Strategic Economic Development Plan

STRATEGIC ECONOMIC DEVELOPMENT PLAN

Independence, OH

Randall Gross / Development Economics (RGDE) recently completed work on an economic development strategy for Independence, a suburban area of Cleveland. The community had never completed any plans prior to this one, so an important component of the process was to educate the community on the importance of strategic planning through workshops, interviews and other stakeholder outreach. Independence has been a primary suburban office and commercial node for northeast Ohio, but its office space is aging and there is a need for the city to remain competitive in an economically-stagnant region. Ohio cities like Independence are highly dependent on local income tax revenue, so the loss of major employers would have a detrimental impact on the city’s overall fiscal health as well as its economic prosperity. Mr. Gross determined the city’s competitive advantages and economic development targets, assessed its real estate, and devised a strategy for marketing, development and implementation as leader of a multi-firm consulting team.