Economic Development Strategic Plan Services

The vendor is required to provide economic development strategic plan that will:
•    Strengthen existing economic sectors while diversifying the economic base 
•    Support local entrepreneurship and innovation 
•    Align land use and infrastructure with business and community needs 
•    Foster economic opportunities for all residents and businesses 
•    Position city competitively within the regional economy
- Requirement:
1. Project initiation
•    Conduct a kickoff meeting with city staff
•    Finalize project goal and objectives, work plan, timeline, key stakeholders, roles and responsibilities, project management tools, potential constraints, communication strategy and decision-making processes.
2. Data collection and market analysis
•    Analyze demographics, labor market, commercial real estate, regional economic development strategies and trends, and city general plan, specific plans and climate action plan
•    Perform a comprehensive economic and demographic analysis that examines city current conditions and trends
•    Benchmark city data against comparable cities
•    Identify underserved neighborhoods and businesses with strong potential for economic revitalization and targeted investment
3. Community visioning and stakeholder engagement
•    Design and implement a comprehensive engagement strategy that ensures inclusive representation from all key stakeholder groups, including:
o    Local businesses, entrepreneurs, landlords, and business associations
o    Residents, workforce development organizations, nonprofit organizations, and educational institutions
o    Government agencies, planning bodies, and elected officials
•    Lead a variety of outreach activities – such as public workshops, surveys, focus groups, and individual interviews – to collect meaningful qualitative input.
4. SWOT analysis
•    Conduct a strengths, weakness, opportunities and threats (SWOT) analysis to provide a foundational assessment of the city’s current economic position and its capacity for sustainable growth
•    Evaluate key economic assets, such as thriving industries, specialized workforce skills, geographic location, infrastructure, tourism, educational assets, quality of life amenities, and innovation hubs
•    Assess regulatory challenges (i.e. permitting inefficiencies and infrastructure gaps), commercial vacancy rates, financial constraints, workforce gaps creating talent shortages, and availability of land
•    Assess potential threats from competitive pressures, economic disruptions, or demographic changes that might require mitigation strategies
•    Benchmark against comparable cities in the region to contextualize findings and identify best practices
•    Compile findings into a comprehensive swot matrix, with supporting visuals and clear strategic implications
5. Strategic vision and goal setting
•    Develop a community-based vision and strategic goals in key areas such as:
o    Business retention and attraction
o    Innovation and entrepreneurship
o    Workforce development and talent pipeline enhancement
o    Economic opportunities for residents and businesses
o    Infrastructure alignment and improvements
6. Implementation plan
•    Define a clear, actionable roadmap for execution with specific steps, timelines, responsible entities, resource requirements, and potential funding sources
•    Establish performance metrics and monitoring framework to ensure accountability
•    Include a communication strategy to keep stakeholders informed and engaged throughout implementation including ways to solicit feedback, celebrate milestones, and maintain transparency with the public
•    Identify a governance structure to coordinate efforts, ensure accountability, and align cross-sector initiatives.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: October 9, 2025