13 C.F.R. § 303.7 Requirements for Comprehensive Economic Development Strategies.
Title 13 - Business Credit and Assistance
(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, identifying investment priorities and funding sources, and assigning lead organizations responsibilities for execution of the CEDS. 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; (4) A discussion of community and private sector participation in the CEDS effort; (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 that are growing or in decline within the Region; (8) A plan of action to implement the goals and objectives of the CEDS, including: (i) Promoting economic development and opportunity; (ii) Fostering effective transportation access; (iii) Enhancing and protecting the environment; (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; (vi) Balancing resources through sound management of physical development; and (vii) Obtaining and utilizing adequate funds and other resources; and (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: (i) Number of jobs created after implementation of the CEDS; (ii) Number and types of investments undertaken in the Region; (iii) Number of jobs retained in the Region; (iv) Amount of private sector investment in the Region after implementation of the CEDS; and (v) Changes in the economic environment of the Region; and (10) A section outlining the methodology for cooperating and integrating the CEDS with a State's economic priorities. (c) Consideration of non-EDA funded CEDS. (1) In determining the acceptability of a CEDS prepared independently of EDA Investment Assistance or oversight for Projects under parts 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 under parts 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.
Title 13: Business Credit and Assistance
PART 303—PLANNING INVESTMENTS AND COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGIES
§ 303.7 Requirements for Comprehensive Economic Development Strategies.
