A Comprehensive Economic Development Strategy (CEDS) for Northwest Michigan is the result of a local planning process designed to guide the economic growth of the region. It is produced yearly with funds provided by the U.S. Department of Commerce – Economic Development Administration (EDA).
According to the EDA, the CEDS must be the result of a continuing economic development planning process, developed with broad based and diverse community participation, and contain the following:
- An analysis of economic and community development problems and opportunities including incorporation of any relevant material or suggestions from other government sponsored or supported plans;
- Background and history of the economic development situation of the area covered, with a discussion of the economy, including as appropriate, geography, population, labor force, resources, and the environment;
- A discussion of community participation in the planning efforts;
- A section setting forth goals and objectives for taking advantage of the opportunities and solving the economic development problems of the area serviced;
- A plan of action, including suggested projects to implement objectives and goals set forth in the strategy; and performance measures that will be used to evaluate whether and to what extent goals and objectives have been or are being met.
The CEDS process helps create jobs, fosters more stable and diversified economies, and improves living conditions. It provides a mechanism for coordinating the efforts of individuals, organizations, local governments, and private industry concerned with economic development.
The CEDS process is required for every region to qualify for EDA assistance under its public works, economic adjustment, and most planning programs, and is a prerequisite for designation by EDA as an economic development district (EDD). Furthermore, the CEDS is an excellent resource to assess many of the economic development activities in the ten-county region.
Click below to download the CEDS document.
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