A Comprehensive Economic Development Strategy (CEDS) is a region’s economic roadmap that ensures a strong, inclusive, and equitable economy by bringing together public, private, and civic stakeholders to establish regional goals, objectives, and a plan of action. The CEDS process analyzes existing regional conditions, opportunities, and global economic conditions, leading to a region-specific strategy-driven plan for economic prosperity.
The Capital Region’s previous CEDS, Next Economy, covered 2013-2018. To prepare for the region’s next CEDS, Valley Vision, Greater Sacramento Economic Council, Sacramento Metro Chamber, and Sacramento Area Council of Governments launched the Prosperity Strategy process in 2018. The strategy builds upon the Brookings Institution market assessment findings and framework of five market factors: Tradable Clusters, Innovation, Talent, Infrastructure, and Governance. The Capital Region’s Prosperity Strategy (CEDS) focused on three principle goals: improve business, support people, and develop place. The Prosperity Strategy is a triple bottom line approach that will ensure a strong, inclusive, and equitable economy for the six-county Sacramento Capital region.
what is the goal?
The goal is to grow the Sacramento Region’s economy in ways that support all of the region’s residents and communities by prioritizing core economic initiatives resulting in a more aligned, prosperous and resilient Sacramento Region.
why is this important?
An effective CEDS allows a region to maximize it’s potential by serving as a roadmap for future economic development endeavors. A CEDS qualifies a region for U.S. Economic Development Administration (EDA) funding assistance, under its Public Works and Economic Adjustment Assistance programs. Furthermore, a CEDS is also a prerequisite for designation by EDA as an Economic Development District (EDD), and must be updated every five years in order to stay relevant with changing economic conditions.
what is Valley Vision’s role?
Valley Vision has been granted the planning organization to serve as the project manager for the CEDS process. Valley Vision is seeking public comment from the Sacramento Capital Region on the draft of the Comprehensive Economic Development Strategy (CEDS), the Prosperity Strategy.
CEDS Public Input
The DRAFT 2019 CEDS is posted for public comment for 30 days. The six-county regional CEDS draft will be accessible below:
CEDS Prosperity Strategy
The feedback form to provide comments to the report:
Comments submitted for the CEDS Prosperity Strategy to Valley Vision, will be accepted over a 30 day review period from draft release. The CEDS will review and respond to public commentary within a reasonable time. The CEDS Steering Committee will consider adoption of the CEDS document, and the final publication of the CEDS will release in March 2020.
Valley Vision will serve as the project manager for the CEDS 2018-2023.
The CEDS is conducted in connection with the Prosperity Partnership: Greater Sacramento Area Economic Council, Sacramento Area Council of Governments, Sacramento Metropolitan Chamber of Commerce, and Valley Vision.
The findings, conclusions, and recommendations are based on multiple sources and work product that include but are not limited to the Prosperity Partnership, RW Ventures, Brookings Institution, Centers of Excellence, and regional partners, and do not necessarily reflect the views of the U.S. Department of Commerce Economic Development Administration.
For further questions unspecified above, please email Trish Kelly or Sonia Duenas.