2024-789-E-Economic Dev-Creative Economic Development Consulting-Department Strategic Plan

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5 The assessment will be supplemented by an education and workforce development input session and targeted questions for employers as part of the business survey. The data and stakeholder engagement will be used to identify the workforce challenges of local industries with a specific focus on industry clusters identified in earlier research. Our team will develop strategies to fill gaps in talent development, retention, and attraction. We will form recommendations for Orange County based on best practices in North Carolina and the U.S. Operations Evaluation and Benchmarking We will include an organizational analysis for Orange County in the strategic planning process. With staff input, we will identify a few communities similar to Orange County then benchmark economic development budget, staff, program, structure, funding, and other items of interest. This information will help us determine if the organization has the capacity to implement the strategic plan or needs to expand capacity. Business Retention and Expansion We will evaluate the business retention program, the most important economic development strategy. The BRE program should include not only target sectors but also at -risk companies and gazelles. Creative EDC has developed numerous BRE strategies centered on supply chain development, talent alignment, data mining, cluster development, and advocacy. We will update the strategy to ensure Orange County is using the latest best practices. Entrepreneurship, Small Business, and Agriculture The program of work of Orange County Economic Development includes services for small businesses such as SizeUp, funding for agriculture certification, and entrepreneur development. We will explore how to enhance these programs, fill gaps, and capture emerging opportunities. Some examples of our work in these areas include supporting an entrepreneur network in Moore County, ag innovation hub study in Southwest Virginia, and a statewide strategy for the Small Business & Technology Development Center. Marketing and Recruitment Strategy Our team will review the marketing and business attraction program of Orange County including brand, website, e-communications, materials, and social media platforms along with outreach such as sales trips, trade shows, and lead generation to determine a marketing strategy for target sectors. Examples could include new target sector marketing briefs, updated competitive position information on the website, and a shift in lead generation and sales outreach. Deliverable: All economic development assessments will be summarized in the appendix and the findings used in the development of goals and strategies. Information from the assessments will be presented to the Project Management Team in milestone meetings. Best Practices Creative EDC is aware of many best practices from across the country through our work with leading EDOs; however, we will also investigate the best practices of EDOs that Orange County considers to be “best in class” peer communities, specifically including those with similar higher educational institutions and industry clusters . Deliverable: Integration of best practices into Orange County’s economic development strategy. Vision, Mission & Strategy Analysis In a workshop with the Project Management Team, the consultant will facilitate the development of vision and mission statements that will guide the vetting and prioritization of potential strategies. The consulting team will develop a set of potential strategies informed by data analysis, engagement, SWOT analysis, economic development program assessments, and best practices. Strategies will be developed with consideration of equity, sustainability, livability, and strengthening partnerships. Docusign Envelope ID: 122863EA-19E8-4E71-8604-98BA2A36EEF0