The Role of Projects in a CEDS
What is a Comprehensive Economic Development Strategy (CEDS)?
CEDS are designed to bring together the public and private sectors in the creation of an economic roadmap to diversify and strengthen the regional economy. 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. In addition, many federal and state granting programs are looking to a regional CEDS when making funding decisions.
The Windham Region of Southeastern Vermont finalized its first CEDS in late 2013.
What role do projects play in the CEDS?
A CEDS must be the result of an ongoing economic development planning process, developed with broad-based and diverse public and private sector participation, and must include a section listing all suggested projects and the projected numbers of jobs created. The CEDS will also contain 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.
What is the value to my project being included in the Windham Region CEDS?
The CEDS is a regional plan for growth of the economy created using a regional public approach. It is helpful for the rest of the region as well as potential new businesses to understand what we as a region are trying to accomplish. Inclusion of your project in the CEDS indicates it is aligned with regional goals for growth. Identification of your project as a vital project indicates the project is of the highest priority and expected to have the greatest impacts on achieving the regional goals.
While inclusion of your project in no way guarantees funding of any sort, many federal agencies look more favorably upon projects which have the kind of broad support inclusion in a region CEDS indicates. EDA often requires a CEDS be in place for a region in order for a project grant application to be considered.
In addition, to be eligible to apply to receive funds from the State of Vermont’s Windham County Economic Development Program the FAQ’s state that: “only projects that meet a goal or objective of the CEDS will be eligible for funding.”
Will every project submitted be identified in the CEDS?
Yes, the EDA requires that all projects submitted should be acknowledged in the CEDS. Every project has some merit, and the CEDS will be home to a great diversity of potential public and private development initiatives. However, certain projects will be identified and selected as vital projects, and they will be prioritized into a short list of ten to twelve. The purpose of this prioritized list is to publically acknowledge the top actions that will result in the most significant progress towards the region’s economic development goals.
How will vital projects be identified and prioritized?
The overarching purpose in identifying vital projects is to publicly acknowledge the top actions our region can support that will make demonstrable progress towards our regional economic development goals. SeVEDS has an established set of measurable goals with objectives and a clear set of strategies. Projects consistent with these objectives and strategies and can demonstrate a compelling argument for their relationship to the goals will obviously garner a great deal of support.
A scoring chart has been developed by SeVEDS that that will be put to use by the project selection committee. Each proposal will be reviewed and assigned a series of points in an effort to aid the committee with the prioritization.
The project selection committee, is that all SeVEDS?
No, the project selection committee is a small group of 5 individuals that represent the region and are firmly established in their field of expertise and were chosen by SeVEDS because they are seen as fair, impartial and practical.
Who can submit projects for inclusion into the CEDS?
Any private or public entity or consortium of entities can submit a project for consideration.
I submitted a project last year. Do I need to resubmit it?
You need to submit a status update on the project in order for it to be included in the 2014 CEDS project list. An updating documenting what has been accomplished in the past year, what resources has your project gathered, how have the plans changed must be sent in to the proposal address noted below.
Are there any required elements for a submission?
Simply put, projects submitted for inclusion into the CEDS will provide a compelling narrative. The CEDS project review committee will have one opportunity to review the submission, and so you will be responsible for explaining how your project is consistent with SeVEDS regional economic development objectives and strategies and why your project is this regions nest bet to make s significant improvement against the regional economic development goals.
If I have more questions, who can I call? All inquiries, questions and clarifications must be directed to Kristin Mehalick, SeVEDS Project Manager at [email protected] or 802-257-7731 ext. 226
2015 CEDS Documents
2014 CEDS Documents
Form to update our 2013 CEDS project to be included in the 2014 CEDS (required for 2013 projects)