NCWEDD COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY

Updated Comprehensive Economic Development Strategy is available here:

2023 Regional Priority Project Rankings CEDS Appendix Update

2022 CEDS Update
2021-2026 CEDS

ABOUT THE CEDS

From: https://www.eda.gov/ceds/ The Comprehensive Economic Development Strategy (CEDS) contributes to effective economic development in America’s communities and regions through a locally-based, regionally-driven economic development planning process.  Economic development planning – as implemented through the CEDS – is not only a cornerstone of the U.S. Economic Development Administration’s (EDA) programs, but successfully 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.

Simply put, a CEDS is a strategy-driven plan for regional economic development.  A CEDS is the result of a regionally-owned planning process designed to build capacity and guide the economic prosperity and resiliency of an area or region. It is a key component in establishing and maintaining a robust economic ecosystem by helping to build regional capacity (through hard and soft infrastructure) that contributes to individual, firm, and community success. The CEDS provides a vehicle for individuals, organizations, local governments, institutes of learning, and private industry to engage in a meaningful conversation and debate about what capacity building efforts would best serve economic development in the region.  The CEDS should take into account and, where appropriate, integrate or leverage other regional planning efforts, including the use of other available federal funds, private sector resources, and state support which can advance a region’s CEDS goals and objectives.  Regions must update their CEDS at least every five years to qualify for EDA assistance under its Public Works and Economic Adjustment Assistance programs.  In addition, a CEDS is a prerequisite for designation by EDA as an Economic Development District (EDD).

STRATEGIC DIRECTION/ACTION PLAN:

The EDD serves as a means by which members and partners can assist our most distressed neighbors by incorporating their most pressing infrastructure, data tracking and analysis, and small business support needs into a regional strategy.

GUIDING PRINCIPLES

Guiding principles establish a broader framework for the EDD vision and mission statements.  They identify a set of values critical to the success of achieving our vision. Though each of these principles stands alone in reflecting our committee’s values, it is recognized that some may either complement or conflict with others. The ideal projects will balance competing principles when possible.

• We recognize the importance of maintaining rural lifestyles and enhancing the quality of life.

• We value the preservation of unique and significant natural and cultural resources, and respect diverse cultures.

• We encourage participation of all citizens and consensus-based planning and recognize that success requires a long-term commitment.

• We value the importance of understanding our regional economy and using that to shape the future.

• We believe partnerships expand opportunities.

• We encourage sustainable economic development, believing that the integration of community, economy and environment is key to success

• We play a leadership role for regional economic development in the region.

• We believe in building on our strengths, supporting the maintenance, preservation, and development of existing and new business and infrastructure.