Audit offers leading practices for state’s economic development plan

As Washington works on a strategic economic development plan, it should consider the successful efforts of other states as well as leading practices in the field, a new performance audit recommends. 

The state Department of Commerce is tasked with enhancing and promoting the state’s economy and manages a number of economic development programs to that end. The agency’s Office of Economic Development and Competitiveness is developing a strategic plan to guide its efforts in the future.  

The Office of the Washington State Auditor met with agency managers and staff to gain an understanding of the current performance management mechanisms in place, researched other states’ economic development plans, and identified leading practices for strategic planning and performance management. 

The identified practices fall into four areas: 

1. Establish an economic development strategic plan, including goals and objectives 

2. Monitor progress toward plan goals and objectives, and communicate results to partners and others 

3. Ensure programs align with the strategic plan goals and objectives, and monitor their progress 

4. Include performance provisions in the contracts and grant agreements, and monitor contractors 

“Fostering statewide prosperity is a complex undertaking,” said State Auditor Pat McCarthy. “This performance audit provides a road map to an effective economic development strategic plan for the Department of Commerce. The agency has already committed to developing such a plan, and I believe the leading practices detailed in this report will be valuable.” 

The full report, including detailed recommendations, as well as summary material, can be found on the State Auditor’s Office website. Improving Performance Management in Economic Develpment Programs.

Media questions: Assistant Director of Communications Adam Wilson, Adam.Wilson@sao.wa.gov, 564-999-0799.