Economic Development Strategic Plan Services

The Vendor is required to provide the 2026 budget for consultant services and is seeking a qualified consultant to develop a comprehensive 5-year Economic Development Strategy Plan which includes a 3-year and 5-year action plan that identifies opportunities to strengthen and diversify the economy; support business growth and retention; enhance workforce development; identify infrastructure needs for growth; and improve overall quality of life within County.
- The 3-year and 5-year action plan should name specific responsible parties(county, partners, etc.), cost estimates for each initiative, potential funding sources (EDA, USDA, state, philanthropy, county, etc.), estimated funding mix, match requirements, application timelines, and competitiveness assessment for these sources.
- Key components for this economic development strategy plan will include an assessment of current economic conditions, identification of opportunities for growth, actionable recommendations with measurable outcomes, implementation architecture, funding and capital strategy, priority project pipeline, site and infrastructure readiness strategy, workforce system design, housing strategy, entrepreneurship and small business ecosystem, regional strategy, marketing and positioning strategy, policy and regulatory recommendations, organizational capacity assessment, risk analysis and constraints, quick wins (first 12-18 months), long term transformation plans (5-10 years), performance management system, community alignment and buy in strategies, equity and inclusion, and data and decision-making tools for county.
- Project Management & Community Engagement:
•    Develop and maintain a detailed project schedule with milestones, deliverables, and decision checkpoints.
•    Conduct regular meetings with staff, project steering committee, and key stakeholders.
•    Provide monthly progress updates, including summaries of engagement findings and preliminary analyses.
•    Design and implement an inclusive public engagement process ensuring participation from business leaders, elected officials, community organizations, residents, and underrepresented groups.
•    Facilitate stakeholder interviews, focus groups, and surveys to gather qualitative and quantitative input.
•    Identify key stakeholders and partner organizations to lead and support implementation of recommended initiatives.
- Data Collection & Market Analysis:
•    Conduct a comprehensive economic baseline assessment, including:
o    Demographics, population trends, and migration patterns
o    Workforce characteristics, skill gaps, and training pipelines
o    Housing availability, affordability, and workforce-related constraints
o    Industry clusters, business base, and entrepreneurship ecosystem
o    Infrastructure (broadband, transportation, utilities, etc.)
o    Quality of life indicators and place making assets
•    Perform a regional and comparative analysis to benchmark strengths, weaknesses, opportunities, and threats (SWOT).
•    Analyze local and regional economic trends, workforce capacity, and target industry sectors.
•    Assess organizational and institutional capacity of the county and partner organizations to implement the strategy.
•    Identify policy, regulator, and zoning barriers that could impact strategy implementation.
- Competitive Positioning & Opportunity Identification:
•    Identify competitive advantages, limitations, and regional opportunities affecting the county’s ability to attract and retain businesses.
•    Recommend priority industry clusters, emerging sectors, and entrepreneurial opportunities for targeted growth, based on feasibility and local assets.
•    Evaluate the county’s entrepreneurship and small business ecosystem, including access to capital, incubators, and mentorship networks.
•    Identify regional collaboration opportunities, including partnerships with neighboring counties and Economic Development Districts.
- Strategic Framework:
•    Develop a vision statement and guiding principles for economic development in County.
•    Recommend strategic goals, objectives, and measurable outcomes for the next 3-5 years, including:
o    Business attraction, retention, and expansion
o    Workforce development, talent attraction, and retention
o    Entrepreneurship and innovation support
o    Place making, housing, and quality of life improvements
o    Infrastructure, real estate, and site readiness
o    Regional coordination and collaboration
o    Policy and regulatory enhancements to enable growth
•    Include equity and inclusion strategies, ensuring underrepresented populations benefit from economic growth.
- Strategic Implementation Plan: 
•    Provide a prioritized action plan with:
o    Detailed project descriptions
o    Responsible parties for implementation
o    Estimated resource requirements and cost ranges
o    Implementation timelines (short-term, medium-term, long-term)
o    Risk assessment and mitigation strategies
•    Identify funding strategies, including potential programs and grants from:
o    Federal sources (EDA, USDA Rural Development, etc.)
o    State economic development agencies
o    Philanthropy or mission-driven capital
o    Local funding opportunities
•    Include a performance management system:
o    Key performance indicators (jobs, wages, business starts, housing units, infrastructure milestones)
o    Reporting structure and evaluation tools for tracking progress
o    Guidelines for strategy updates over time
•    Identify quick wins achievable in 12-18 months and long-term transformation initiatives (5-10 years) to build momentum and ensure sustainability.
•    Provide guidance for community communication and engagement during implementation to maintain stakeholder buy-in.