City seeks assistance in developing a new 5-year Economic Development Plan (EDP) that supports and advances its economic well-being and quality of life. The City's most recent plan should be considered, but this work is not to be considered an update to it. A fresh perspective that involves innovative thinking/approaches toward economic development planning is desired. The work is divided into two primary tasks:

Task 1: Community Assessment

• Prepare a comprehensive review of the city's current economic conditions that includes, but is not limited to, the following items:
• Its economic base
• Industry cluster assessment
• Competitive assessment and SWOT analysis
• Analysis of demographics and psychographics
• City programs, plans, and developments that have occurred during the last 5 years as they relate to the city's future
• Analysis of economic activity levels/trends for micro businesses /entrepreneurs; women-owned businesses; minority-owned businesses
• Inventory/analysis of existing and planned economic development assets and related programs (e.g., wayfinding/placemaking, public art)

Task 2: Economic Development Strategy

• Prepare a recommended economic development strategy for the next 5 years with associated goals, objectives, and actions. The recommended actions should be specific and measurable, include key performance indicators (KPIs) and benchmarked. Where appropriate and possible, anticipated financial impacts (costs and funding sources) should be identified. It should also include recommendation(s) on how best to realize additional revitalization of areas near the proposed Historic Miramar Innovation & Technology Hub project (e.g., Miramar Parkway commercial corridor from SR 7 to SW 64th Av.).

Identify your proposed approach/methodology to plan development including tasks/timeframes/costs. Provide examples of economic development plans completed for comparably sized communities. Produce a plan document that is organized and formatted for easy reading/reference that minimizes narratives and can be updated by the city as needed.