Comprehensive Economic Development Strategies
Comprehensive Economic Development Strategies (CEDS)
A Comprehensive Economic Development Strategies document (CEDS) contributes to effective economic development in communities and regions through locally-based, regionally-driven economic development planning processes. A CEDS document is required by the U.S. Department of Commerce Economic Development Administration (EDA) in order to maintain Economic Development District (EDD) status, and must be updated at least once every five years to qualify for EDA assistance.
Region Nine is the designated Economic Development Disctrict for the nine county area of South Central Minnesota (Blue Earth, Brown, Faribault, Le Sueur, Martin, Nicollet, Sibley, Waseca, and Watonwan Counties) and is responsible for preparing the CEDS update report.
A CEDS is designed to:
- Bring together the public and private sectors
- Be an economic roadmap to diversify and strengthen regional economies
- Analyze the regional economy
- Serve as a guide for establishing regional goals and objectives
- Be a regional plan for implementation and action
- Identify investment priorities and funding sources
The CEDS Committee is made up of 21 members. Areas represented on the committee include: private business, post-secondary education, labor, education, government, and community based organizations. This commitment to diversity helps to create engagement in both the public and private sectors, and establishes a blueprint for regional collaboration.