An Economic Development Plan sets policy direction for economic well-being and quality of life of a nation, region, or local community.  It identifies strategies, programs and projects to improve the economy.

The scope of services to be provided by Florida International University for the City of North Miami Beach are:

·       Demographic Analysis of North Miami Beach’s population characteristics including, but not limited to, household types, household and family income, population age, etc;

·       Economic Analysis to include labor force, employment by occupation, wages and salaries, small business development etc).

·       Real Estate Analysis (including real estate trends, retails, residential and industrial market; and

·       Provide a plan detailing key policies, strategies and investments to position the City’s businesses and resident workers to benefit from future economic growth and opportunity.

It is anticipated that the project will be completed within 120 days.

The City Manager and the Chief Procurement Officer recommend that the City Commission approve and authorize the City Manager or designee to enter into a professional services agreement with FIU Metropolitan Center for an NMB Economic Development Plan for a total expenditure of $80,000.00.