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CITY COUNCIL COMMUNICATION AGENDA ITEM 8B SUBJECT:RESOLUTION NO. 36, SERIES 2019 A RESOLUTION APPROVING A BUSINESS ASSISTANCE AGREEMENT WITH MEDTRONIC, INC. FOR AN ECONOMIC DEVELOPMENT PROJECT IN
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01
Identify the economic goals and objectives for development.
02
Conduct a comprehensive analysis of the current economic conditions and resources.
03
Determine the target industries or sectors for development.
04
Develop strategies to attract and retain businesses.
05
Create infrastructure and support systems to facilitate economic growth.
06
Implement marketing and promotional activities to showcase the economic opportunities.
07
Monitor and evaluate the progress of the development plans.
08
Continuously update and adapt the strategies based on changing economic trends and needs.

Who needs for an economic development?

01
Local governments looking to stimulate economic growth and create job opportunities for their residents.
02
Business owners and entrepreneurs seeking new markets and resources for their ventures.
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Investors and financial institutions looking for promising development opportunities.
04
Non-profit organizations focused on community development and poverty alleviation.
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Economic development agencies and professionals who specialize in fostering economic growth.
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Economic development refers to the process by which a nation's standard of living increases through the growth of its economy, including improvements in infrastructure, education, and healthcare.
Entities such as businesses, local governments, and non-profit organizations that engage in economic development activities may be required to file for economic development.
To fill out an application for economic development, you typically need to provide information about your organization, the project scope, financial projections, and any relevant supporting documents.
The purpose of economic development is to enhance the economic well-being of a community or region by creating jobs, fostering innovation, and improving overall quality of life.
Required information may include project details, financial statements, anticipated benefits, workforce plans, and compliance with local and state regulations.
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