Friday, July 18, 2025, 10 a.m. (Austin time), Austin City Hall
Committee: Economic Opportunity Committee
0:03 Well, good afternoon everyone.
0:04 Or good morning. It's only 10 o'clock.
0:06 Uh, I dunno. It feels like the afternoon.
0:08 Um, and this is such cozy settings.
0:11 We could, I could <laugh>, I could touch José from here.
0:13 Um, well, welcome to the economic opportunity committee meeting.
0:17 Um, president on the diocese, Council Member Velásquez, uh, and councillor Siegel.
0:21 And participating remotely is, uh, Council Member Harper Madison, and unable to attend, unfortunately, as Mayor Pro Tem,
0:29 uh, Fuentes. But, um, I will call this meeting of the economic opportunity committee to order at 10 0 2,
0:36 uh, am on July 18th, 2025 at Austin City Hall.
0:39 Uh, as a core ms present, uh, the, the first, uh, item of business is public communication, but
0:46 I don't believe we have any speaker signed up to testify.
0:49 So we'll move on to item number one, uh, which is approval of, of, of the minutes from
0:54 the May 16th, 2025 economic opportunity committee meeting.
0:59 Um, do we have a motion to approve item number one?
1:01 Motion by Council Member Velásquez and seconded by Council Member Siegel.
1:06 All in favor say aye.
1:08 Okay. It's passes four oh.
1:11 Item number two will be the briefing on diversity and ethnic chamber alliance regional equity plan.
1:18 Um, so, uh, I believe we have a special guest to do that.
1:22 And that is tina cannon, the president and ceo of the Austin, lgbt chamber of commerce.
1:29 Oh, several special. Yeah.
1:31 Uh, uh, uh, yes, Council Member.
1:33 Um, so they tried to pack us in there yesterday, like sardines, like that.
1:37 And nobody said that we're allowed to move those name tags.
1:40 They're not permanently affixed.
1:42 You guys could spread out <laugh>.
1:44 You don't be silly.
1:45 Wanted to sit right next to each other.
1:46 We like each other.
1:48 <Laugh>. Oh, and also, hi, tina <laugh>.
1:51 Hi, Council Member. Uh, thank, thank you council.
1:55 Uh, uh, as council members re uh, said, I'm tina cannon presidency of the Austin lgbt chamber.
2:00 I'm also here with my colleagues that you'll meet here in a moment for the, uh, the remaining,
2:04 uh, deck of chambers.
2:06 Uh, so we're gonna lay out, uh, a little bit about how, how we've gotten here.
2:09 Uh, a couple of words up front, and then we'll run through the deck and happy to answer
2:12 and feel questions. Feel free to be interrupt as maximus, uh, along the way if there's something that
2:17 you have a burning question about.
2:19 Uh, again. So, uh, thank you for the opportunity to speak.
2:22 Uh, I'm here, joined here today with my colleagues.
2:24 We'll meet in a moment.
2:25 Represent deca, the diversity ethnic chamber alliance, made up of the black, hispanic, asian, and lgbt chambers of
2:30 commerce. Together, we launched a very first of its kind initiative in the united states, the replan or regional
2:37 equity and economic development.
2:39 Each of our organizations brings a legacy of advocacy, community engagement, and cultural competent support for our underserved
2:46 business community. Together we'll leverage our collective strength to ensure that small and micro businesses, particularly those that
2:53 are historically excluded, entrepreneurs have access to resources, training, and opportunities that they need need to thrive.
2:59 Austin, of course, as we know, is an economic powerhouse, but that prosperity has not been evenly distributed.
3:06 While median income for white households is over 104,000 annually, black hispanic households trail significantly by 30 and
3:13 22% respectively. And despite population growth, minority owned businesses account disproportionately small share of the total firm's employees
3:21 and payroll. The reid plan developed through years long collaboration with each of our deca chambers.
3:28 Our distinguished deca advisory board, which we'll learn about in a moment, and our community partners lays out
3:33 a very clear actionable strategy to address this.
3:36 It is ground in three pillars, resilience, equity, and investment, but is more than a mission statement.
3:42 It is a blueprint, some key components, place-based procurement initiative, working with our major employers, uh, to set
3:49 real supplier diversity goals, not just promises.
3:52 We're identifying procurement opportunities, building certification frameworks, and holding companies accountable for clear benchmarks.
3:59 Access to capital. You'll learn more about this in a minute as well, but a little preview.
4:03 We did launch a $1 million deca loan fund for businesses that don't meet traditional underwriting standards, but are
4:09 ready to grow technical capacity building.
4:12 Many of our minority firms are excluded, not due to lack of ideas, but because they lack the
4:17 bandwidth and or mentorship to scale.
4:20 So we are rolling out targeted support, including professional development, mentorship, and industry specific trainings.
4:26 Entrepreneurial pathways. We are supporting aspiring entrepreneurs, helping individuals turn their skills and potential into success.
4:35 Uh, expanding access to ownership to opportunity and economic mobility.
4:39 And of course, workforce housing and childcare.
4:41 We know you cannot build a business, uh, if you don't have, uh, adequate housing and or childcare.
4:47 The replan, of course, supports broader city efforts to create both affordable units in your transit and expand
4:53 childcare availability, both critical to labor participation and entrepreneurial stability.
4:58 And finally, long-term, we'll be calling for the creation of a deca business center for our under-resourced business
5:03 development to serve as a permanent home for these initiative housed within deca and or partnership with one
5:08 of our, our partner organizations.
5:11 So what's exciting about this model is that, uh, we are setting a national standard proof in point
5:18 seattle, washington just launched their very own minority chamber coalition called the wmbc, not a radio station.
5:27 Our work is already shaping national best practices.
5:30 And so we are just getting started as we move to the implementation phase.
5:33 We look forward to continuing our partnership, uh, with our friends at the city of Austin.
5:37 Together we have a shared commitment to building an economy that is not only dynamic and fast growing,
5:41 but inclusive, equitable, and resilient for all of our austinites.
5:45 So thank you for being a part of this important work.
5:47 I'll turn it over to my colleagues to run through the deck and get a little bit more
5:51 detailed. Thank you so much, tina.
5:54 I turn this on.
5:56 Yes. Thank you for having us, uh, members of the council.
5:59 We're so excited to be here with our deca partnership.
6:03 Uh, we're grateful for your leadership and continued support as we work together to advance equitable economic opportunity
6:09 across central texas. Um, if you could take us to the next page.
6:13 As tina mentioned, you know, the diversity ethnic chamber alliance is committed and has a vision to make
6:20 sure that we strengthen minority owned businesses.
6:23 We're gonna talk a little bit about our goals, our regional mo road plan, and our re plan,
6:28 if you'll move us forward to the next page.
6:32 As tina mentioned, we're comprised of the greater Austin hispanic, black asian, and l-g-b-t-q chambers.
6:37 Deca represents thousands of small businesses and entrepreneurs across our region.
6:42 More specifically over 4,000.
6:44 We've come together to address the persistent inequities in economic growth and to ensure prosperity reaches all of
6:50 our communities. We're going to make sure that we, um, do this with a regional lens in mind,
6:59 recognizing that economic opportunity doesn't stop at city boundaries.
7:05 Oh, they gave me the clickers so I can do this.
7:08 Let's do it. All right.
7:10 So let's dive in a little bit more specifically about the regional, um, economic e equity and economic
7:16 development plan. As tinana likes to say, everything is better with acronyms, right?
7:20 Read plan. Um, as mentioned, it is the first of its kind.
7:25 It is, it does not replace existing regional plans, but really compliments them with a focus lens on
7:31 diverse businesses and workforce participation.
7:33 Oftentimes, our communities get brought in, um, you know, at the, at the tail end to represent the
7:40 diversity. And this plan has the intention of making sure we go much further upstream to be part
7:46 of the decision making table, to be part of the data and need surfacing from our communities so
7:52 that we can make the right decisions, um, make sure that we have commitments and follow through in
7:58 our support and collaboration as we work through, um, you know, central texas.
8:04 Um, we, like tina mentioned, have the blueprint and who better to surface that from, uh, from diversity
8:11 communities? Uh, for diversity communities.
8:15 And so our goal really is to align private sector capacity with public needs for inclusive benefit of
8:21 all to integrate excluded communities into the broader economic narrative, and really to have a community led plan
8:31 of economic development under deck of stewardship.
8:35 Let's move to the reed, um, advisory council.
8:41 These folks are leaders across sectors from government and education to real estate and banking.
8:47 Their expertise and lived experience guides our work and ensures accountability.
8:51 It also makes sure that there is, um, little duplication.
8:56 Oftentimes when people are in silos, we create and recreate the same wheel.
9:01 And our intention is to make sure that we surface these subject matter experts to influence and guide
9:07 our work so that we can build upon, so that we can look to scale and inject resources
9:12 to what's already working and perhaps amplify existing good working work models in addition to identifying new ones,
9:22 our deca ceos look at us in our headshots.
9:24 Wonderful. Um, let's move on from here.
9:27 Just to, um, give you an idea that the deca and replant is informed through data.
9:34 We've deployed over 12,000 surveys.
9:36 We've had over 180 focus group participants, of course, the 15 plus advisory council and growing.
9:43 And our collective 4,000 members plus have influenced and had input into our work.
9:50 Our outreach ensures that the re plan reflects real community voices and the diverse needs of our communities.
9:57 Um, at a high level, tina mentioned our focus areas.
10:02 Housing affordability, of course, is key to workforce stability, transportation, equitable access drives, regional growth in small business
10:11 resources and access to capital.
10:12 Our business continue to get a no 60% of them when they ask for capital.
10:18 Our objective and goal is to get a yes and to be able to triage and guide, um,
10:23 the opportunity, uh, respectively with our partners.
10:26 And we're gonna talk a little bit more of the deca loan fund that tina mentioned with over
10:31 a million dollars. It's already fulfilling its objective of giving access to capital.
10:36 And of course, childcare, creative economies and global competitiveness is also part of this strategy.
10:42 Let me say that to be clear, our goals are very specific to foster collaboration between the public
10:50 and private sectors to create more inclusive workforce pipelines and to center community voices in economic planning.
11:03 We do this all with a regional approach, and I am happy to pass this on to our
11:08 sister chamber with mark duvall, um, the greater Austin asian chamber of commerce to talk about that global
11:16 and regional perspective. Yes, passing the power.
11:21 Good morning. Type a personalities that need the power.
11:23 Exactly the button. All I need is the button.
11:25 I don't need the power <laugh>.
11:26 Good morning council. Thanks for having us.
11:28 Uh, we do take this, uh, regional, uh, greater Austin title very seriously.
11:33 Um, and you know, of course we, our focus is on city of Austin, travis county.
11:40 Uh, but we work with cities and stakeholders partners across the, the, uh, the entire greater Austin five
11:45 county region. Uh, for gacc, for example, you know, our, the asian community, uh, pan-asian community, uh, which
11:52 covers many cultures, of course, is pan Austin.
11:55 Uh, it's all over the region, but primarily concentrated in sort of north Austin, northwest Austin, up into
12:01 cedar park and leander round rock, pflugerville.
12:03 But we do prioritize all of our activity across the region.
12:08 Uh, you know, our deck of partners have concentrations in different parts of the city, but we're everywhere.
12:13 And that's really, uh, exciting for us, uh, as a collaboration to be, to be everywhere.
12:19 And, and really that's a key point I'd like you to take away from this.