After identifying five priorities to support the area’s continued economic growth, the Greater Fargo Moorhead Economic Development Corporation (GFMEDC) has released a five-year strategic plan to address those opportunities.
The plan focuses on talent attraction; career awareness and workforce alignment; advocacy for economic development initiatives; business retention, expansion and attraction; and finally, support of a growing entrepreneurial ecosystem.
Specific actions are listed for each of the five priorities, which will be addressed by the GFMEDC in partnership with local business leaders and educators.
“We are on the cusp of a true renaissance in the FM area. The outside world is starting to understand the power of our region, and our new five-year strategic plan will help guide us through these exciting times,” said Jim Gartin, President of the GFMEDC. “This new plan will be a working, living document. Each one of the five priorities will be driven by a committee, whose responsibility will be to ensure its implementation.”
The strategic planning process was initiated in the spring of 2014. The GFMEDC hired Fourth Economy, a Pittsburg-based consultant, to conduct stakeholder interviews, surveys and cluster analysis.
“Our firm frequently points to GFMEDC and the FM region as a model for public and private engagement,” said Steve McKnight, VP Community & Market Assessments, Fourth Economy Consulting. “Regions across the country can learn a lesson from Fargo-Moorhead – how to create a robust entrepreneurial community, address key challenges and leverage what works. And Fargo works!”
The five priorities:
- Facilitate the attraction of talent to the region
- Encourage the expansion and increase the awareness of technical training, higher education, STEM education and associated career opportunities
- Advance an advocacy agenda and communicate economic impact
- Leverage existing and emerging regional industry base and NDSU Research & Technology Park resources for business retention, expansion and startup
- Continue the development of the region’s entrepreneurial ecosystem
You can access the full report on our website: http://gfmedc.com/about/what-we-do/