Looking to lick economic wounds

BURBANK — Area business leaders Thursday converged on Woodbury University for an economic summit on trends expected to shape the 21st century, with some projecting far into the future and others focusing on success despite the spiraling economy.

As Burbank and Glendale face uncertainties brought on by the state’s $24.3-billion budget deficit — $3 billion worse than the $21.3-billion estimate Gov. Arnold Schwarzenegger planned for — officials are exploring ways to retain existing businesses and entice emerging industries.

Both cities are mounting efforts to fill vacant office and retail space. The “Buy Glendale” campaign, a proposed online, television and radio campaign, would highlight the city’s promotional events and the assortment of shopping districts. And members of the Burbank City Council, made up of small-business owners and independent contractors, have floated the idea of offering gift cards or credit to shoppers patronizing city businesses.

“The best way to entice, retain and recruit businesses is by keeping a safe and clean city,” said Burbank City Manager Mike Flad, who opened the forum with an abridged state of the city address.

While the cities juggle program cuts, position freezes and service rate hikes in preparation to pass budgets for the 2009-10 fiscal year, demand for services continues to soar. City departments and area nonprofits are experiencing an increase in demand, from library services, to code enforcement, to requests for help with utility bills and meals.

Despite major revenue sources being down in both cities, now is the time to make bold, innovative plans, rather than shrink in the face of a state budget crisis, growing unemployment rate and mounting foreclosures, said keynote speaker James Canton, chief officer and chairman of the Institute for Global Futures, a San Francisco-based think tank that advises business and government on future trends.

His lecture offered a glimpse into a multidimensional world, dominated by emerging technologies released into the public with increasing speed.

“What’s the Burbank 2020 plan look like?” he asked, before envisioning a city bursting with virtual education professors, nanotechnology clothing designers, plentiful broadband and the capability to generate power and sell online to global clients. “What is your vision? This is the future of your city, the future of your region?”