Comprehensive Economic Development Strategy (CEDS)
What is a CEDS?
A Comprehensive Economic Development Strategy (CEDS) is an economic development plan required by the U.S. Department of Commerce, Economic Development Administration (EDA) for areas to be eligible for planning and construction funds to improve their economies.
In May 2001, and every year thereafter, the CEDS plan was approved by EDA, enabling planning and construction assistance and funding to be available for the 40-town CEDS area. TRORC continues to work with the CEDS Board and its working (Steering) committee on the identification of goals, objectives and needs for the area. The recently updated 2020-2025 CEDS was adopted in June 2020 by the ECVEDD Board.
Work on the development and refinement of the CEDS involves hundreds of hours of research and evaluation of the Region’s economic strengths, weaknesses, opportunities and threats. To enable full participation of all economic sectors and interests, special effort is being taken to solicit the participation of organizations and individuals not typically involved in long-range economic planning.
In addition, the East Central Vermont CEDS Region has been designated as an Economic Development District. This designation allows regional planning and economic development leaders the ability to secure the resources necessary to develop new businesses in our state and encourage the growth of existing businesses appropriate to this Region.
- CEDS 2020-2025
- CEDS 2016-2021
- CEDS 2011-2015
- Economic Data and Analysis of East Central VT-123110
- Vermont 2020 CEDS
What is an Economic Development District (EDD)?
An Economic Development District is a federally designated organization charged with the development, maintenance, and implementation of the Comprehensive Economic Development Strategy (CEDS). Application for designation involves several steps including written support by the State of Vermont and a plan of operation as a non-profit organization. Once designated, the EDD is eligible for a 50% matching planning grant to fund the program and staff.
The East Central Vermont Economic Development District’s mission is to access and provide resources and to facilitate support for quality decision making for the benefit of entrepreneurs, businesses, and communities in East Central Vermont. The eligible members of the East Central Vermont Economic Development District (the District) are our 40 towns within Addison, Orange, Rutland, and Windsor Counties as well as the Green Mountain Economic Development Corporation (GMEDC), Mount Ascutney Regional Commission (MARC), Springfield Regional Development Corporation (SRDC), and Two Rivers-Ottauquechee Regional Commission (TRORC). The 40 towns of East Central Vermont were designated as an Economic Development District in December 2013. This designation allows the region to gain access to Economic Development Administration (EDA) Investment Assistance through a variety of grant opportunities. Any requests for EDA funding must align with this Comprehensive Economic Development Strategy (CEDS).
Staffing for the ECVEDD is provided by Two Rivers-Ottauquechee Regional Commission, Springfield Regional Development Corporation, Mount Ascutney Regional Commission, and Green Mountain Economic Development Corporation.