Specifications include, but are not limited to: The selected consultant will conduct an Economic Development Market Analysis and develop an Action Plan Matrix to support the City of Sanford’s efforts identifying emerging opportunities in economic development. The Market Analysis and Action Plan Matrix will: 1) Analyze, evaluate, and address socioeconomic conditions, existing and future lifestyle trends, local and regional market strengths, weaknesses, opportunities, and threats; 2) Engage with community officials and business owners to gain input on local conditions and needs; 3) Develop a greater understanding of targeted sectors and subsectors that offer opportunities which Sanford has an advantage and opportunity to leverage; 4) Evaluate the economic trends, market leakage, and potential absorption within identified sectors; 5) Analyze Sanford’s current and projected workforce needs; 6) Evaluate the availability and competitiveness of key sites in Sanford; 7) Develop recommendations for downtown revitalization that align with and build upon the upcoming municipal infrastructure investments; 8) Provide a sound basis for small business plans of companies looking to open and/or relocate in Sanford to aid in financing and grant applications; 9) Review local policies and practices in support of economic development and recommend short-term and long-term improvements as appropriate; and, 10) Analyze Sanford’s residential market and housing policies to provide recommendations that help ensure appropriate housing to support a robust and diverse workforce.
