Comprehensive Economic Development Strategy 2023 Annual Performance Report

Written by admin on 14th December 2023 News, Press Releases

The United States Economic Development Administration (EDA), which is part of the US Department of Commerce, is charged with leading the federal economic development agenda for the country by promoting innovation and regional collaboration as a means for increasing global competitiveness and building diversified and resilient regional economies. EDA accomplishes this goal by making strategic regional investments that foster job creation, leverage public and private resources, foster innovation, increase competitiveness, promote environmental sustainability, and strengthen underserved communities. EDA promotes regional collaboration by designating local economic development districts (EDD) which are then required to create and maintain a comprehensive economic development strategy (CEDS). The CEDS is designed to be an inclusive, strategy driven planning process that defines a regional vision for economic growth and resilience and identifies local priorities for future investment. The CEDS is an ongoing planning process that must be revisited annually and updated every five years. Central Midlands Council of Governments (CMCOG) serves as the EDD for the Central Midlands region. CMCOG adopted a new five‐year CEDS document in December 2022. As part of the ongoing planning process, EDA requires development of a CEDS Annual Performance report each year. The 2023 Annual Performance Report provides an update of selected regional economic conditions as they relate to the goals, objectives, and evaluation metrics established in the 2022 – 2027 CEDS. The 2023 Annual Performance Report does not include or recommend any “major changes” to the 2022‐2027 CEDS.


2023 CEDS Annual Update


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