HomeMy WebLinkAboutAgenda - Economic Development Committee - 08/13/2024
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South Burlington City Strategic Economic Development Plan Brief
Developing a strategic economic development plan will involve hiring a qualified
professional to engage the community in a broad-based study to suggest specific plans
(along with short and long term stakeholder costs) that address the following questions:
What are our natural competitive economic advantages and how best can they be
leveraged for economic growth that supports the recently completed climate action
and comprehensive plans?
What South Burlington businesses add the most sustainable value to the local and
regional economy by providing tax revenue, high quality employment, few negative
environmental consequences and contribute to the sustainability of the economy
and city government?
What are the best metrics to benchmark economic growth and what is a
recommended process for the city to track, support and add new metrics?
What strategies best serve the provision of housing to serve the needs of the City,
local employment and the region?
How can the economic development strategy support the city and region’s
transportation needs?
How does the economic development strategy contribute to the City financial needs
and what are the best ways to insure the financial stability and sustainability of the
City government, including in coordination with public schools and higher
education institutions?
How will the economic development strategy improve the quality of life and overall
population health?
Since achieving economic success in South Burlington must necessarily be
commensurate with regional success, how best can South Burlington coordinate
with neighboring municipalities to achieve mutual goals though such efforts as
improved economies of scale, services and cost reductions?
What is a realistic 5 year implantation roadmap for the economic development
strategy including actionable items and stakeholder roles?