Economic Recovery Advisory Council Principles

Posted: May 19th, 2020 12:18 PM

Last Updated: January 20th, 2021 7:50 PM

  • Equity is the best economic model Business Case for Racial Equity; A Growth Model
  • “Beyond an increase in economic output, advancing racial equity can translate into meaningful increases in consumer spending and federal, state, and local tax revenues, and decreases in social services spending and health-related costs.”
  • Support small- and medium-sized businesses: Small and medium businesses and nonprofits are significant cultural and economic drivers for Oakland. More than 90 percent of Oakland’s businesses have less than 20 employees. Support is needed to sustain businesses and community organizations during the shelter-in-place order and support their return to full operations after the order is lifted.
  • Support local arts and culture: Oakland must sustain the individuals, organizations, and other “place keeper” businesses that contribute to Oakland’s unique character that may not be able to operate per public health guidance.
  • Prioritize residents most impacted by racial disparities: Oakland will prioritize, design, and implement programs and policies to create more equitable and just outcomes for the most vulnerable populations.
  • Support global trade and business: Many Oakland-based businesses depend on access to a supply chain or market that extends beyond the region, as well as tourism. Oakland must consider the recovery of global trade, travel, and impacted sectors, businesses, and workers.
  • Complement Federal and State efforts: Resources for small businesses and vulnerable populations will flow from the Federal and State governments. It is important that Oakland understand the funds, programs, and other stimulus programs and direct local dollars to fill the gaps, particularly for small businesses and vulnerable workers that may not be able to access, or have difficulty accessing, State and Federal resources.
  • Connect Oaklanders to jobs: Work is the foundation to housing and food security, health care, and psychological well-being for individuals and families. Oakland must help connect workers who have been laid-off with employment, with a focus on positions with upward mobility and protecting worker safety.