104-24 Exhibits-Economic Development Counsultant - 2024.pdf

Scope of Work Economic Development Specific Tasks: + 5-Year Economic Development Strategic Plan: * Asacollective team, we will coordinate the preparation of a 5-Year Economic Development Strategic for West Orange. This strategic plan will outline the existing economic conditions of the Township, analyze the issues that West Orange faces. Many of the tasks and responsibilities of the scope will inform this plan: 0 Economic Development Action Plan: As a key part of the 5-Year Plan, our team will prepare a short term (one year) Action Plan. This action plan will propose incremental goals and activities to augment West Orange's economic vitality. These goals and activities shall consist of brief events and easily implementable objectives, such as fairs and festivals to feature local entrepreneurs, ‘pop-up’ events at vacant commercial spaces and ongoing activities that contribute towards the 5-Year Plan. ° Demographic and economic data research and analysis: Using Claritas-Environics Analytics by Spotlight, Census and other sources, we will gather the most recent data regarding housing, demographic and socio-economic status, and workforce data. ° o Establish a database of businesses and major employers in the Township: Steven Martini will be assigned to prepared a comprehensive data of businesses and significant employers in West Orange. Through the development of this database, we will evaluate if there are any clusters of industries within the business community, and further, recommend ancillary businesses that will continue to grow those high performing industry clusters. ° o Business Retention and Expansion: o Our team will utilize the review of the business and employer database, as well as the industry cluster analysis, to determine the economic health of businesses in West Orange. Further, with businesses suffering from financial losses and lack of patrons, we will conduct outreach to assess their needs and weaknesses. For businesses experience success and growth, we will assist in determine appropriate and market-competitive locations for new, larger spaces or satellite establishments. This will be vetted via a thorough site selection and due diligence process. o Attract new business to West Orange: o Based on the analysis and synthesis of the data collected, we will identify recommendations of types of businesses that should be located in

iligence process. o Attract new business to West Orange: o Based on the analysis and synthesis of the data collected, we will identify recommendations of types of businesses that should be located in the Township. * Serve as a liaison for partnerships with the Mayor, Administration, Developers and Investors * We will advise the Mayor and Administration in engaging and maintaining existing partnerships of stakeholders and real estate development professionals, and facilitate new partnerships, and determine strategies to bolster the local workforce and hire locally. * Our teams will recommend the highest and best uses of specific sites, while simultaneously act on behalf of West Orange to ensure that appropriate, attractive, and sustainable development will transpire from these agreements. * We will provide our municipal technical experience network 43