ensure the accountability and utilization of the program funds meet the intent of [previous Resolution]. Funding allocation is based on Area Median Income (AMI) within each commission district for expected participants seeking to benefit from these programs. Purpose: The purpose of the Economic Accessibility Initiative is to develop a long-term approach to economic growth for the city of Miami that allows citizens to benefit from the economic opportunities the tech industry provides. The City of Miami created the Economic Accessibility Initiative to build clear pathways for Miami citizens to participate in the tech industry or leverage technology in their businesses or day to day lives. This will provide access to Miami citizens in these priority areas: • Technical and non -technical career positions • Upskilling and re-training • Small business support and digital transformation • Internship/Apprenticeship • STEM programs • Digital equity • Diversity and inclusion The expenditure of Economic Accessibility funds allocated under this Initiative shall only be expended to benefit the interest of disadvantaged residents of the City of Miami. Eligible Entities and Organizations: Innovation Accessibility Initiative fund recipients must be an active and registered State of Florida entity: (1) For Profit; (2) Not -for profit organizations {501(3)(c)}; (3) Governmental units; (4) Educational and academic institutions; (5) City of Miami departments, Offices of City Elected Officials, agencies or boards. Additional Program Guidelines and Requirements: • Any organization considered for or selected to receive Innovation Accessibility Initiative funds must comply with any and all local, state and federal laws, rules, regulations, or guidelines associated with the programs funded, and such allocations may be revoked at the sole discretion of the City Commission. • Organization must complete an Innovation Accessibility Initiative funding request form. • EAI programs are subject to funding availability. Allocations over $100,000 are subject to commission approval. • EAI fund recipients will use funds for a program or initiative that reaches a significant number of individuals or significantly impacts Miami's disadvantage communities. • Recipients will be required to enter into a grant agreement with the City of Miami prior to any funding being disbursed. Said agreement shall include program/activity information and language regarding: o Resolution stating who is authorized to execute agreement with City of Miami o Scope of Services including but not limited to number of residents being served, City of Miami District/Location where services are being provided, program focus/priority area, frequency of service, performance measures and any other performance metric deemed relevant to the program priority area o Budget detailing how funding will be utilized to provided services to disadvantaged City/District residents as described in the Scope of Services o Invoicing for activities and services provided and residents assisted or served o Conflict of Interest o Insurance as required by the City of Miami o Any other material terms deem applicable to ensure appropriate use of public funds • If an agreement is not executed in six (6) months from the date of Commission approval, the recipient will be recommended for de -obligation. • The agreement term will end a year following Commission approval. • Recipients will be required to complete an end of program close-out report certifying the services provided, performance metrics and number of people served, location of services and timeline for the provision of API related services. The City, from time to time, will conduct on - site monitoring and/or audits of the API funded program/activity/service. • Funds cannot be used to pay expenditures such as: o Lobbying Activities o Traveling for non -program participants o Meals for non -program participants o Pay bad debt o Defense and prosecution of criminal and civil proceedings o Donations or fund-raising activities o Individual or Personal expenses o Pay same expense charged to other funding source (e.g. CDBG funds) o Sponsorship of events and activities o Any other expenditures deemed ineligible by the City of Miami • Organizations that discriminate based on race, color, sex, religion, national origin, age or disability will not be recommended for funding. Administrative/Indirect expenses cannot exceed 10% of the budget allocation. • The attached Funding Request Form (pages 1-5) must be completed in its entirety and submitted to the Office of Grants Administration before the entity may added to the Commission Agenda for approval.