Comprehensive Economic Development Strategy
As the Economic Development District for the region, Tri-County develops a Comprehensive Economic Development Strategy (CEDS) every five years to provide goals and actions for communities within the region that promote economic prosperity and improve quality of life. Management of the CEDS enables municipalities in the tri-county region to compete for federal project funding. To complete the CEDS, economic development professionals collaborate with transportation and land use planners, tourism experts, environmental groups, elected officials, universities and colleges, not-for-profits, and community and business leaders to outline and annually update the region's planning strategy for community and economic vitality, prosperity, growth, and sustainability.
The 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. 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.