Agenda

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AI- 2975

Work Session - Economic Development Strategic Plan

Meeting Date:	03/14/2019
Department:	Economic Development
Pillars:	Innovation in Entrepreneurship & Business
Milestones:	Leverage Addison's assets to grow and expand placemaking business programs and events that will set Addison apart to attract talent and businesses

Information

AGENDA CAPTION:

Present and Discuss the Town of Addison's Draft Economic Development Strategic Plan.

BACKGROUND:

In the spring of 2018, City Council approved the hiring of Ady Advantage and Gateway Planning for the development of the Town’s new Economic Development Strategic Plan. The previous plan was adopted in 2010, and all of the goals of that plan have been achieved. Ady Advantage evaluated the community by conducting an in-depth demographic analysis and interviews with local executives, key stakeholders, council members, and residents. Ady Advantage also conducted an online survey to seek feedback from the community as a whole. Their work has been synthesized into the attached draft Economic Development Strategic Plan. Based on demographic information and feedback received, Ady Advantage along with Gateway Planning have developed a set of new goals and tactics as part of their recommendations for the plan.

The consultants will make a formal presentation and request feedback and direction from Council. Following this meeting, the consultants will make the updates recommended by Council. The final plan will be brought back to Council for consideration at a future meeting. Once the plan is adopted, the Economic Development and Tourism Department will begin work on the implementation of the plan’s goals and tactics. These goals and tactics will help provide a roadmap for Addison’s economic growth and prosperity into the future.

RECOMMENDATION:

Information only, no action required.

Attachments
Draft Economic Development Strategic Plan Executive Summary
Draft Economic Development Strategic Plan Report
Draft Economic Development Strategic Plan Appendix