Economic Development Strategic Plan Services

The vendor is required to provide economic development staff to obtain their perspectives on the economic development potential for agency including:
• Top overall economic development priorities including tourism 
• Assessment of downtown development - review of the approved plans including the town center plan and downtown core 2024 and town, as well as other opportunities in this area. 
• Existing targeted sectors with attention to a retail attraction strategy 
• Town’s investment program – toolkit 
• Current services – business attraction, site selection assistance, workforce development, small business assistance, marketing resources and BR&E (contracted through the chamber of commerce) 
• Analyze general infrastructure, including transportation, utilities, and broadband access and identify gaps.
- Final outcome
• Alignment between mayor, council and town leadership as to the major opportunities and challenges confronting town economic development. 
• Alignment as to what the guiding principles of the town’s economic development framework should be. 
• Understanding and consensus about town primary strengths, weaknesses, opportunities and threats (SWOT) that directly impact the town’s economic development competitiveness, and identification of those issues and items that require action in the short-term and long-term.
• A framework for moving forward, including but not limited to:
o Recommended roles and responsibilities for the town’s economic development department and its primary economic development partners.
o Assessment of town current and future employment (office/industrial) attraction potential related to existing and future employment sites
o Assessment of downtown development and redevelopment opportunities.
o Key priorities for town economic development efforts including targeted sectors
o Evaluate the role of the economic development commission
o Alignment and support for the strategic framework with an outline of what resources will be needed from a staffing and budgetary perspective in order to actualize the framework
o Annual action items with timelines for implementation and funding and resource impacts 
- Deliverables 
• Final summary of all discussions and presentation of economic development framework that will guide the development of the town’s economic development action plan and long-term strategies, prepared in written and PowerPoint and presentation format. 
• Firm will present this framework at least two (2) public meetings. 
• A proprietary economic development strategic framework for the town outlining goals and priorities for the next five years in areas including but not limited to targeted industry sectors, business attraction efforts, business retention and expansion, small business development and entrepreneurial support. 
• This framework will include research on major trends locally and nationally that are impacting business decisions. 
• Recommended metrics for assessing progress in achieving objectives. 
• Ten hard copies of the final summary and presentation documents.
- Selected firm will:
• Assess the local economy, including major industries, local and national employment trends, and key sectors.
• Analyze infrastructure, including transportation, utilities, and broadband access. 
• Identify gaps and opportunities in workforce development and talent retention. 
• Study the region’s competitive positioning within the greater metro area (e.g., proximity, collaboration, competition, market overlap). 
• Ensure alignment with regional development goals and economic strategies. 
• Review local housing market, quality of life factors, and amenities.
• Conduct a sectoral analysis to identify emerging and high growth industries (e.g., tech, manufacturing, healthcare, green energy, tourism, logistics, etc.) and evaluate the feasibility of developing these sectors based on market demand, available resources and community interest and values. 
• Benchmark against peer communities and similar metros to identify competitive advantages and identify opportunities for diversification and specialization. 
• Assess town role in the larger metropolitan economic ecosystem.
- Contract Period/Term: 3 years
- Questions/Inquires Deadline: August 4, 2025