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Economic Develor)ment Plan <br />The following implementation strategies will be used to carry out the Economic <br />Development Plan. <br />ECONOMIC DEVELOPMENT PLAN (CHAPTER 6) <br />IMPLEMENTATION STRATEGIES <br />No. <br />DescriptionTiming <br />........................... __........ .................... .......... _. ............ _ . <br />Strategic Plan. Update long-term strategic plan for economic <br />1 <br />On-going <br />development within the City. <br />2 <br />SWOT Analysis. Continue to identify strengths, weaknesses, <br />On-going <br />opportunities and threats to business retention and development. <br />3 <br />Survey Business Owners. Conduct an outreach survey to <br />Short <br />business owners to identify barriers and opportunities. <br />4 <br />Identify Target Business Market. Identify the desirable <br />Short <br />businesses using the SWOT analysis and survey results. <br />5 <br />Market Hugo. Prepare and implement a marketing plan to attract <br />Short <br />and retain desirable businesses in Hugo. Collaborate with <br />business associations and neighboring communities on a regional <br />strategy. <br />6 <br />Incentives Policy. Create a policy for the use of financial Short <br />incentives within the City. <br />