City of Fayetteville, AR

09/10/2024 | Press release | Distributed by Public on 09/10/2024 13:40

Economic Vitality Master Plan draft available for review

Sept. 10, 2024

Contact: Marlee Stark
Economic Equity and Mobility Project Manager
Department of Economic Vitality
479-587-7158
[email protected]

Draft of Economic Vitality Master Plan available for public review

FAYETTEVILLE, Ark. - The City of Fayetteville's Economic Vitality Department has posted a draft of its 2024 Economic Vitality Master Plan to the City's website for the public to review and provide feedback.

Between 2021 and 2024, City staff engaged in a strategic planning process to produce the City's 2024 Economic Vitality Master Plan, which will guide the City's economic development work moving forward.

This drafted plan reorients the citywide strategy from focusing on employer attraction (a more traditional economic development approach) to a more balanced suite of activities that foster equitable and sustainable economic growth, a school of thought referred to as economic vitality.

The 2024 Economic Vitality Master Plan is organized around three strategic focus areas:

  • Small Business, Entrepreneurship and Industry. Creating conditions to render small businesses, the creative economy and target industry sectors more resilient to changes in economic conditions.
  • Workforce Development, Employment and Economic Mobility. Advancing equitable, sustainable economic growth by increasing job skill training opportunities, eliminating barriers to economic mobility for historically underserved and underrepresented resident populations, and raising standards of living for all residents through increased employment opportunities within in-demand career pathways.
  • Community Development. Developing and activating neighborhood centers throughout the city, emphasizing the creation and preservation of affordable housing for low- and middle-income residents, as well as community-driven placemaking strategies

This master plan also outlines three new economic development paradigms that will formalize elements of economic vitality work in Fayetteville: high-quality places, equity-oriented workforce systems and stable care networks.

The public is invited to review the draft 2024 Economic Vitality Master Plan and send feedback to Marlee Stark at [email protected] by Monday, Sept. 30.

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