City Council approves updated economic development plan
Ken Hira, president of Kosmont Companies, explains to the city council how the Economic Development Opportunities Plan focuses on economic nodes during their meeting on Tuesday. (Photo by Vincent Medina)
NORWALK – The Norwalk City Council approved the update to the Economic Development Opportunities Plan (EDOP) and explained the goals for the plan during their meeting on Tuesday.
The plan aims to revitalize and redefine the city’s economic landscape. It serves as a strategic framework to evaluate Norwalk’s existing demographic landscape and retail market conditions, according to City Manager Jesus M. Gomez.
The EDOP was initially adopted in October 2018, but in the aftermath of the COVID-19 pandemic, the city has collaborated with Kosmont Companies to receive economic insights and adapt its economic strategies.
Ken Hira, president of Kosmont Companies, explained how the EDOP pinpoints “Economic Nodes,” strategic areas encompassing existing and proposed development projects, corridors, and specific sites with potential for growth.
“The plan analyzed the city’s strengths and weaknesses and identified key economic nodes which have evolved over time,” Hira said. “One thing that was started back in 2018 was the updating of the projects within those nodes, the pursuit of economic development tools to help those areas prosper.”
By focusing on these 10 nodes, the city aims to generate economic activity by drawing businesses and residents into synergistic spaces where commerce, culture and community converge.
These areas include Norwalk Transit Village (former California Youth Authority), Historic Front Street, Five Points, the Entertainment District and the former Food 4 Less.
Hira explained that most nodes are already in development, as the council approved projects and encouraged staff to move forward with their economic development efforts during the pandemic.
“Projects like the Transit Village take a long time to come to fruition, but when you have public and private entities working together and collaborating, there’s progress,” Hira said. “If you look at the 10 economic nodes, every node has made progress and has an active project in each one.”
The EDOP update aligns with the City Council’s Strategic Plan for 2023-2025.
Vice Mayor Margarita Rios expressed her gratitude for the community engagement with the EDOP, and city staff for ensuring residents had every opportunity to engage with the plan.
“I always appreciate when our staff keeps an open mind and they’re willing to listen and they expect our input, and we are happy to give it,” Rios said. “I think that it’s been very exciting to see that we’re at this point five years later, where we started with just dialogue and talking about our vision for the city.”
Recognizing the importance of community involvement, outreach meetings were conducted between May and September to ensure the EDOP meets the community’s aspirations.
Councilwoman Jennifer Perez acknowledged criticism from the community that the council needs to be more proactive in developing the city.
“There’s a lot of people that say we haven’t been focused on economic development and we’re not moving in the right direction,” Perez said. “Adopting this plan and seeing where we have come from when we started this plan in 2018, is proof that we are moving forward.”
The Norwalk City Council unanimously approved the updated Economic Development Opportunities Plan.