Comprehensive Economic Development (CEDS) Definition and Purpose
The Comprehensive Economic Development Strategy (CEDS) refers to the planning process and document generated from it which sets forth the San Luis Valley’s economic development vision, goals, strategies, and priorities in the next five years from 2018-2022. The CEDS could be viewed as the economic development master plan for the Valley
CEDS is part of SLVDRG responsibilities as one of the nation’s 300 or more Economic Development District organizations designated and funded to provide these functions by the U.S. Department of Commerce, Economic Development Administration (EDA).
The 2018 CEDS represents the seventh major update, and builds upon previous versions as a framework for economic development planning and as an essential reference
document. Previous editions of the CEDS (formerly referred to as the Overall Economic Development Program) were completed in 1992, 1984, 1979, and 2013 by the SLVDRG’s predecessor agency the San Luis Valley Regional Development and Planning Commission. 2018 San Luis Valley CEDS
Beyond the document itself, work on the CEDS is ongoing, and provides the flexibility for annual reviews and evaluation of the strategies carried out in order to make an effective response in the programming efforts to changing economic conditions, or in order to respond to new and unforeseen opportunities. As a performance-based plan, the CEDS serves a critical role in the 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.
Outcomes and action steps from the CEDS are aimed at:
- Creating better jobs and incomes.
- Diversifying the economy and strengthening economic sectors.
- Exposing new market potentials and business opportunities.
- Protecting resources and environment.
- Increasing local capacities for development.
- Developing and improving infrastructure.
- Providing the economic development tools and structure capable of responding to new opportunities.
- And enhancing the quality of life in general.
Goals and priorities in the CEDS also provide the framework for SLVDRG in determining its annual work programs focused on portions of the full plan, which can be accomplished or advanced within a 12-month period. Annual CEDS Reports are also prepared at year-end to keep current on changing conditions, describe what is working, and revise selected strategies and priorities as may be appropriate. Very few, if any, other economic development efforts are subjected to this level of evaluation and record of accountability.
Products and Benefits
Besides its obvious advantages for funding and guarantee of a continuous and updated planning effort, the CEDS is a one-of-a-kind document, which is truly regional and comprehensive in subject scope and content.
Due to its convenience as a central index for data, the CEDS Analysis Section has value within its own right, and is probably one of the Valley’s most frequently referenced documents for grant-writing and other study.
Based on past experience, the CEDS has a wide range of use represented by governments; land use and planning departments; feasibility studies; demographers; program administrators; banks; existing and prospective businesses; farmers and farm service agencies; tourists and tourist organizations; chambers of commerce; local and county-based economic development groups; downtown developers; emergency services; job training and employment agencies; hospitals and clinics; health professionals; news media; nonprofits; development practitioners; consultants of all types; real estate agents; private foundations; transportation planners; accountants; appraisers; target group advocates; lawyers and courts; nature-based organizations; industry prospects; conservation groups; law enforcement; community service agencies; senior organizations; social researchers; market researchers; authors and writers; students; schools; libraries; educators; churches; newcomers and prospective residents; Business Loan Fund clients of SLVDRG; and many more.
Annual Comprehensive Economic Development Strategy Reports
2016 Annual Comprehensive Economic Development Strategy Report
2015 Annual Comprehensive Economic Development Strategy Report
2014 Annual Comprehensive Economic Developemnt Strategy Report
Earlier CEDS Reports are available by request.
Staff Contact: Hew Hallock