SeVEDS CEDS accepted by EDA
July 25, 2014 – Southeastern Vermont’s economic development action plan was accepted by the U.S. Economic Development Administration (EDA)
BDCC, on behalf of its affiliate the Southeastern Vermont Economic Development Strategies (SeVEDS) and the Windham Region CEDS committee, received a planning grant in 2012 to develop the first ever regionally-focused, 27-town economic development strategy. That allowed the region to create a 2014-2019 S.M.A.R.T. Comprehensive Economic Development Strategy (CEDS) that was submitted and accepted by the EDA.
Working with ViTAL Economy consultants utilizing the SMART CEDS and Project Ranking Model™, SeVEDS embarked on a yearlong public input and data-driven community economic development initiative, culminating in an action plan for supporting growth in the region’s economy and mitigating the impacts of the VY closure.
The final CEDS is a regional strategic document that tells the area’s story and economic vision in a vibrant graphic presentation. It includes the 12 Vital Projects as determined by the region using the VE SMART CEDS Project Ranking Model. The Model, with VE guidance, assisted in the disciplined analysis of 52 projects from the public and private sector and regional non-profits, which were submitted for inclusion in the CEDS. These projects were ranked according to their likelihood of aiding economic growth by an independent panel of private sector, education and nonprofit CEOs. Now that the region has the CEDS Project Ranking Model in place, it is simple to update yearly, track project progress and add new projects.
The CEDS helps the region’s projects to score higher on applications for federal funding.
SeVEDS recently extended its contract with ViTAL Economy to develop implementation and funding schedules for the CEDS. It announced that updated and new projects can be submitted for inclusion in the CEDS through September 30th, 2014.