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ADDENDUM # 5
RFP # FY 20182019CRA001 ECONOMIC DEVELOPMENT STRATEGIC PLAN
Please ensure you check the Cities website for the latest addendum released for this project. Below find the link
to the Cities
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How to fill out comprehensive economic development strategy
How to fill out comprehensive economic development strategy
01
Start by gathering data and conducting research on the current economic situation in the region.
02
Identify the key industries and sectors that drive the local economy.
03
Analyze the strengths, weaknesses, opportunities, and threats (SWOT analysis) of the region's economic development.
04
Engage with stakeholders such as local businesses, government officials, community leaders, and residents to gather input and perspectives.
05
Establish clear goals and objectives for the economic development strategy.
06
Develop strategies and action plans to address the identified needs and opportunities.
07
Prioritize projects and initiatives based on their potential impact and feasibility.
08
Create a comprehensive implementation plan with timelines, responsible parties, and performance indicators.
09
Monitor and evaluate the progress of the economic development strategy regularly.
10
Adjust the strategy as needed to adapt to changing economic conditions or new opportunities.
11
Continuously communicate and involve the community in the economic development process to ensure transparency and accountability.
Who needs comprehensive economic development strategy?
01
Comprehensive economic development strategies are typically needed by local governments, economic development organizations, and regional planning agencies.
02
These entities are responsible for promoting economic growth and improving the quality of life in their respective regions.
03
The strategy helps them identify the region's strengths, weaknesses, and opportunities, and develop targeted strategies and initiatives to stimulate economic development and attract investments.
04
Additionally, community stakeholders such as local businesses, job seekers, and residents can also benefit from a comprehensive economic development strategy as it creates a roadmap for sustainable growth and prosperity.
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What is comprehensive economic development strategy?
Comprehensive Economic Development Strategy (CEDS) is a plan that guides the economic growth and development of a region.
Who is required to file comprehensive economic development strategy?
Local governments, economic development organizations, and other stakeholders are required to file the CEDS.
How to fill out comprehensive economic development strategy?
CEDS can be filled out by gathering data on the region's economic strengths, weaknesses, opportunities, and threats, and outlining strategic goals and actions.
What is the purpose of comprehensive economic development strategy?
The purpose of the CEDS is to stimulate economic growth, create jobs, and improve the quality of life in the region.
What information must be reported on comprehensive economic development strategy?
Information on the region's demographics, industry sectors, infrastructure, workforce, and economic trends must be reported on the CEDS.
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