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Ady <br />Voltedge <br />TM <br />Ind ian R <br />t <br />s <br />Development <br />Toning Analysis <br />May 13. 2014 <br />Task' <br />3. Conduct <br />Competitive <br />Positioning <br />Assessment <br />(How IRC <br />Compares to <br />Competing <br />Communities) <br />Items To Include <br />Review the 'Historical, Comparative Economic Analysis: January <br />2007" report prepared by Policom Corporation to identify trends <br />previously determined for Indian River County and adjacent <br />counties. <br />Benchmark the County s competitive advantages and <br />disadvantages (strengths and weaknesses) in relation to the <br />region from Melbourne and Palm Bay south to and including <br />Martin County (includes Florida s Research Coast), the state, and <br />comparable communities both inside and outside of Florida <br />Consultant would not suggest including these quality of life factors <br />at this point. Investment decisions will be driven primarily by <br />operating costs and operating conditions. Therefore, consultant <br />has removed these from the scope Benchmark community <br />amenities/assets that attract and retain visitors and residents (i.e. <br />potential new hires) such as parks, trails, educational facilities, <br />libraries, recreational centers, restaurants, and hotels. <br />Product <br />Report #2: <br />Summary <br />Comparison <br />report. <br />Report due: <br />October 17Th <br />Consultant routinely conducts an analysis of location criteria for each project consultant undertakes. This <br />is the same process a site selector would take when evaluating a county and/or region. It is an analysis <br />of 50-60 locational criteria where consultant reviews all local material and conduct additional research <br />(e.g., population, labor force, growth, cost of living, wages, crime etc.) ranking the county against the <br />surrounding MSAs, regions, and states. Consultant can include the Policom factors as well as the <br />competitive counties you noted. <br />Following this analysis consultant develops what are called asset maps for business costs and business <br />conditions. Asset maps are a 4 -box table which rates your county on key locational criteria. Importantly, <br />this step also includes input consultant gained from consultant s field research in the previous step. <br />Once the asset maps are completed consultant creates a competitive positioning for your region based <br />on the criteria your county excels at. Other important criteria the county does not excel at is used to <br />identify gaps. <br />Report items resulting from this step include business costs and conditions assets maps, a written <br />community assets analysis (based on 40-50 site selector criteria), and county wide positioning statement <br />and talking points. The report from this task will be completed and provided to the County by October <br />17th, 2014 <br />Gap Analysis: This analysis focuses on organizational capacity infrastructure, ED programs, and <br />related items and is designed to identify areas for improvement to be incorporated into final ED <br />recommendations. <br />Due Date <br />October <br />17, 2014* <br />(Approx. 3 <br />to 4 <br />months <br />after <br />contract <br />execution) <br />$7,000 <br />$6,500 <br />