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The City of Freeborn, Ohio Economic Development Strategic Plan December 21, 2012, City of Freeborn Economic Development Plan City of Freeborn Government Center 44 West Hubble Avenue Freeborn, Ohio
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How to fill out economic development strategic plan

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How to fill out an economic development strategic plan:

01
Understand the purpose and goals: Start by gaining a clear understanding of why the economic development strategic plan is being created and what it aims to achieve. This could include goals such as attracting new businesses, increasing job opportunities, or revitalizing a particular area.
02
Conduct a SWOT analysis: Perform a thorough analysis of the strengths, weaknesses, opportunities, and threats related to the local economy. This will help identify key areas that need improvement and potential opportunities to capitalize on.
03
Engage stakeholders: Involve relevant stakeholders, such as local businesses, community organizations, government officials, and residents, in the planning process. Their input and perspectives are valuable for developing a comprehensive and inclusive strategic plan.
04
Set measurable objectives: Establish specific and measurable objectives that align with the overall goals of the economic development plan. These objectives should be realistic and achievable within a designated timeframe.
05
Develop strategies and action plans: Based on the identified goals and objectives, create strategies and action plans to address the various aspects of economic development. This can include initiatives for attracting new businesses, improving infrastructure, fostering entrepreneurship, or developing workforce training programs.
06
Allocate resources: Determine the necessary resources, including financial, human, and technical, needed to implement the strategies and action plans. This may involve budgeting, seeking funding opportunities, and assigning responsibilities to individuals or departments.
07
Monitor and evaluate progress: Regularly review and monitor the progress of the economic development strategic plan. This includes tracking key performance indicators, assessing the effectiveness of implemented strategies, and making necessary adjustments along the way.

Who needs an economic development strategic plan:

01
Local governments: Economic development strategic plans are essential for local governments to guide and prioritize their initiatives and investments in fostering economic growth and prosperity within their jurisdiction.
02
Economic development agencies: Organizations responsible for promoting economic development at a regional or national level benefit from strategic plans that outline clear objectives and strategies for attracting investment, supporting existing businesses, and creating job opportunities.
03
Community organizations: Non-profit organizations focused on economic development can benefit from strategic plans that outline collaborative efforts with various stakeholders to address community needs and cultivate economic vibrancy.
04
Businesses and entrepreneurs: Having access to an economic development strategic plan can help businesses and entrepreneurs understand the direction of economic growth in a specific area, identify potential opportunities, and align their own strategies accordingly.
05
Residents: A clear economic development strategic plan can give residents a better understanding of the local government's vision for economic growth, including initiatives related to job creation, affordable housing, and community development. It helps create a sense of shared goals and promotes community engagement.
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The economic development strategic plan is a roadmap that outlines the goals, objectives, and strategies for promoting economic growth within a specific region or community.
Local governments, economic development agencies, and other organizations responsible for fostering economic development in a particular area are typically required to file an economic development strategic plan.
The economic development strategic plan is typically filled out by gathering data on the current economic situation, identifying strengths, weaknesses, opportunities, and threats, setting goals and objectives, and outlining strategies to achieve them.
The purpose of an economic development strategic plan is to provide a roadmap for promoting economic growth, attracting investments, creating jobs, and improving the overall economic well-being of a community or region.
The information reported on an economic development strategic plan typically includes demographic data, economic indicators, market analysis, workforce development strategies, and a timeline for achieving goals.
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