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Economic Development Action Plan <br /> ■ Integrates GP, Strategic Plan, Stakeholders comments and economic <br /> development best practices and principles <br /> ■ Developed a menu of actions, strategies, tools consistent with city priorities and <br /> desired outcomes <br /> ❖ Develop Citywide Support for Economic Development <br /> o Re-state ED as a priority and consider strategic plan <br /> amendment <br /> o Create two high level teams (one for predevelopment, one <br /> more staff level to assist through development process) <br /> •'• Data Collection <br /> o (Market Intell►gence for C►tyJ Track business trends including <br /> business starts in key sectors, business losses in key sectors, <br /> company size, geographic location, etc. using business license <br /> tax and newly available GIS information <br /> o (Information to enhance business attraction for site selectors <br /> and businessJ Continue and enhance information available to <br /> site selectors and developers. Identify who has the <br /> information and how to access it quickly. If the information is <br /> not available through the City easily, keep information on <br /> hand about who has this information to purchase. (e.g., <br /> specific market demographics, market areas, etc.) like Nielsen <br /> Claritas and Buxton <br /> •'• Marketing <br /> o Brand the City <br /> ■ Brand the City and its positive business climate <br /> ■ To business <br /> ■ To customers <br /> ■ To residents <br /> ■ To site selectors <br /> o Maximize the impact of events <br /> ■ Look for opportunities to focus events on ongoing <br /> positive impacts to local businesses. Reach out to <br /> businesses to see how events can have the most <br /> positive impact on their businesses. Integrate Best <br /> Practices from other cities and organizations <br /> o Quantify the importance of business revenues to fund City <br /> Services <br /> 9 <br />