Cambridge Economic Development Strategic Plan
In early 2009 the City launched an effort to develop an Economic Strategy. The objective of this strategic plan is to help the citizens of Cambridge position the city to focus on what it wants to be in the future.
The plan shall guide the City's activities for the next five years and generate positive economic outcomes into economic perpetuity.
This effort will produce a Year One Action Plan that provides specific guidance to the City's economic development community. This Year One Action Plan shall have as its overarching purpose the development of the identified priority projects.
Scope of Work
- A community assessment of Cambridge that includes: analysis of the strengths and weaknesses of its socioeconomic factors; Cambridge's standing within the region as both a competitor and a model; Cambridge's comparability with cities of similar size;
- Cambridge's potential and unique opportunities;
- An industry sector analysis that identifies favorable growth industries that meet the needs of Cambridge residents, and recommended methods to stimulate such growth such as business recruitment strategies;
- Content for a five year Economic Development Strategic Plan that includes an identification of priority projects and a one year Action Plan that outlines responsibilities for Economic Development staff;
- Identify new and existing marketing methods to promote new development; and
- An impact analysis of the factors that influence the City's ability to attract both business and people.
In today's economic development context, there is a growing confluence between quality of life and economic progress. Cambridge strives to offer the highest quality of life to attract the best, brightest, most innovative and most hard-working people.
Cambridge Comprehensive Plan Update
In 2008 the City of Cambridge began the process of updating the 1996 Comprehensive Plan. The goal is that the plan will create/instill a Community Vision among the citizens, planners, and city officials for the physical, business, and artistic growth of Cambridge, a city which has experienced a significant influx of new residents in recent years. The Plan shall set forth a series of goals for the realization of this Vision that all working for the future prosperity of Cambridge.
To read more about the Comprehensive Plan click here.