13 CFR 303.7 - Requirements for Comprehensive Economic Development Strategies.
(a) General. CEDS are designed to bring together the public and private sectors in the creation of an economic roadmap to diversify and strengthen Regional economies. The CEDS should analyze the Regional economy and serve as a guide for establishing Regional goals and objectives, developing and implementing a Regional plan of action, and identifying investment priorities and funding sources. Public and private sector partnerships are critical to the implementation of the integral elements of a CEDS set forth in paragraph (b) of this section. As a performance-based plan, the CEDS will serve a critical role in a Region's efforts to defend against economic dislocations due to global trade, competition and other events resulting in the loss of jobs and private investment.
(b) Technical requirements. A CEDS must be the result of a continuing economic development planning process, developed with broad-based and diverse public and private sector participation, and shall contain the following:
(1) A background of the economic development situation of the Region with a discussion of the economy, population, geography, workforce development and use, transportation access, resources, environment and other pertinent information;
(2) An in-depth analysis of economic and community development problems and opportunities, including:
(i) Incorporation of relevant material from other government-sponsored or supported plans and consistency with applicable State and local workforce investment strategies; and
(ii) An identification of past, present and projected future economic development investments in the Region covered;
(3) A section setting forth goals and objectives necessary to solve the economic development problems of the Region;
(5) A section listing all suggested Projects and the projected numbers of jobs to be created as a result thereof;
(6) A section identifying and prioritizing vital Projects, programs and activities that address the Region's greatest needs or that will best enhance the Region's competitiveness, including sources of funding for past and potential future Investments;
(7) A section identifying economic clusters within the Region, focusing on those that are growing or in decline;
(iv) Maximizing effective development and use of the workforce consistent with any applicable State or local workforce investment strategy;
(v) Promoting the use of technology in economic development, including access to high-speed telecommunications;
(9) A list of performance measures used to evaluate the Planning Organization's successful development and implementation of the CEDS, including but not limited to the following:
(10) A section outlining the methodology for cooperating and integrating the CEDS with a State's economic development priorities.
(1) In determining the acceptability of a CEDS prepared independently of EDA Investment Assistance or oversight for Projects underparts 305 and 307 of this chapter, EDA may in its discretion determine that the CEDS is acceptable without fulfilling all the requirements of paragraph (b) of this section. In doing so, EDA shall consider the circumstances surrounding the application for Investment Assistance, including emergencies or natural disasters and the fulfillment of the requirements of section 302 of PWEDA.
(2) If the CEDS for a Project underparts 305 and 307 of this chapter is developed under another federally-supported program, it must include acceptable performance measures similar to those set forth in paragraph (b) of this section and information on the state of the Regional economy. To the maximum extent practicable, the CEDS shall be consistent and coordinated with any existing economic development plan for the Region.
Effective Date Note:
At 79 FR 76130, Dec. 19, 2014, § 303.7(b) was revised, effective Jan. 20, 2015. For the convenience of the user, the revised text is set forth as follows:
§ 303.7 Requirements for Comprehensive Economic Development Strategies.
(1) A CEDS must be the result of a continuing economic development planning process, developed with broad-based and diverse public and private sector participation. Consistent withsection 302 of PWEDA, each CEDS must promote Regional resiliency and be unique and responsive to the relevant Region. Each CEDS must include:
(ii) An in-depth analysis of economic and community development strengths, weaknesses, opportunities, and threats (commonly known as a “SWOT” analysis);
(iii) Strategies and an implementation plan to build upon the Region's strengths and opportunities and resolve the weaknesses and threats facing the Region, which should not be inconsistent with applicable State and local economic development or workforce development strategies; and
(iv) Performance measures used to evaluate the Planning Organization's successful development and implementation of the CEDS.
Title 13 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 13 CFR Part 303.