Economic Development Plan

Overview - City of Madison Economic Development Plan

The City of Madison is in the process of creating an Economic Development Strategy to guide the actions and investments of the Economic Development Division for the next five years and support residents and businesses. The goal of this project is to promote people-centered economic development. Our team is shifting economic development thinking and practices to prioritizing community member needs and creating a more inclusive and sustainable vision for shared prosperity.

The City of Madison has partnered with two firms to undertake this project:

Fourth Economy Consulting, Inc. - a national community and economic development consultancy helping communities and organizations create strategic, equitable, and resilient futures. Fourth Economy is leading data analysis and strategy development and supporting engagement
EQT By Design - a Madison-based strategic advising consultancy, focused on equity-centered engagement, strategic planning, change management, and organizational culture design. EQT By Design is leading community engagement and supporting strategy development

Key Objectives

Transform economic development through community-centered planning and measurable impact
Assess current economic landscape and develop future vision
Evaluate and optimize City's role and existing programs
Create actionable implementation guidelines and strategies
Develop comprehensive 5-year Economic Development Work Plan and Budget
Align initiatives with City's Comprehensive Plan

Stay Connected and Engaged!

Engagement opportunities will be posted here throughout the duration of the Economic Development Strategy process. We invite you to participate in ways to transform our approach to economic development. This project aims to create a more inclusive and sustainable economic future by putting community members' needs at the forefront.

December 11, 2025 - Public Workshop

The City of Madison, in partnership with EQT By Design and 4th Economy, held a public workshop to engage community members in shaping the city's economic development plan.

This virtual event took place on December 11, 2025, from 5:00pm to 7:00pm via Zoom.

After months of collaboration with community members, city staff, and advisors, the Economic Development Division and partners EQT by Design, shared ideas and gathered insights that will directly inform our economic development priorities. These ideas represent a significant shift in approach, centering community needs and perspectives in building an inclusive and sustainable economic vision for Madison's future.

The interactive workshop provided attendees with:

Updates on ideas that will inform the economic development plan strategies
Opportunities to provide input on priorities for Madison's economic future
Ability to engage with city officials and planning consultants

Feedback gathered will contribute to a comprehensive 5-year Economic Development Work Plan that addresses four key areas:

Improving Economic Mobility and Building Generational Wealth
Empowering Madison's Workforce
Supporting Local Capital Circulation and Small Businesses
Investing in Existing and Emerging Industries to Create Good Jobs

Thank you for helping us build a stronger, more inclusive economic future for our community!

Learn More about the City of Madison Economic Development Plan!

Past Economic Development Strategies

2016 CONNECT MADISON Strategy

The CONNECT MADISON Strategy was developed in 2016 as the City's Madison's Economic Development Plan. The Strategy is the culmination of a two-year effort that engaged hundreds of community members in a conversation about the future of our economy and the City's economic development priorities.

CONNECT MADISON identifies five broad strategies to build a stronger and more inclusive Madison economy. Each of these strategies includes a "Priority 1 Project" that the City will pursue over the next five years. These projects and strategies are rooted in a deep analysis of economic data, shaped by input from the community, and guided by the leadership of Madison's Economic Development Committee.