Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
City outlines plan to tighten economic-development reporting and considers GNRC for strategic plan work
Summary
Staff proposed a more structured approach to economic development reporting, increased accountability with the Chamber of Commerce and potential use of the Greater Nashville Regional Council to integrate local plans into a municipal strategy.
City staff presented an update on economic development activity and proposed a more structured reporting and accountability framework during the Jan. 9 workshop.
Staff recommended a balanced approach between city staff, the Chamber of Commerce and outside consultants for economic development work. The Chamber would provide quarterly metrics and track solicitations and requests for information; staff said it will continue to serve as a primary contact for prospects and use commercial data tools (Placer.ai) for site and demographic analysis. Staff proposed contracting with the Greater Nashville Regional Council (GNRC) to integrate existing plans — including the city’s destination and Main Street strategies and nearby regional plans — into a consolidated economic-development strategy. GNRC staff indicated they could perform that work, and staff said a fee for the service is likely in addition to GNRC membership.
Staff showed examples of data products (Placer.ai traffic and trade-area analytics) and industry trends used to support recruitment and strategy. Staff said they will develop a quarterly economic-development report with key performance indicators and asked council to identify which metrics they want reported. The proposal includes continuing monthly operational coordination between the Chamber and city staff and exploring consultant qualifications if specialized services are required.
