About Cape Girardeau Area MAGNET’s Economic Development Strategic Plan
The newly reorganized and expanded Cape Girardeau Area MAGNET organization is creating an economic development strategic plan for the County and organization. The strategy will create a unified vision for economic development for the area and will assist MAGNET in defining and optimizing its economic development efforts as it transitions to new leadership. The goals of the strategic planning process are to accelerate economic momentum in the greater Cape Girardeau area and to provide MAGNET guidance in increasing prosperity for all its residents.
The strategic planning process will include the following steps:
- Develop a competitive assessment of the community utilizing qualitative data from the stakeholder input and quantitative data from the economic and demographic scan. This assessment will also include a SWOT (strengths, weaknesses, opportunities and threats) analysis.
- Assemble a diverse group of stakeholders to provide input during the strategic planning process. This will include gathering a group of 20-30 members of the community to form a Steering Committee, seeking community input through an online survey, and conducting interviews and focus groups.
- Create an economic development strategy that provides thoughtful and creative recommendations for topics such as business climate, talent, image and marketing, and more.
The Strategy will include an implementation plan and performance metrics to track the area and MAGNET’s economic success over the next several years.
MAGNET’s strategic planning process began in June 2021 with the assistance of Ernst & Young LLP, Economic Development Advisory Services, which was awarded a contract after a national search. The strategic planning project is scheduled for completion in December 2021, when MAGNET plans to hire a new leadership team.
Check back for key findings from reports, stakeholder engagement, the community survey, and more.
- Community Survey – The community survey is your opportunity to provide input into Cape Girardeau’s economic development priorities. The deadline to complete this 15-minutes survey is September 24, 2021. Thank you for your participation in this important community initiative.
News & Reports
Here you’ll find more information about media coverage of the strategic planning process and reports written by the consulting team. We encourage you to download and read our reports and other documentation, and share this information with friends, family, and colleagues. This section will be updated with more information throughout the strategic planning process.
June 25, 2021 – MAGNET Press Release
June 28, 2021 – MAGNET board expands, plans strategic process.
Jennifer Vernon, Manager
EY Economic Development Advisory Services
Local Project Management Team
Janice Voss, Executive Assistant
Cape Girardeau Are MAGNET
Our Consulting Team
Ernst & Young LLP, Economic Development Advisory Services: The mission and passion of Economic Development Advisory Services (EDAS) is to help communities create more prosperous and equitable economies. We work with states, local governments, economic development organizations, chambers and workforce agencies. Our services include strategic planning, competitive assessments, benchmarking, global market insights and innovative custom solutions. EDAS helps communities create and deploy economic development strategies and practical tools to achieve higher-performing economies that generate opportunities for all of their residents.