The City of Fayetteville will tonight consider a staff recommendation to hire Fayette County-based Garner Economics, LLC to help the city develop what is being called the Fayetteville 2025 EConomic Development Plan.
The city published a request for bids on the project, and City Manager Ray Gibson reported that six proposals were received. Those responding companies hailed from Texas, Pennsylvania, Florida, and Georgia, and Garner Economics came in as the most expensive but highest rated of the six.
According to a memo Gibson addressed to city council members, the idea of the project is to “determine the best and most reasonable strategies, initiatives, methodologies, and techniques that may be implemented to maximize sustainable economic growth in the City of Fayetteville.
“A successful implementation of the selected plan should result in increased private/corporate capital investment, increase in personal wealth for our local resident population, job creation in appropriate business/industry sectors, and a reduction in commercial displacement and vacancy trends,” Gibson continued. “A successful plan will require an accurate evaluation of the city’s existing development challenges as well as competitive advantages.
“This will be accomplished through several processes, including, but not limited to, a [Strengths, Weaknesses, Opportunities and Threats] Analysis, Competitive/Comparison Communities Analysis, and Target Industry Study,” Gibson wrote.
Garner Economics’ proposed cost is $92,500 plus a maximum of $2,500 in reimbursable expenses. The workgroup scored the company an 80.2 out of a possible 100 points. Serving on the workgroup were Gibson, Fayetteville Director of Community Development Brian Wismer, Fayette County Chamber of Commerce President Carlotta Ungaro, Fayette County Development Authority Business Retention and Expansion Manager Emily Poole, and Fayetteville Assistant City Manager (and Fire Chief) Alan Jones.