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<br /> <br />STUDY APPROACH, continued <br /> <br />Step 2 Deliverables: <br /> <br />Description of La Porte's ideal economic mix, listing specific audiences <br />. Written profiles of La Porte's prime target audiences} their preferences} and La Porte's top selling <br />points for each <br />These elements will comprise one chapter of the Economic Development Strategic Plan <br /> <br />STEP 3: CONDUCT SWOT ANALYSIS <br /> <br />Target audience selection will take into consideration the City's strengths} weaknesses} opportunities} <br />and threats. Strengths become the City's selling points and weaknesses the areas to improve upon <br />through community development activities. Opportunities reveal which audiences and strategic <br />advantages that the City may not be currently pursuing. Threats are external forces that could impede the <br />City's economic development efforts and need to be protected against. <br /> <br />Performing this type of SWOT analysis is a standard component of any economic development <br />planning exercise. While these assessments do provide valuable information about past trends} they <br />are most useful when contrasted against the needs of the City's target audiences. The SWOT Analysis <br />and Economic Mix portions of this project go hand-in-hand} and we will work on the two steps <br />simultaneously. The SWOT will help us identify and eliminate potential target audiences. Once the <br />ideal economic mix is established, we will revisit the SWOT, fine tuning it in relation to the specific needs <br />of each audience. Target audiences and the SWOT will drive the recommendations contained in the <br />Strategic Plan. <br /> <br />Step 3 Deliverables: <br /> <br />· Inventory of the City's current assets and challenges based on both qualitative and quantitative <br />research <br />· SWOT graphic and written description of each strength, weakness} opportunity, and threat <br />The SWOT Analysis will be one chapter within the Economic Development Strategic Plan <br /> <br />STEP 4: WRITE ACTION PLAN <br /> <br />Avalanche will write an Action Plan that details the activities of the City of La Porte and other <br />community leaders over the next five years. The Action Plan is the portion of the overall Economic <br />Development Strategic Plan that contains recommendations. It will include the following: <br /> <br />PROPOSAL: ECONOMIC DEVELOPMENT STRATEGIC PLAN FOR THE CITY OF LA PORTE. RFP #08510 <br /> <br />o <br />