Comprehensive Economic Development Strategies (CEDS)

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Comprehensive Economic Development Strategies (CEDS) required by the U.S. Dept. of Commerce Economic Development Administration will provide the Hampton Roads, Virginia region with a: Continuing economic development planning process, broad-based and diverse public and private sector participation, goals and objectives necessary to solve the economic development problems of the region and clearly defined metrics of success. A CEDS is a useful benchmark by which a regional economy can evaluate opportunities with other regions in the national economy. Courtesy of Kaufman & Canoles Consulting

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Comprehensive Economic Development Strategies (CEDS)

  1. 1. Hampton Roads Partnership Comprehensive Economic Development Strategy Discussion April 17, 2009 Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  2. 2. Presentation Overview <ul><li>Introduction to CEDS </li></ul><ul><li>Features of CEDS </li></ul><ul><li>Who should develop one? </li></ul><ul><li>Supplemental Appropriation </li></ul><ul><li>CEDS Components </li></ul><ul><li>Let’s look at one </li></ul><ul><li>Discussion </li></ul>Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  3. 3. (CEDS) Introduction: <ul><li>Engage public and private sectors in the creation of an economic roadmap to diversify and strengthen regional economies. </li></ul><ul><li>Analyze the regional economy and serve as a guide for </li></ul><ul><ul><li>regional goals and objectives, </li></ul></ul><ul><ul><li>a regional plan of action, and </li></ul></ul><ul><ul><li>regional investment priorities and funding sources. </li></ul></ul><ul><li>Integrates a region's human and physical capital planning in economic development. </li></ul><ul><li>Provides the flexibility to adapt to global economic conditions and fully utilize the region's unique advantages to maximize economic opportunity for its residents by attracting the private investment that creates jobs for the region's residents. </li></ul>Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  4. 4. Features of the CEDS Process <ul><li>Continuing economic development planning process </li></ul><ul><li>Broad-based and diverse public and private sector participation, </li></ul><ul><li>Set forth the goals and objectives necessary to solve the economic development problems of the region and </li></ul><ul><li>Clearly define the metrics of success. </li></ul><ul><li>A useful benchmark by which a regional economy can evaluate opportunities with other regions in the national economy. </li></ul>Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  5. 5. Who should develop a CEDS? <ul><li>A Planning Organization seeking to formulate and implement a regional economic development program </li></ul><ul><li>Successful economic development efforts are based on CEDS that provide an economic roadmap to diversify and strengthen regional economies. </li></ul><ul><li>CEDS required in order to apply for investment assistance under EDA's Public Works or Economic Adjustment Assistance Programs. </li></ul><ul><li>EDA may accept CEDS that it has funded or CEDS prepared independently of EDA investment assistance or oversight. </li></ul>Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  6. 6. EDA Supplemental Appropriation <ul><li>The Recovery Act appropriated $150,000,000 for the EDA American Recovery Program under the auspices of PWEDA. </li></ul><ul><li>These funds shall remain available for obligation until September 30, 2010. </li></ul><ul><li>The law mandates that $50,000,000 of the $150,000,000 must be allocated for economic adjustment assistance under section 209 of PWEDA (42 U.S.C. 3149). </li></ul><ul><li>EDA will allocate the remaining $100,000,000 to either the Public Works and Economic Development Facilities Program or the Economic Adjustment Assistance Program, depending on the needs demonstrated among EDA's six regional offices, located in Atlanta, Austin, Chicago, Denver, Philadelphia and Seattle. </li></ul><ul><li>Federally authorized regional economic development commissions may assist eligible applicants in submitting applications under this notice or may seek transfers directly from EDA. </li></ul>Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  7. 7. CEDS Components <ul><li>EDA Funded CEDS </li></ul><ul><ul><li>Planning Organization </li></ul></ul><ul><ul><li>Strategy Committee </li></ul></ul><ul><li>Technical Requirements </li></ul><ul><ul><li>Background </li></ul></ul><ul><ul><li>CEDS Goals and Objectives </li></ul></ul><ul><ul><li>Community and Private Sector Participation </li></ul></ul><ul><ul><li>Strategic Projects, Programs and Activities </li></ul></ul><ul><ul><li>CEDS Plan of Action </li></ul></ul><ul><ul><li>Performance Measures </li></ul></ul>Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  8. 8. Let’s Look at One <ul><li>The State of Delaware CEDS </li></ul>Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services
  9. 32. DISCUSSION Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public-Private Development Economic Development Government Agency Services Economic Development Public -Private Development Economic Development Government Agency Services Corporate Acquisitions & Strategies Land Management Services Public -Private Development Government Agency Services

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