Agenda - 5-23-16 Budget Work Session

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BK:00025 PG:0556 Exhibit A Lee County Partnership for Economic Development An outline to develop a collaborate partnership for economic development. Purpose of a Partnership for Economic Development The purpose of creating a single entity — a public-private partnership for economic development — is to bring together the many organizations involved with economic development in a collaborative effort to achieve common goals and provide stakeholders with a maximum return on investment. Mission of a Partnership for Economic Development The Lee County Partnership for Economic Development, through its partners and stakeholders, will adopt a broad mission that encompasses the many strategies used to attract new business and grow existing business. In some specific areas, such as streetscape improvements and downtown development, partners like the City of Sanford and Broadway will take the lead since these activities are most often a municipal function. In other cases, such as infrastructure development, the municipalities and County will take the lead. Although the lead agency may change depending on the project, economic development activities will be consistent with the strategic plan and overall vision of the Partnership. For example, downtown development in Sanford supports livability, fosters the recruitment of new business, increases property values, and boosts the tax base. Economic development strategies will include: • Existing business retention and expansion • Small business development and entrepreneurship • Recruitment of new business • Marketing and promotion • Agri -business • Product development • Infrastructure development • Downtown development • Beautification and amenity development • Internal marketing • Retail development • Visitor marketing and development • Retiree recruitment 015