The Public Works and Economic Development Act of 1965 (PWEDA) requires federally designated “Economic Development Districts” like ACOG to develop and maintain a “five-year regional CEDS”. What is the CEDS? It is the region’s “Comprehensive Economic Development Strategy” that not only outlines the strategic E.D. investment priorities of the region, but also keeps our six counties and 42 municipalities both eligible and competitive for federal grant competition. It is not only an informative document, but a highly practical one as well. Development of the CEDS involves not only ACOG staff work, but input from a diverse set of regional stakeholders, county councils, economic developers, and a special sub-committee from the ACOG Board.
The CEDS is re-written every five years and updated annually. The current CEDS, written in 2012, is titled,“CEDS 2013-2017: Building 21st Century Economic Development Capacity”. On September 26, 2014, the ACOG Board adopted its most recent update, titled, “CEDS Update 2014: An Outstanding Year for Target Industries and Global Competitiveness.”
What distinguished regional economic development over the past year? To start, it was a record year for new industrial investment and job creation. The region also took major steps to increase its presence as global competitor in international business and trade. To learn more, download the 2014 CEDS Update here.