06-08-09 Special Called City Council/4B La Porte Development Corp meeting approved -

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introduction The economic development environment facing the City of La Porte and other Texas communities has changed significantly over the past twenty years. Economic development was once largely about corporate relocation and expansion, with cost considerations the driving force and the competition almost entirely domestic. Today, while competition from other communities has never been fiercer, there a variety of additional considerations shaping the overall competitive landscape. These factors include, but are not limited to: the influence that quality of place has on economic growth; the emerging role of the "creative class;" the convergence of retail, tourism, entrepreneurship, and industry in economic development planning; and globalization. La Porte has long been a center of commerce and industry, and its bayside location has attracted residents seeking a coastal lifestyle. The desire to refresh the city's appearance, build on its core assets, and continue to increase leisure opportunities inspired this economic development strategy. Local leaders recognize that quality of life is critical to helping local businesses and residents thrive. La Porte is home to many unique assets. Currently, some of those assets are not well linked or leveraged. Better connecting La Porte's historic downtown district, the renaissance of Sylvan Beach, and diversifying residents' leisure and job options can transform La Porte into one of the most desired destinations in the Greater Houston Area. Success is dependent on a well executed planning effort that can be implemented and sustained long into the future. Planning Process Crafting La Porte's economic development strategy involved large-scale community input. Through the course of this project, the consulting team interviewed 42 local leaders and surveyed more than 300 residents. Their input, combined with economic research, formed the platform on which the goals and recommendations in this plan were founded. The six-month planning process began in November 2008. Prior to this document, the consulting team provided city leaders with two reports that form the initial chapters of the strategy: a Community Assessment Report and a SWOT Analysis / Target Audience Report. Both reports were presented to the Steering Committee for review and finalized based on their comments. This final chapter of the strategy contains two sections. The first is a review of the City's community development policies. The second contains La Porte's economic development mission, vision, goals, and strategies. It is accompanied by an implementation calendar, estimated budget, and performance metrics. Forward La Porte Economic Development Strategic Plan I 2009-2013