Economic Development Strategic Plan

About the Strategy

The purpose of developing an economic development strategic plan is to build on Lawrence’s previous economic successes, identify top economic development opportunities for the next three-to-five years, prepare the community to respond proactively to the negative effects of the COVID-19 pandemic, and ultimately create an action plan for increasing economic growth and prosperity for Lawrence.

After the completion of the strategic planning process there will be a socialization period where we introduce an initial draft of the strategy to the community and get feedback on how we can make the strategy even more effective and representative of the community’s needs.

Get Involved

We are seeking broad community input that will be incorporated throughout this process.

There are a variety of ways you can share your thoughts and ideas.

Phase 1 Report

We recently completed Phase 1 of the strategic planning process, which focused on understanding the City’s current economic condition. The team examined both quantitative and qualitative data to understand the health of the Lawrence economy. Research included a data analysis of more than 20 economic factors benchmarked against 39 other communities as well as stakeholder input gathered through focus groups, interviews and a public survey.

Phase 1 efforts have culminated in an Economic Overview Report that includes observations on holistic elements of Lawrence’s economy, a SWOT analysis, an in-depth data appendix and display of responses to the community survey to-date. Findings from the Phase 1 Economic Overview report will help in further strengthening the community’s existing assets. It will also help the City and EY prioritize specific areas of Lawrence’s economy during the rest of the strategic planning process.

The Economic Overview Report is available to view here (PDF). Two additional data appendices are also available to view: Data Benchmarking and Survey Results.

Below are three key takeaways identified in the report:

• There is a need to diversify the local tax base. Lawrence’s business community is dominated by educational institutions and retail, which puts a high share of the tax burden on residents. At the same time, residents expect high-quality services and amenities from the City, which often leads to increased taxes and charges for services. This ultimately can make the city less affordable and create challenges sustaining the quality of life expected by residents. Attracting more diverse businesses and private investment can help balance the tax base, make the city more affordable and provide sustainable resources to enhance public services.
• The community wants economic equity for all. Many residents  express a desire to address ethnic and other disparities in the community and promote economic equity. Addressing economic equity can be a foundation of the economic development strategy and can help prioritize actions to make housing more affordable, improve access to education and other critical resources and create more high-wage career paths for young people with different skill sets. This can help ensure that children raised in Lawrence can build a future locally and that everyone can take part in economic progress.
• People love and want to sustain the character and history of Lawrence. People love Lawrence because it is unique — with a rich history, arts and culture, homegrown retail and restaurants and overall character that attracts new residents and keeps the community vibrant. It is critical that efforts to diversify and grow the economy also honor Lawrence’s history, embrace its culture and preserve its natural environment.