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ORDINANCE NO. 87- 19 An Economic Development Element of the Comprehensive Plan is hereby created and shall read as follows. The Overall Economic Development Plan (OEDP) for Indian River County was adopted in June of 1985 by the Board of County Commissioners. On July 31, 1985, the Economic Development Administration (EDA) designated Indian River County as a title IV Redevelopment Area which qualifies the County to apply for federal funds for economic development projects. At that time, representa- tives from the OEDP Committee along with selected members of the County's Economic Development Committee were chosen to form the Economic Development Council. The Economic Development Council was given the responsibility of coordinating the implementation of the strategies of the OEDP and improving the community's percep- tion of economic development .programs., The Planning Department works directly with the Economic Development Council and OEDP Committee in implementing the strategies in the OEDP, developing economic development projects, and evaluating and revising the OEDP. The Economic Development Element of the Indian River County Comprehensive Plan sets forth the County's policies for economic growth and diversification. This element is based on the objectives set forth in the County's Overall Economic Development Plan as revised through June of 1986. The Economic Development Element is organized into two parts. The first section outlines and analyzes the existing economic conditions and trends within the County. The second section consists of the goals, objectives, and policies which were formulated based on the potentials and constraints within Indian River County's economy. The County realizes that growth in both population and industrial and commercial expansion will accompany economic development, thus the policies/strategies outlined in this element are designated to facilitate the implementation of the goals and objectives. A matrix which outlines the goals, objectives, strategies, and the agency responsible for implemen- tation is also included in section two of the Economic Development Element. This section of the Economic Development Element discusses now important the transportation system is to the County's economy in addition to an analysis of the County's labor force and employment trends. Potentials and constraints for economic development in Indian River County is also outlined. The analysis concludes with a discussion of those regulations which affect economic development and the importance of consistency with the Land Use Element of the Comprehensive Plan. The Transportation system Indian River County is served by both natural and man-made trans - systems. The Atlantic Ocean and the Indian River provide a natural transportation link while the County is connected to the rest of the country by several man-made thorough- fares.