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 levers: Tradable Clusters, Innovation, Talent, Infrastructure, and Governance. The Greater Sacramento 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. It serves as the region’s CEDS.
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 its 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. The CEDS must be fully updated every five years in order to stay relevant with changing economic conditions, with annual progress reports.
what is Valley Vision’s role?
Valley Vision serves as the project manager for the CEDS process. Valley Vision is seeking public comment from stakeholders in the Greater Sacramento Region on the draft CEDS.
CEDS Public Input
The DRAFT 2020 CEDS was posted for public comment for 30 days. The comment period closed March 13, 2020. The six-county regional CEDS draft is accessible below.
Comments submitted for the CEDS review to Valley Vision, will be accepted over the 30 day review period. Comments will be reviewed and responded to within a reasonable time. The CEDS Steering Committee will consider adoption of the CEDS upon approval by the region’s six county Boards of Supervisors. The report will be submitted to EDA April 1, 2020.
The CEDS is conducted in collaboration 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.