A Comprehensive Economic Development Strategy 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 District 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