City of Rancho Cordova, CA – Economic Development Strategic Plan

Challenge

Rancho Cordova, California, is well-positioned as a dynamic economic hub in the Sacramento region. The community’s geographic location, diverse workforce, and business-friendly environment have already attracted significant employers in healthcare, insurance, and manufacturing. However, economic and social shifts following the COVID-19 pandemic highlighted the need for a more resilient economy that supports the existing employment base while actively targeting high-paying industries and investments in future-focused technology and innovation. Strengthening and diversifying these sectors by bolstering the local talent pipeline and ensuring residents are equipped with the necessary skills—coupled with ongoing placemaking efforts such as improving transit infrastructure, promoting a diverse mix of property types, and fostering a sense of community—will not only promote economic growth but also ensure long-term stability.

Response

To guide the next three-year phase of its growth, the City of Rancho Cordova engaged TIP Strategies to facilitate an economic development strategic planning process. Work began with an organizational analysis, a scan of Rancho Cordova’s partner network, and priority-setting discussions with the client team. TIP conducted an extensive quantitative analysis which included a baseline of current conditions, a target industry analysis, and a commercial property analysis. This quantitative work was supplemented by a review of the city’s marketing materials and incentives-related policies, and national best practices research. A robust stakeholder engagement process provided insights through one-on-one interviews, sector-specific roundtables, community events, and an online survey. Finally, an 11-member steering committee met regularly with the consulting team, including two workshops, to guide the process and provide feedback on the plan’s three goals and the associated strategies. The business development goal focuses on expanding Rancho Cordova’s employer base, while centering businesses attraction efforts on target industries. The placemaking and real estate goal supports community objectives including development of priority nodes, redevelopment and activation of underutilized spaces, and increasing mobility options. The workforce partnership goal seeks to build regional workforce development partnerships to address talent pipeline challenges and reduce barriers to employment. Approved in November 2024, the plan charts the path for Rancho Cordova to cement its identity as a diverse, forward-looking, and prosperous community through continued investment in target industry development, local talent, and real estate.