Moving SOLANO Forward is an ambitious effort to develop a countywide strategic approach to further diversify the economic base of Solano County, which will enable residents and businesses to thrive and prosper. The economic diversification study project builds upon the Shared Economic Framework that emerged from past collaborative efforts to understand and move the economy forward.
The comprehensive analysis of the local economy will be completed by June 2014 and will include an action plan that outlines options on how the public and private entities across the county can further diversify the local economy.
Specifically, the Moving SOLANO Forward Plan will include:
- Market Assessment of Economic Conditions: Includes an economic and demographic profile, an assessment of Travis AFB-related industries, and an analysis of the supply-chain, value-chain relationships.
- Competitive Position of the County: Includes an assessment of the business climate; analysis of the workforce, commute patterns, and existing infrastructure; and cataloging of economic development programs and services.
- Identification of Viable Growth Industry Sectors and Clusters: Includes the selection of up to eight industry sectors and clusters that serves as targeted sectors to be researched fully to determine viability in the county.
- Real Estate Feasibility Analysis: Includes an identification of real estate development prototypes within targeted economic sectors for the purpose of testing financial feasibility and identifying critical constraints to investment.
- Identification of Assets and Gaps: Includes an evaluation of workforce demands; a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis; and an understanding of the relationship between real estate, infrastructure, and economic development.
- Countywide Economic Diversification Plan: The culmination of all of the interim technical analysis, this plan presents various economic diversification strategies, implementation plan and methodology for measuring outcomes.
This comprehensive economic diversification study project is funded by the Department of Defense’s Office of Economic Adjustment.