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THE CHALLENGE
Nestled in the mountains of central Arizona, Prescott combined historic charm with natural beauty, creating unique quality of place that attracted visitors and retirees. With its historic downtown centered around Courthouse Square, outdoor recreation opportunities, and Western heritage, the city enjoyed unrivaled assets as a growing destination. However, while experiencing impressive population growth, this expansion was primarily driven by retirees, creating significant workforce participation imbalances and a striking shortage of younger professionals needed to sustain long-term economic vitality.
THE CIVIC SOLUTION
CivicSol led a comprehensive strategic planning process, assessing Prescott's assets and challenges while convening diverse stakeholders to guide the city's economic future. We conducted competitive assessment, benchmarking Prescott against eight peer communities, and facilitated in-depth interviews with key business leaders, educational partners, City Council members, and the Mayor.
The resulting five-year economic development strategy presents a new paradigm for Prescott's growth that balances development with preservation of the city's distinctive character. The plan focuses on workforce development, strategic investment in high-growth sectors, support for entrepreneurship, enhancement of Prescott's quality of place, and building strong partnerships for sustained growth. By targeting key sectors like aviation, cybersecurity, healthcare, and sustainable advanced manufacturing, the strategy leverages the regional airport and Embry-Riddle Aeronautical University's presence.
THE IMPACT
The strategy positions Prescott to attract innovation while addressing workforce and housing needs, creating a foundation for developing specialized industry clusters in aviation, aerospace, and cybersecurity. By leveraging infrastructure investments and educational partnerships, Prescott can maintain its distinctive character while building the economic foundation needed to attract and retain younger professionals. This approach demonstrates how communities can honor their heritage and quality of place while strategically developing innovation-based economic opportunities that ensure long-term vitality.
"They found the sweet spot between preserving what we love about Prescott and building the economy we need for the next generation."
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