Comprehensive Economic Development Strategy
The Comprehensive Economic Development Strategy (CEDS) is a locally-based, regionally-driven economic development planning process required in order to qualify for assistance from the U.S. Economic Development Administration (EDA) under its Public Works and Economic Adjustment Assistance programs. It is also a prerequisite for designation of a regional development organization by EDA as an Economic Development District (EDD). The strategy process serves as a means to engage community leaders, leverage the involvement of the private sector, and establish a strategic blueprint for regional collaboration. The CEDS provides the capacity-building foundation by which the public sector, working in conjunction with other economic actors (individuals, firms, industries), creates the environment for regional economic prosperity.
The latest CEDS content guidelines now require economic resilience to be an important part of CEDS. Specifically, economic development districts are encouraged to adopt a two-pronged approach:
The NADO Research Foundation has organized training and developed resources to support EDDs with improving their CEDS and making them a true roadmap to regional prosperity and resilience. These include:
The Comprehensive Economic Development Strategy (CEDS) is a locally-based, regionally-driven economic development planning process required in order to qualify for assistance from the U.S. Economic Development Administration (EDA) under its Public Works and Economic Adjustment Assistance programs. It is also a prerequisite for designation of a regional development organization by EDA as an Economic Development District (EDD). The strategy process serves as a means to engage community leaders, leverage the involvement of the private sector, and establish a strategic blueprint for regional collaboration. The CEDS provides the capacity-building foundation by which the public sector, working in conjunction with other economic actors (individuals, firms, industries), creates the environment for regional economic prosperity.
The latest CEDS content guidelines now require economic resilience to be an important part of CEDS. Specifically, economic development districts are encouraged to adopt a two-pronged approach:
- Planning for and implementing resilience – including identifying regional economic vulnerabilities and assets, developing a strategic, positive vision, and ensuring preparatory actions such as hazard mitigation, disaster response, and recovery strategies and plans.
- Establishing information networks – positioning economic development districts as economic and business data and intelligence hubs for disaster preparedness and post-disaster recovery for regional businesses and community leaders.
The NADO Research Foundation has organized training and developed resources to support EDDs with improving their CEDS and making them a true roadmap to regional prosperity and resilience. These include:
- CEDS Resilience Library: The NADO Research Foundation has reviewed CEDS prepared by its members and cataloged examples detailing how EDDs are currently addressing resilience. The library allows users to browse CEDS that incorporate resilience by state and topic.
- "September with the CEDS" Webinar Series: These webinars held in September 2015 showcased economic development districts throughout the country that have taken innovative planning approaches to integrating economic resilience into their CEDS through aligning existing regional planning processes, robustly analyzing their strengths, weaknesses, opportunities, and threats, and developing relevant and realistic metrics for measuring their progress.
- Innovation and Opportunity: A Closer Look at the New CEDS Content Guidelines Webinar: This webinar discussed EDA’s CEDS Content Guidelines and covered other resources and strategies available to regions to drive economic development and resilience.
- Regional Economic Resilience and the CEDS Workshop: This in-person training held in December 2014 covered the CEDS Content Guidelines and the best ways to identify key issues, develop calls to action, formulate goals, and move towards action and implementation.