A Comprehensive Economic Development Strategy (CEDS) is an economic plan required by the U.S. Department of Commerce - Economic Development Administration (EDA) for areas to be eligible for planning and construction funds to retain or improve their economies.
In January 2000, a CEDS planning process was commenced for a forty-town area, most of which is the TRORC Region. This larger CEDS area means we are working with the Southern Windsor County Regional Planning Commission, and two regional development corporations (Green Mountain Economic Development Corporation and Springfield Regional Development Corporation).
Work on the development and refinement of the CEDS involves hundreds of hours of research and evaluation of the Area's economic strengths, weaknesses, opportunities and threats. To enable full participation of all economic sectors and interests, special effort is taken to solicit the participation of organizations and individuals not typically involved in long-range economic planning. In May 2001, and every year thereafter, the CEDS document was approved by EDA, enabling planning and construction assistance and funding to be available for the 40-town CEDS area.
Since that time, work has continued with the Board and its working (Steering) committee on the identification of goals, objectives and needs for the area. One task of the Steering Committee has been to integrate the CEDS planning process with the overall regional planning programs of the regional planning commissions. In 2002, the Town of Randolph received funding to assist in the development of a business incubator project under the direction of Vermont Technical College. This project, coupled with a related downtown office construction project, improved the Randolph area economy. A grant of $830,000 was received due to our region's eligibility attained through the development of our CEDS. A 1.5 million dollar grant has recently been awarded to Windsor, VT by EDA.
TRORC continues to underwrite the costs of an update of the
CEDS to ensure that the document is current, meets the
needs
of the area and is a dynamic process with continued public
participation. Throughout the next couple of years, the
CEDS planning process is expected to continue.
Download the Comprehensive Economic Development Strategy