As Guelph enters the final year of its existing economic development strategy, Prosperity 2020, City Council has directed staff to develop a forward-looking strategy to support the continued growth and diversification of Guelph’s economic sectors.
Guelph’s economic development strategy from 2020 to 2024, will establish the strategic directions and framework to help guide the City’s economic development priorities, programs and initiatives going forward. It will align with the economic priorities outlined in Guelph’s Strategic Plan to “contribute to a sustainable, creative and smart local economy that is connected to regional and global markets and supports shared prosperity for everyone.”
Phase 1: Economic base analysis and review of Prosperity 2020 (August to November 2019)
During Phase 1, the City worked in partnership with a consultant to conduct an economic base analysis and environmental scan of strategies and policies influencing the local economy, and developed an economic and market outlook to review and assess Guelph’s investment readiness as a result of the activities and achievements associated with Prosperity 2020.
Phase 2: Economic development review, assessment and engagement (December 2019 to February 2020)
During Phase 2, the City will engage with community and business stakeholders, business support agencies, and City Council to collect feedback about Guelph’s economic priorities, as well as the business community’s current challenges, aspirations and opportunities. The information collected in this phase will help to articulate Guelph’s economic development priorities, and will inform and shape a strategy aimed at achieving these goals.
Phase 3: Development and completion of strategy and implementation plan (March to May 2020)
During Phase 3, the City will finalize the new economic development strategy and related implementation plan. This plan will provide a framework and five-year action plan to guide the economic development work of City of Guelph staff. City staff will present a report to City Council in Q2 of 2020 outlining the completed strategy and implementation plan.