Silverlode conducted a community assessment and developed an economic development strategic plan for a rural town in Colorado.
The Town of Wellington was in the process of conducting a community assessment through the Office of Economic Development and International Trade and sought to hire a consultant to develop a corresponding economic development plan for the Town. The Town’s economic development program was in its infancy.
Silverlode reviewed existing studies and initiatives and assessed Wellington’s marketing materials, structure, website, and regional and state economic development resources. Silverlode conducted an in-depth analysis of location factors related to Wellington and the surrounding market, a target industry analysis, and a SWOT analysis. Silverlode recommended the Town concentrate on three industries for attraction. We provided a strategic plan with 14 recommendations, 68 action steps, and dozens of sub-action steps. The recommendations were designed to leverage the Town’s limited resources for realistic and transformative change. The plan provided fundamental steps to guide the Town through its creation of an economic development program, guidance for positioning itself within the regional ecosystem, and suggestions for creating an identity.