The selected firm will interface with the CIC and City Staff to develop and undertake a process to conduct the Economic Development Strategic Planning work. The process should include:

• Research and data collection and analysis, including economic conditions, demographics and market trends, focused on situating Powell within the region;
• Community outreach and engagement with City and area leadership and resources, including but not limited to local officials, business leaders, the broader business community, real estate professionals, developers, other community leaders, related economic development entities at the local and regional level, local and regional institutions, and the community at large.
• Investigate economic development strategies for discussion, review and refinement with the CIC and City leadership and other collaborating participants through an iterative process that will lead to the development of an Economic Development Strategic Plan.
• Initiate a communication strategy through stakeholder engagement.

Concurrently with this Strategy, the City of Powell is also undertaking a comprehensive plan update. These plans and strategies will provide a pathway that we can follow to overcome the diverse and challenging situations we face currently with the improvement economic resiliency and aid in the recovery from COVID-19 losses. The CIC seeks a strategy that will provide guidance and serve as a framework for economic development for several years into the future. The consultant will be coordinating with the comprehensive plan update team to ensure that our land use policies support the targeted industries identified in the Strategy.

Responses should consider the priority objectives listed below. The CIC is open to suggestions other than those items listed.

• Developing a CIC assessment strategy, to include vision, mission, best practices and sustainable funding stream.
• Improving the community's economic resiliency and recovery;
• Expanding the partnership with entities, such as the Olentangy School District, and to help improve the pipeline of talent and develop in-demand skills for our employers;
• Attracting and retaining service-based employment;
• Enhance the growth and development of the downtown;
• Enhance Powell quality of life;
• Promoting economic and environmental sustainability.

The selected firm will document and communicate national, regional and local economic development trends and issues impacting the City; gather business statistics and other relevant data; and develop recommend policies, programs and initiatives that will stimulate economic growth, facilitate appropriate development, redevelopment and improvements to the downtown, aid recruitment and retention of businesses, and support the creation of new jobs and related lifestyle opportunities in the City. Modifications to better meet project objectives may be provided, and will be evaluated as part of reviewing the firm's understanding and proposed approach.

The consultant will be expected to deliver a completed strategy that contains the following desired components. The CIC is open to suggestions other than those items listed. The CIC will finalize the scope of work with the selected consultant prior to contract authorization. Modifications to better meet project objectives may be provided, and will be evaluated as part of reviewing the firm's understanding and proposed approach. Deliverables must be concise and visual:

Evaluation of Current Conditions and Trends

1. An analysis of current economic conditions, demographics, market trends and opportunities, situating Powell within the region. An update to the 2018 Real Estate Market Study and Strategic Recommendations Analysis in the City of Powell, Ohio will need to be completed by a qualified real estate research expert in conjunction with this analysis.
2. An analysis of the City's existing incentive programs; the City's use of existing state and federal programs; develop benchmarks. The future economic development strategic plan will be forward-focused on recommendations for updates to incentive programs, including those needed to attract and retain businesses throughout the City. Analysis of the City's current development tools and policies and effectiveness of those tools and policies; analysis of additional or revised tools and policies that could be leveraged to support desired outcomes;
3. An analysis of development and redevelopment sites that includes data regarding potential for revenue producing activity, focused on the following City business corridors and areas, as also referenced in the 2015 Community Plan; prioritization analysis of these areas;
   1. Downtown TIF District
   2. Sawmill Parkway Corridor
   3. Western Gateway (including the Columbus Zoo and Aquarium)
   4. Seldom Seen Business Corridor
   5. Sawmill Drive Corridor
   6. North Annexation Area
4. An evaluation and recommendations for improvements to project review and approval processes that may support and encourage business investment.
5. A SWOT analysis of the existing economic base(s) and potential future market focuses;
6. An identification of development and redevelopment opportunities within the City with a focus on the downtown and develop a prioritization ranking relating to various evaluation factors. Using GIS and ESRI technology the successful consultant will build a data base of buildings and sites in the community.
7. An analysis of inter-jurisdictional opportunities;
8. Stakeholder and interested party Interviews to gauge interest in the process and potential partnerships for execution.