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COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY 2013 John Gotcha, P.E., Executive Director Rachel McCartney, Program Manager, Community Development www.eastgatecog.org This report was financed by the

How to fill out comprehensive economic development strategy

How to fill out a comprehensive economic development strategy:

1. Identify the purpose: Understand the main objectives and goals of the economic development strategy. This may include promoting job creation, attracting investment, fostering entrepreneurship, or revitalizing specific industries or regions.
2. Conduct a SWOT analysis: Evaluate the strengths, weaknesses, opportunities, and threats related to the economic development of the area. This analysis helps identify areas of improvement and potential challenges that need to be addressed.
3. Define target sectors: Determine the key industries or sectors that have the potential for growth and development. Consider the region's existing strengths, available resources, and market demand to select sectors that align with the overall goals.
4. Engage stakeholders: Collaborate with various stakeholders such as government agencies, business associations, community organizations, and educational institutions. Seek their input and involvement in the strategy development process, as their perspectives and expertise can contribute valuable insights.
5. Assess infrastructure and resources: Evaluate the existing infrastructure, including transportation, utilities, and educational institutions. Identify any gaps or deficiencies that hinder economic development and formulate strategies to address them.
6. Develop action plans: Formulate specific action plans and initiatives to achieve the economic development goals. These plans should outline the steps, timelines, responsible parties, and necessary resources required for implementation.
7. Implement monitoring and evaluation mechanisms: Establish a system to monitor the progress of the economic development strategy and evaluate its effectiveness. Regularly review and adjust the strategy as needed to ensure it remains aligned with changing economic conditions and priorities.

Who needs a comprehensive economic development strategy:

1. Local governments: Comprehensive economic development strategies are crucial for local governments to plan and guide economic growth and development in their communities. It helps them make informed decisions and allocate resources effectively.
2. Economic development agencies: Organizations or agencies tasked with promoting economic development at regional or national levels rely on comprehensive economic development strategies to align their efforts and interventions with the broader development objectives.
3. Businesses and entrepreneurs: A comprehensive economic development strategy provides valuable information on the direction and focus of economic growth. Businesses and entrepreneurs can utilize this information to identify opportunities, adapt their strategies, and make informed investment decisions.
4. Community organizations: Community organizations play a vital role in supporting economic development initiatives. A comprehensive economic development strategy helps them understand the development priorities, collaborate with relevant stakeholders, and contribute to the overall growth of the community.
5. Educational institutions: Educational institutions can benefit from a comprehensive economic development strategy by aligning their programs and curricula with the identified target sectors. It helps them prepare students for the job market and meet the demand for skilled workers in specific industries.

Overall, a comprehensive economic development strategy is essential for various stakeholders involved in shaping economic growth and improving the overall well-being of a region or community.

For pdfFiller’s FAQs

What is comprehensive economic development strategy?

Comprehensive economic development strategy is a plan that outlines the economic development goals and objectives for a region.

Who is required to file comprehensive economic development strategy?

Local governments, economic development organizations, and other stakeholders are required to file comprehensive economic development strategy.

How to fill out comprehensive economic development strategy?

Comprehensive economic development strategy can be filled out by gathering data, conducting analysis, setting goals, and outlining strategies.

What is the purpose of comprehensive economic development strategy?

The purpose of comprehensive economic development strategy is to guide economic development activities and investments in a region.

What information must be reported on comprehensive economic development strategy?

Information such as demographic data, industry trends, workforce statistics, and infrastructure needs must be reported on comprehensive economic development strategy.

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