Resolution to adopt TIP Strategies, Inc. (TIPs) Sauk County’s Economic Development and Market Analysis Plan - Invest Sauk: Driving Innovation, Building A Resilient Economy and Empowering Business Growth

Committee Status:

Approved

Budget Status:

Budgeted

Decision Impact:

Major

FTE Impact:

Yes

Funding Source:

Other (see budget status)

Purpose

To adopt TIP Strategies, Inc. (TIPs) Sauk County’s Economic Development and Market Analysis Plan - Invest Sauk: Driving Innovation, Building A Resilient Economy and Empowering Business Growth

Background

TIP Strategies, Inc. (TIPs) is a privately held Austin, Texas based firm providing consulting and advisory services to public and private sector clients with core competencies in strategic planning for economic development, talent, organizational development and resiliency planning.

Sauk County contracted with TIPs in June 2023 to conduct a countywide market analysis and economic development study resulting in a prioritized plan for market growth, business expansion and attraction.

The 12-month study has been finalized. INVEST SAUK: Driving Innovation, Building A Resilient Economy and Empowering Business Growth is an economic development strategic plan for Sauk County, Wisconsin. The plan highlights the region’s commitment to fostering innovation, building resilience and focusing on the development of both new and existing businesses. These outcomes seek to leverage the County’s strengths and resources to create a thriving economic environment that benefits all its residents.

INVEST SAUK will stand as the economic development pillar for the concurrent comprehensive Sauk County strategic plan. The Economic Development Committee served as the sponsor for the project.

Resolution Files:

Final Resolution to Adopt Tip Strategies

Budget Status (Other/External Sources):

Implementation of Invest Sauk will begin in Fiscal Year (FY) 2024 under the direction of the County Administrator and Economic Development Director with no 2024 budget impact. Prioritized elements of the plan will be incorporated into upcoming FY budgets, beginning with FY 2025, submitted through the Economic Development Committee for vote by the full Board of Supervisors under current budget parameters.

Resolution Body

THEREFORE, BE IT RESOLVED, that the Sauk County Board of Supervisors, meeting in regular session this 20^th day of August 2024, does herby adopt the Invest Sauk: Driving Innovation, Building A Resilient Economy and Empowering Business Growth plan, as attached.

Approved for presentation to the County Board by the Economic Development Committee, this 22^nd day of July 2024

Consent Agenda Item: [ ] YES [ X ] NO

Fiscal Impact: [ ] None [ X ] Budgeted Expenditure [ ] Not Budgeted

Vote Required: Majority = __X___ 2/3 Majority = _____ 3/4 Majority = ________

The County Board has the legal authority to adopt: Yes ______ No ________ as reviewed by the Corporation Counsel, ___________________________, Date: ________________ .

Offered and passage moved by SAUK COUNTY ECONOMIC DEVELOPMENT COMMITTEE:

_________________________________ £ Aye £ Nay £ Abstain £ Absent

Mark “Smooth” Detter, Chair

_________________________________ £ Aye £ Nay £ Abstain £ Absent

Robert Prosser, Vice Chair