2020 BAILEY STATE OF THE CITY ADDRESS

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We know that challenges require leadership, not just in government, but across stakeholder groups. Everything rises and falls on leadership, and I could not be more confident in the leaders in place across all sectors in our community, especially our City Council, both past and present. Serving alongside each and every one of you has been an honor for me. Our foundations have been greatly aided by our military bases and educational institutions. So, let us recognize our newest leaders in the community: Captain Hembree -Bey, Commanding Officer of the Naval Surface Warfare Center, Brigadier General Coburn, the first female Commander of the 452nd Air Mobility Wing, March Air Reserve Base, Dr. Fehr, the first female President of La Sierra University in its 100 -year history. And of course, with two new Councilwomen, some might argue that 2019 was the year of the woman in Riverside! Well, every year is the year of the woman in my house. Now let me tell you about the three cornerstones that our city must depend on to achieve our goals - Economic Development, Housing and Regional Leadership. In one -word, economic development means money. Money in the form of property and property value, revenue and income, investment and building. Economic development is the potential of a community to grow and employ its residents, to take care of others, to support worthy causes, and to create more wealth for everyone. We have a lot of economic development potential in this region. Here is what Rob Dodman, one of the principals behind the Imperial Hardware Lofts says about the potential of downtown Riverside. <Rob Dodman Video> In 2019, only 10% of the City of Riverside's contracts were awarded to local companies. Just think what foundation we could lay if we kept the millions of dollars a year that leak out of our city HERE in Riverside. What if the city offered stronger local preference policies? What if more local companies bid on city contracts? What if executives primarily purchased products from other businesses here? Instead of investing in property or projects elsewhere. I challenge you to seek investment opportunities right here in your home town. To meet you there, I challenge our City Manager, Al Zelinka, to start up an investment portal, to provide interested parties with quick access to opportunities in Riverside. A report unveiled just last week at city council called, "Poised for Prosperity" — will frame our new economic development action plan. The framework calls for focused attention on enterprise "pollinators" meaning self-financing private businesses, entrepreneurs and partnerships that stimulate local growth in high-priority job areas. Think manufacturing of prototypes in clean and green tech, or intellectual property pollinators operating from the ExCITE Incubator downtown. Page 2 of 9