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Comprehensive Economic Development Strategy Update 2011-2012

Comprehensive Economic Development Strategy Update 2011-2012. What is a CEDS?. A collaboration between the public and private sector Economic roadmap Diversify and strengthen the regional economy An action plan to: Set forth problem-solving goals and objectives

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Comprehensive Economic Development Strategy Update 2011-2012

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  1. Comprehensive Economic Development Strategy Update2011-2012

  2. What is a CEDS? • A collaboration between the public and private sector • Economic roadmap • Diversify and strengthen the regional economy • An action plan to: • Set forth problem-solving goals and objectives • Objective measures or metrics of success

  3. Why is a CEDS needed? 3CORE is a federally-recognized Economic Development District (EDD) 383 Districts nationally with 5 Districts in California EDDs are required to develop a CEDS every 5-years Approved CEDS qualify EDDs for access to EDA funding as well as other funding EDA invests in approved CEDs priority projects

  4. Where are the Districts?

  5. Governance • 5-Person Board of Directors • Overseas the general operations of the 501C3 corporation • Private Sector Members from the tri-county region • 25-Member CEDS Advisory Board • Membership prescribed by EDA • Responsible for developing area regional plan • Regional plan called the Comprehensive Economic Development Strategy (CEDS)

  6. EDA Investment Guidelines • Collaborative Regional Innovation • Public/Private Partnerships (no lone wolfs) • National Strategic Priorities • Clean energy • Green technologies • Sustainable manufacturing • Information technology infrastructure (broadband) • Automotive industry restructuring • Natural disasters • Access to capital (small, medium, ethnically diverse businesses) • Innovations in science, health care, alternative fuels

  7. EDA Investment Guidelines (con’t) Global Competitiveness (expand and compete in global markets) Environmentally-sustainable Development (GREEN!) Economically Distressed and Underserved Communities (disproportionate economic and job loss; rebuilding to be competitive in the global economy)

  8. Priority Project Development & Next Steps Set local priorities (by April 15) Local governing board approval (by April 29) 3CORE assemble CEDS (by May 30) Publish CEDS for public review (by June 1) 3CORE Board approval of final CEDS (by June 17) CEDS submitted to EDA (by June 30)

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