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 Objective measures or metrics of success

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

Where are the Districts?

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)

EDA Investment Guidelines

Collaborative Regional InnovationPublic/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

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)

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)