By
John Arnold For the Journal
SANTA FE — Consultants hired to help
Santa Fe plan for a more prosperous economic future offered two
different observations about their newest client last week. One praised
Santa Fe for its worldly reputation and its rich mix of culture,
art and scenery.
The other described an economically troubled city plagued by a
skyrocketing cost of living, too many low-wage jobs and an aging
work force.
Executives with AngelouEconomics, an Austin consulting firm, were
hired for $95,000 to develop a strategy for attracting new
businesses, helping existing businesses grow and further
cultivating an already lively culture of entrepreneurship.
According to the firm's director, Angelos Angelou, the plan will
aim at building on Santa Fe's strengths, especially its well-known
name and character. "This
city's unique, and any strategy has to fit with the uniqueness of
the city," he said. Consultants
plan to analyze the city's economy, target promising business
sectors and write a five-year economic and marketing strategy. Angelou
said the six-month planning process will include significant input
from the community collected through focus groups, interviews and
surveys. Residents and business owners can fill out online surveys
at the project's Web site, http://www.cultivatesantafe.com/
Angelou said a lack of business diversity is one of several
factors contributing to unfavorable economic conditions in Santa
Fe. He also cited a lack of young blood in the work force. He said
25- to 44-year-olds currently make up less than 30 percent of
Santa Fe's work force. Any figure less than 34 percent, he added,
is not favorable for a dynamic, high-tech economy. Angelo
also stressed the importance of closing the wide gap between
income and the cost of living in Santa Fe, where he said the
median home value is $182,000, compared with a national median
value of $119,600.
