In addition to implementing the planning principle in § 1–201(b)(4) of this title, the economy element shall address: the economic base, labor force characteristics, and local economic development opportunities and resources of the county; the categories or types of businesses and industries desired in the county; and the coordination of information about population trends and characteristics, natural resources, community facilities and services, transportation, housing, and land use so that a strategy for the economic well–being of current and new residents of the county can be developed. The economy element shall be informed by the following State plans: the State Workforce Development Plan, as required under the federal Workforce Innovation and Opportunity Act for a 4–year Combined State Plan; and the Maryland State Plan for Postsecondary Education, as described in § 11–105 of the Education Article. The Department of Planning shall: provide a charter county with the best available economic development data from the U.S. Census Bureau; and facilitate, to the extent possible, the provision of data relevant to the preparation of the economic element from other State and federal agencies. The Department of Commerce shall provide a charter county with the best available State–level data on economic development. The Department of Labor shall provide a charter county with the best available State–level data on the labor force. The economy element may include: an assessment of economic sectors to determine whether available jobs align with local labor force characteristics, commuting patterns, and wages paid, and what strategies could improve the existing economic situation; an analysis of existing local economic development programs and tools, and what strategies are needed to foster economic development; an assessment of economic assets, problems, and opportunities of the local economy in a regional context and what strategies are needed to position the local economy in the larger regional context; and an assessment of community redevelopment opportunities and what strategies and programs should be pursued.