REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
July 9, 2024
FROM
DEREK ARMSTRONG, Director, Economic Development Department
SUBJECT
Title
Non-Financial Memorandum of Understanding for the Continuation of International Trade and Investment Cooperation
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RECOMMENDATION(S)
Recommendation
1. Approve the non-financial Memorandum of Understanding, including non-standard terms, with the INCHEON Free Economic Zone Authority of the Republic of Korea for a term of five years, for the continuation of international trade and investment cooperation.
2. Authorize the Chair of the Board of Supervisors, Chief Executive Officer, or Director of Economic Development to execute the Memorandum of Understanding.
3. Direct the Director of Economic Development to submit the Memorandum of Understanding to the Clerk of the Board of Supervisors within 30 days of execution.
(Presenter: Derek Armstrong, Director, 387-4386)
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COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Promote the Countywide Vision.
Create, Maintain and Grow Jobs and Economic Value in the County.
Ensure Development of a Well-Planned, Balanced, and Sustainable County.
FINANCIAL IMPACT
Approval of this item will not result in the use of Discretionary General Funding (Net County Cost) as the Memorandum of Understanding (MOU) is non-financial in nature.
BACKGROUND INFORMATION
San Bernardino County (County) is an increasingly important gateway for international trade and, therefore, potential recipient of foreign direct investment. Led by, and with the support of the Board of Supervisors (Board), the Economic Development Department (ED) has established a trade and investment program to attract foreign direct investment and promote the county as a prime location for investment, setting the groundwork to create new jobs, increase capital availability for local businesses, contribute to higher economic productivity and growth, and increase ...
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