COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY DEVELOPING A STRATEGY FOR REGION 6 Region 6 Planning...
12
COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY DEV ELOP ING A ST RATE G Y FOR REGION 6 Region 6 Planning Commission 903 East Main Street Marshalltown, IA 50158 Phone: (641) 752-0717 Website: Prepared by the Region 6 Planning Commission for the Regional Development Initiative October 2012
COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY DEVELOPING A STRATEGY FOR REGION 6 Region 6 Planning Commission 903 East Main Street Marshalltown, IA 50158
COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY DEVELOPING A
STRATEGY FOR REGION 6 Region 6 Planning Commission 903 East Main
Street Marshalltown, IA 50158 Phone: (641) 752-0717 Website:
www.region6planning.org Prepared by the Region 6 Planning
Commission for the Regional Development Initiative October
2012
Slide 3
Comprehensive Economic Development Strategy C E D S Pronounced
saids FIRST, FOR THE SAKE OF SIMPLICITY Use the common acronym Or
just call it the Strategy
Slide 4
NEXT, WHAT IS REGION 6?
Slide 5
NOW, THE PURPOSE OF A CEDS The most basic purpose is to serve
as an economic roadmap to diversify and strengthen regional
economies. Economic Development Administration
Slide 6
WHAT ARE THE BENEFITS OF A CEDS? The development process
results in a regional strategy with an action plan to strengthen
and diversify the economy. Region 6 receives funding to facilitate
the development and implementation of a CEDS. The region qualifies
to apply for applicable Economic Development Administration funding
opportunities. Projects identified in a planning process may be
more likely to receive competitive grant funds. The development
process brings public and private sectors together to help create
public- private partnerships that can leverage funds.
Slide 7
THESE ARE THE REQUIREMENTS A new CEDS is required every 5
years. Annual performance reports are required. The new Region 6
CEDS is due December 31. For strategy development Note:
Requirements are based on current Economic Development
Administration guidance.
Slide 8
THESE ARE THE REQUIREMENTS For a committee A committee is
responsible for developing, revising, or replacing the CEDS.
Committee membership should include public officials, community
leaders, representatives of workforce development boards,
institutions of higher education, minority and labor groups, and
private individuals. Committee membership must have a majority that
represents the main economic interests of the region. Note:
Requirements are based on current Economic Development
Administration guidance.
Slide 9
THESE ARE THE REQUIREMENTS For strategy contents and public
comment The CEDS must include background information about the
region and an analysis of economic development problems and
opportunities. The actual strategy must consist of goals,
objectives, projects, plan of action, and a discussion of how the
community and private sector can work together in achieving goals.
The CEDS must include indicators to gauge economic development
success in the region. A 30-day public comment period is required.
Note: Requirements are based on current Economic Development
Administration guidance.
Slide 10
ADDING VALUE BEYOND THE REQUIREMENTS Form a long-term regional
committee for all region wide planning efforts to ensure
coordination, consistency, and diverse participation Identify
goals, objectives, and projects that are realistic and require a
wide range of financial, physical, and human capital needs. Include
economic development questions in future community surveys to use
in future CEDS updates. Conduct regular reviews of the CEDS with
the regional committee to ensure continued support and
implementation of goals
Slide 11
CURRENT CEDS DEVELOPMENT ACTIVITIES County, city, and economic
development update meetings Committee formation Basic background
research Committee meeting development and preparation Funding
opportunities research
Slide 12
UPCOMING CEDS DEVELOPMENT ACTIVITIES Two formal committee
meetings with remote participation opportunities and finalizing
committee membership Identify the regions strengths, weaknesses,
opportunities, and threats and finalize basic background
information with Committee guidance Identify the regions goals,
objectives, and projects with Committee guidance Create an action
plan for implementing goals, objectives, and projects with
Committee guidance Determine appropriate indicators of economic
development success with Committee guidance Complete a draft of the
CEDS to allow for a 30 day public comment period and make revisions
before submission for approval
Slide 13
YOUR QUESTIONS OR SUGGESTIONS Please contact Alicia Presto at
the Region 6 Planning Commission 903 East Main Street Marshalltown,
IA 50158 Main Office Phone: (641) 752-0717 Direct Phone Line: (641)
751-0517 Email: [email protected] Website:
www.region6planning.orgwww.region6planning.org
