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CEDS – Community Economic Development Strategy Planning for Economic Development Activity in the CSRA November 20, 2006 Planning for Economic Activity I. II. III. IV. V. CEDS – Definition CEDS Components Requirements Strategy Committee Planning Schedule CEDS Definition • What is a CEDS? – A CEDS is a comprehensive planning document that guides regional economic development activities and is a requirement for receiving Federal funding through the Economic Development Administration (EDA). CEDS Components Section 1 – Background Background – paints a realistic picture of the current condition of the region 1. – – – – Economy Population Geography Workforce Development and Use – – – – Transportation Access Resources Environment Other Issues Section 2 - Analysis 2. Analysis of Economic Development Problems and Opportunities – – – – Strengths & Weaknesses Problems & Opportunities Identify past, present, & future economic development investment strategies Identify & analyze economic clusters within the region (new) What’s an Economic Cluster? • A cluster is a geographic concentration of competitive firms in related industries that do business with each other. Each cluster includes companies selling primarily outside the region, as well as support firms supplying raw materials, components and business services. These groups of companies that compete or interact with each other are more important to the region's well being than any single, isolated firm no matter how strong or influential it may be. Section 3 – Goals & Objectives 3. Goals & Objectives – Defining Regional Expectations – Goals are broad, primary regional expectations – Objectives are more specific than goals, clearly measurable, and realistic considering a 5-year time frame Section 4 – Community & Private Sector Participation 4. Community & Private Sector Participation (New) – Must discuss the relationship between the community in general and the private sector in the development and implementation of the CEDS Section 5 – Strategic Projects 5. Strategic Projects, Programs & Activities – Suggested Projects and the projected number of jobs to be created as a result Lead organizations responsibilities for executing the projects Vital Projects (New) – a prioritized list of programs, projects, and activities that address the region’s greatest needs including sources of funding – – • These can be overarching “themes” for regional economic development success Section 6 – Plan of Action 6. CEDS Plan of Action – Implements the goals and objectives (sect. 3) • Includes a methodology for cooperation and integration with State’s economic development priorities. Section 7 – Performance Measures Performance Measures – quantifiable (New) 7. – Number of jobs created after implementation of the CEDS – Number and types of investments undertaken in the region – Number of jobs retained in the region – Amount of private sector investment in the region after implementation of the CEDS – Changes in the economic environment of the region (This list is not exhaustive and the region should add its own quantitative and qualitative measures) Requirements • State Approval (GDEcD) • 30 Day Public Review Period • Statement of compliance in Partnership Planning application • Majority Private Participation on Strategy Committee CEDS Strategy Committee • The Planning Organization (RDC) must appoint a Strategy Committee. • The Strategy Committee: – Represents the main economic interests of the Region, – Must include Private Sector Representatives as a majority of its membership, and – The Planning Organization should ensure that the Strategy Committee includes public officials, community leaders, representatives of workforce development boards, institutions of higher education, minority and labor groups, and private individuals. CEDS Schedule Your RDC Contact: • Jason W. Hensley, AICP Planning & Development Specialist (706) 210-2000 x120 [email protected]