Economic Development Strategy Services

The vendor required to provide economic development strategy (EDS) serves as a unifying and guiding roadmap, providing a clear action plan that supports our local economy as well as the ongoing establishment of a complete community in order to position the town for success.
- Objectives
•    The vision, goals, and objectives for the provision of the town economic development services are aligning with council’s priorities, reflecting the varied needs, interests, and priorities of the community and industries; 
•    Identify both existing key sectors and new emerging ones that the that the town should be strategically pursuing; 
•    Complete a community assessment of the existing assets in the local economy;
•    Based on the assessment, determine the current and future economic priorities of the community, identify opportunities for enhancing the local economy and developing place based economic development initiatives; 
•    Complete a workforce analysis for the town of midland 
•    Complete a comparative scan of similar municipalities to identify areas of opportunity and areas
•    Support local economic competitiveness and vitality with a focus on data analysis, in residential, commercial, and industrial areas within town; 
•    Ensure strategic coordination of the town's economic development initiatives along with the regional economic development services provided by the county.
•    Create prioritized short-term, intermediate, and long-term action items to guide economic community investments in the community;
- Develop recommendations, priorities, and implementation strategies
•    Develop a plan that includes strategies, priorities, KPI’s, and a costed implementation strategy that will support sustainable economic growth of the local economy as well as new and emerging industries through short, medium and long-term initiatives while maximizing community and regional benefits. 
•    These recommendations will highlight the benefits of collaboration in community economic development, economic investment, placemaking, and support the economic growth of the community. 
•    Prioritizing recommendations for a business attraction strategy as part of the overall plan; 
•    Ensuring a mixed approach of BR&E with business attraction initiatives. 
•    Demonstrate the importance of existing local businesses and retention strategies vital to the local economy;
- Council, public, and stakeholder consultation
•    The community, stakeholder groups, council, and staff will be engaged at various stages during the creation of the plan. 
•    Proponents shall outline the tools to be implemented as part of the project’s consultation and engagement. 
•    The proposals must include sufficient time to ensure meaningful engagement and quality feedback. 
•    Identify, consult, and engage with parties involved by organizing and facilitating in-person and virtual meetings and other engagement activities.