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Item 18ClfVOHHCnREPORT Meeting Date: General Plan Element; General Plan Goal:June 12, 2018, Economic Development Sustain Scottsdale as a tourist destinationACTION Tourism Event Funding Programs, Adopt
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How to fill out economic development element of

01
Begin by conducting research on the economic development goals and priorities of the specific area or region you are focusing on. This will help you understand the needs and opportunities for economic growth.
02
Identify key stakeholders and engage them in the process. This may include representatives from local government, business organizations, community groups, and economic development agencies.
03
Develop a comprehensive plan that outlines the strategies, actions, and initiatives that will be taken to promote economic development. This may include attracting new businesses, supporting existing businesses, fostering innovation, and enhancing infrastructure.
04
Collaborate with relevant partners and organizations to leverage resources and expertise. This could involve forming partnerships with educational institutions, industry associations, and financing institutions.
05
Implement the economic development plan by executing the identified strategies and initiatives. This may involve providing incentives to attract businesses, offering training and support programs, and promoting the area's economic advantages.
06
Monitor and evaluate the progress of the economic development efforts regularly. This will help identify areas of success and areas that may need adjustment or additional support.
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Continuously engage with stakeholders and adapt the economic development plan as needed to address changing economic conditions and emerging opportunities.
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Regularly communicate and promote the economic development efforts to create awareness and generate support from the community and potential investors.

Who needs economic development element of?

01
Local governments: Economic development is important for local governments as it can help boost employment rates, attract investment, and increase tax revenue. It allows them to create a favorable business environment and improve the overall quality of life for residents.
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Business organizations: Economic development is crucial for business organizations as it can provide them with opportunities for growth, access to skilled labor, and favorable market conditions. It helps them expand their operations, increase profitability, and remain competitive.
03
Community groups: Economic development is beneficial for community groups as it can lead to improved infrastructure, increased job opportunities, and enhanced community services. It helps create a vibrant and sustainable local economy.
04
Economic development agencies: Economic development agencies are specifically focused on promoting economic growth and prosperity. They need the economic development element to guide their efforts, attract investment, and support businesses in their area of jurisdiction.
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Individuals: Economic development is important for individuals as it can provide them with better job prospects, increased income levels, and improved living standards. It offers opportunities for education and career advancement, contributing to personal and professional growth.
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Economic development element is a component of a comprehensive plan that focuses on strategies for improving economic conditions within a community.
Local governments and municipalities are typically required to file the economic development element of their comprehensive plan.
The economic development element is filled out by conducting research, gathering data, and engaging with stakeholders to create strategies for economic growth.
The purpose of the economic development element is to guide decision-making and policies that will enhance economic opportunities, attract investment, and promote sustainable growth.
Information such as economic trends, workforce statistics, industry sectors, and development goals must be reported on the economic development element.
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