New Hampshire § 12-O-27 - Section 12-O:27 Content of the Economic Development Strategy and Plan.

§ 12-O-27. Section 12-O:27 Content of the Economic Development Strategy and Plan.

The following, as a minimum, shall be considered in constructing the economic development strategy and plan: I. Consideration of the entire state. II. An analysis, relative to business and industry, of New Hampshire strengths and advantages, and how they will be leveraged; analysis of weaknesses and obstacles, and suggestions on how to remedy or mitigate them; identification of opportunities and how to take advantage and benefit from them; and identification of threats and how to meet and deter them. The analysis, where appropriate, should suggest ownership of its various elements. III. A needs forecast, based on research from both existing and targeted business and industry, that identifies issues and suggested initiatives so as to strengthen New Hampshire as a business and industry destination and to reinforce retention. IV. Identification of economic, demographic, and other trends which may have both short-term and long-term influence on the economy of the state. V. The identification of business sectors that are of strategic importance to the state's economy and to the state's global business image, and development of specific strategies to promote the development of such sectors; and an analysis of new industries that can be targeted in New Hampshire and the rationale for their identification. VI. Identification of how economic development ideas, advice, and information from relevant entities throughout the state will be solicited to strengthen strategies and plans; and how potential partners for the implementation of the strategies and plans, including, without limitation, the United States government, local governments, regional planning commissions, regional economic development corporations, chambers of commerce, business associations, investors, and other relevant entities will be integrated and engaged. Other states should also be studied to build an understanding of best practices that may be emulated. VII. Innovative programs to position and market the state to aid business recruitment and retention. VIII. Economic performance metrics, to include previous years and objectives for the 10 years covered by the plan. Such metrics shall be contained in a state economic dashboard and updated regularly. IX. Inter-department agreements with selected state agencies recognizing their role in economic development strategies, plans, and programs. X. Identification of how the state will petition for and receive moneys, such as grants, to be used for economic development activities. XI. Consideration of how workforce education and training in cooperation with the university system, the community college system, private colleges and universities, and other workforce training organizations will be leveraged and enhanced. XII. Provisions for export growth and how relationships will be fostered with New Hampshire's export-related service providers and with the Commerce Department's International Trade Administration; and provisions to improve the state's image as a destination for foreign business investment and location with overseas entities. XIII. Identification of a division liaison to communicate needs to the general court for the benefit of economic development. XIV. Provision to identify and carry out other economic development activities that the governor or the commissioner may request.