Comprehensive Economic Development Strategy
The CEDS analyzes the regional economy, addresses regional economic problems, and serves as a guide for establishing regional goals and objectives, developing and implementing a regional plan of action, identifying investment priorities and funding sources, and assigning lead organizations responsibilities for execution of the strategy.
A Planning Organization seeking to formulate and implement a regional economic development program will benefit from developing a CEDS. Successful economic development efforts are based on CEDS that provide an economic roadmap to diversify and strengthen regional economies.
CEDS are commonly developed by Planning Organizations and District Organizations (terms defined in EDA’s regulations) that function within the boundaries of an EDA-designated Economic Development District (EDD). EDA’s Planning Program generally funds the development and update of CEDS through these organizations, and Applicants may provide the EDA-funded CEDS (one or more, as applicable) that has/have been developed for the Applicant’s region.
A CEDS, or equivalent plan accepted by EDA as a CEDS, is required for funding assistance under EDA’s Economic Adjustment Assistance and Public Works programs. The i6 Challenge is conducted as part of the Economic Adjustment Assistance program only.