A comprehensive economic development strategy (CEDS) is designed to create an economic roadmap to diversify and strengthen regional economies through the collaboration of public and private sectors. The purpose of this CEDS is to establish a process that will help to create jobs, foster a more stable and diversified economy, and improve living conditions within the MAPA region. In addition, this CEDS should provide useful benchmarks by which the MAPA regional economy can evaluate opportunities with other regions in the national economy.
The CEDS document:
The Economic Development Administration Reform Act of 1998 identifies a CEDS as a requirement to apply for assistance under the Economic Development Administration's (EDA) public works and economic adjustment programs. In 2007, EDA designated MAPA as an Economic Development District (EDD). With this designation, MAPA is the principle planning organization for the region and is eligible for EDA planning investment assistance. MAPA is responsible for submitting a new CEDS to EDA at least every five years.
Economic Development Districts play a key role in local economic development. Instead of having to respond to individual requests from over 2,000 eligible county economic development organizations around the nation, EDDs assist EDA in establishing regional priorities for projects and investments. Boards comprised of local elected officials and private sector representatives from cities, towns and counties govern these multi-county or other regional planning organizations.
This CEDS document should be readily accessible to the economic development stakeholders in the MAPA region. There should be a continuing program of communication and outreach that encourages broad-based public engagement, participation and commitment of partners. The general public, government decision makers, and business investors should be able to use this document as a guide to understanding the regional economy and to take action to improve it. The strategy should take into account and, where appropriate, incorporate other planning efforts in the region. Its quality should be judged by its usefulness as a tool for local decision-making.
To view the CEDS plan with 2011 Update and Progress report, please click here.