06-01-1999 CC RPT 12 - Laserfiche WebLink

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11\ CITY OF RIVERSIDE CITY COUNCIL MEMORANDUM "People Serving People" HONORABLE MAYOR AND CITY COUNCIL DATE: June 1, 1999 ITEM NO.: 12 SUBJECT: Metro Riverside International Trade Center BACKGROUND: At its July 8, 1997 meeting, the Riverside City Council endorsed an International Strategic Plan for the City that was developed by the International City Committee of the Greater Riverside Chambers of Commerce. One of the goals of the plan was to expand international trade and economic development in the greater Riverside area. Recently, the World Trade Center Association of Los Angeles and Long Beach proposed establishing a Metro Riverside International Trade Center (MRITC) in Riverside. This proposal comes at a time when the Mayor's International Cabinet is evaluating the merits of a more regional approach that would include the cities of Corona, Moreno Valley and Riverside, the County of Riverside, and the March Joint Powers Authority. It essentially is the area that Riverside Community College District serves. RCCD assumed a critical leadership role in the creation of the Office of International Affairs and Protocol, which it manages. Staffed by the World Trade Center Association of Los Angeles and Long Beach, the Metro Riverside International Trade Center seeks to increase international trade opportunities for area businesses, promote economic development, and market Metro Riverside as an international center. A summary of goals, services and benefits is attached, as is a list of specific deliverables, an organization chart, and a job description for the director ofthe Center. The MRITC would be funded by a public-private collaboration of public agencies, the Metro Riverside International Cabinet, RCCD, grants, and donations. A budget and list of funding sources is attached. Riverside's share would be $20,000- -$10,000 from the Economic Development Tax Increment Fund and $10,000 from the Economic Development Reserve Fund. The Metro Riverside International Trade Center will interact collaboratively with existing international trade and service organizations, fostering partnerships and increased services to businesses and public entities. It will work closely with the Office of International Affairs and Protocol, which RCCD will continue to manage. The WTCA of Los Angeles and Long Beach is presenting Riverside with a unique opportunity. With 336 offices around the world, the "WTCA" name is recognized and known globally. The Los Angeles and Long Beach WTCA, ranked number one of all World Trade Centers around the world in trade activity, has an excellent reputation and an extensive, worldwide online trade lead system. It manages the Los Angeles International Trade Office and the Long Beach International Trade Office. Last week, it signed an agreement with the City of Santa Ana to establish and manage an international trade office there. By affiliating with WTCA of Los Angeles and Long Beach, Riverside will have access to its experience, trade leads, programs and services. At its May 24, 1999 meeting, the Finance Committee unanimously voted to recommend to the full City Council that it contribute $20,000--$10,000 12-1