Princeton Economic Development Authority Strategic Plan
The Princeton Economic Development Strategic Plan focuses on four key objectives: 1. Site identification and development for redevelopment, creating a plan to influence development, and establishing a development process aligned with the comprehensive plan. This includes identifying sites, reviewing financial assistance policies, acquiring funding, engaging property owners, determining target businesses, and reviewing development standards for flexibility. 2. Utilizing land use planning to promote job growth and enhance economic health. This involves planning for annexation, identifying industrial land development opportunities, identifying job-generating land uses, analyzing underutilized land areas, and creating strategies for maximizing their potential. 3. Developing a comprehensive marketing and branding strategy to attract businesses and residents. This includes monitoring business-friendly policies, implementing an online permitting process, refining the Business Retention and Expansion Program, monitoring fees, creating a destination environment, promoting partnerships, and supporting the use of natural amenities. 4. Creating infrastructure for life-cycle housing. This involves developing a program for home updates, identifying areas for future housing development, and reviewing the structure for community participation in new housing projects. The plan emphasizes regular review and updates to ensure relevance and continued buy-in from stakeholders.