Title:
Consider and take action on a resolution adopting the Economic Development Strategic Plan (Director of Economic Development)
Background:
Approval of this item will adopt the Economic Development Strategic Plan.
The proposed Economic Development Strategic Plan (Plan), which includes a realistic appraisal of available resources, constraints, and opportunities, establishes a five-year roadmap for sustainable economic growth, a more balanced tax base, and long-term community prosperity. More specifically, the Plan is organized around a Primary Directive, four Strategic Directives, Key Initiatives, Critical Outcomes, and Performance Metrics.
Community-based strategic planning methods were utilized to solicit feedback from nearly 600 citizens and professional stakeholders that provided information that was integral to creating the Plan. Staff analyzed, summarized, categorized, ranked feedback, incorporated feedback from peer reviewers and City Staff, and compared the Plan against top-notch economic development plans to improve and form the final, proposed Plan.
Feedback gathered through the survey process revealed that residents and stakeholders place high importance on quality places to shop, dine, work, live, play, and be entertained; the redevelopment of vacant or blighted areas; a lower and more balanced tax burden; enhanced community amenities; attractive and functional infrastructure; responsible stewardship of natural assets; integrated, mixed-use, walkable lifestyle centers; and the continued elevation of League City’s quality of life.
To ensure accountability and transparency, the Economic Development Department will document progress of the Plan’s implementation quarterly, report progress biannually to the Economic Development Strategic Plan Advisory Committee and City Manager, and annually benchmark progress against our previous performance and five peer communities in the Greater Houston Region. All performance metrics will be used to evaluate progress regarding the Plan’s implementation, identify opportunities for improvement, and inform future decision-making.
At the conclusion of the five-year Plan, Staff envisions that the Economic Development Department will evaluate implementation results and prepare an updated plan for the next five-year cycle.
Attachments:
1. Proposed Resolution
2. Exhibit A - Economic Development Strategic Plan (Proposed Final)
3. PowerPoint Presentation (Final)
FUNDING
{X} NOT APPLICABLE
STRATEGIC PLANNING
{X} Addresses Strategic Planning Critical Success Factor #3 (Financially Sustainable) and #10 (Economic Development and Tourism).