The selected vendor will conduct a comprehensive, defensible, and implementation-ready economic development strategy for the agency. The scope of work includes providing a thorough assessment of the agency’s economy through sector and sub-sector employment analysis, national benchmarking, spending flow and revenue leakage analysis, and export versus local-serving industry evaluation.

The vendor will develop a transparent industry scoring and ranking methodology that incorporates job quality, wage metrics, definitions of success, and growth benchmarks. Additional analysis will utilize qualitative data to assess industry strengths, weaknesses, growth factors, hindrances, capital investment, employment projections, and talent alignment. The strategy will translate priorities into actionable steps, including highest and best use analysis, development feasibility, pro forma testing, policy and regulatory recommendations, capital investment prioritization, and organizational capability considerations.

The project will also require modeling fiscal returns and costs for proposed strategies. This includes fiscal impact modeling by industry and development type, assessments of public investment versus anticipated tax yields, and cost-of-service analyses.