Market Street Reports: 2009 Competitive Assessment and 2010 Strategic Action Plan

Starting in 2008, the SBDC began working with Market Street Services, a community and economic development consulting firm based in Atlanta, to assess the Springfield region’s current economic development climate, including its strengths and weaknesses. These initial efforts yielded the Competitive Assessment, Target Cluster Analysis, and later a comprehensive Strategic Action Plan.

Market Street and the SBDC researched Springfield’s business industry targets, used best practices from around the country and gathered the input of local stakeholders to develop goals that address the community’s challenges and ways to capitalize on its assets. The resulting plan was not intended for one organization to implement, but a tool to unify economic and community development organizations, public-private partners, and community institutions behind a consensus blueprint for economic development. The ultimate goal has been to help strengthen Springfield’s competitiveness in attracting and retaining business.

The plan is outlined into four goals:
•    Develop talent by leveraging regional K-12 school systems and higher education institutions to successfully prepare students for the workforce, while also attracting and retaining recent graduates and young professionals.
•    Grow the economy of the Springfield region, continue to focus on job growth, creating a competitive business climate and marketing to external prospects.  
•    Enhance the community by promoting the Springfield region’s abundance of quality of life assets and make it a “community of choice” to live and work.
•    Challenge internal and external perceptions of Springfield, by dispelling myths about Springfield, Missouri, and differentiating it from other Springfield communities across the United States.  

Peer communities who have implemented similar strategic plans include: Montgomery, Ala.; Waco, Texas; and Sioux Falls, South Dakota. The plan is meant as a “living” document that will be re-assessed and adjusted as needed to ensure the Springfield region continues to thrive.

2009 Competitive Assessment

Overview >>
Full Document >>
Target Cluster Analysis >>

2010 Strategic Action Plan

Overview >>
Full Document >>

Contact Information

Phone: 417-862-5567

Springfield Business Development Corporation

202 S. John Q. Hammons Parkway
Springfield, Missouri 65806

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