Economic Development Strategic Plan Services

The vendor required to provide Economic Development Strategic Plan that positions the City for sustainable economic growth, diversification, and resilience over the next five (5) years.
- The Strategic Plan must be evidence-based, community-informed, and implementation ready.
- The City’s Strategic Plan, relevant regional and provincial initiatives, and best practices in municipal economic development.
•    Conduct a situational and comparative analysis, including but not limited to the following:
o    Economic baseline: current demographic, labor market, and economic conditions, including trends and key indicators. 
o    Industry and sector analysis: location quotient analysis, growth projections, and value-chain mapping. 
o    Comparator scan: benchmark Peterborough’s competitiveness against similar-sized municipalities.
o    Investment readiness assessment: review of land supply, infrastructure, permitting, and incentives.
•    Perform a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis and identify key economic development challenges and opportunities. 
•    Identify existing assets, gaps, and opportunities across business support, land readiness, infrastructure, innovation capacity, and talent development.
•    Identify key sectors and create sector profiles with targeted strategies for investment attraction, expansion and retention.
•    Develop and implement an inclusive engagement strategy that employs multiple methods, including interviews, focus groups, surveys, public meetings, and online engagement tools. 
•    The Consultant shall document and analyze all engagement activities and demonstrate how stakeholder feedback informed the development of the Plan.
- Stakeholder engagement should gather input from but not limited to the following groups:
•    Local businesses (large employers, Small and Medium-sized Enterprises (SME), start-ups). 
•    Major institutions (post-secondary, hospital, research facilities). 
•    Elected officials (Peterborough City Council, Peterborough MP, Peterborough MPP). 
•    Indigenous communities and organizations. 
•    Sector representatives (e.g., manufacturing, cleantech, agri-food, creative industries, tourism). 
•    Underrepresented groups (youth, newcomers, equity-deserving communities). 
•    Regional partners, chambers, BIAs, and non-profits.
- The Economic Development Strategic Plan will:
•    Define a strategic vision, guiding principles, and economic development goals. 
•    Recommend short-, medium-, and long-term actions with timelines, performance indicators, resource requirements, and responsible leaders. 
•    Include a detailed implementation framework, incorporate measurable Key Performance Indicators (KPIs) and a recommended reporting structure for annual monitoring. 
•    Identify funding tools, partnerships, and delivery models for implementation. 
•    Identify 3-5 immediate priorities achievable within the first twelve (12) months. 
•    Present draft and final versions of the Plan to staff, stakeholders, and City Council.

- Questions/Inquires Deadline: December 8, 2025