For Immediate Release: July 29th, 2014
for more info contact Laura Sibilia, Director of Economic Development BDCC at email@example.com
Southeastern Vermont economic development action plan accepted by US Economic Development Administration
Meeting for CEDS project submitters and projects seeking VY funding August 14th
WINDHAM COUNTY, VT – On Friday July 25th, the Brattleboro Development Credit Corporation (BDCC) was notified that the region’s 2014-2019 S.M.A.R.T. Comprehensive Economic Development Strategy has been accepted by the United States 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. The region’s request to EDA to be allowed to develop the CEDS cited a twenty year economic decline, the immense economic wounds from flooding in 2011 and the impending (but at the time announced) closure of the Vermont Yankee power plant.
Working with CEDS consultants from ViTAL Economy, SeVEDS embarked on a yearlong public input and data driven research initiative, culminating in an action plan for supporting growth in the region’s economy and mitigating the impacts of the VY closure. The final assembly of the region plan included 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 likelihood to help achieve the region’s goals and strategies for growing the economy, by an independent panel of private sector, education and nonprofit CEOs. The project list is updated every year to reflect in progress, completed and new project.
One of the oft cited reasons by SeVEDS for undertaking CEDS development is that the regions projects are able to score higher on applications for federal funding due to the presence of the CEDS. In the letter informing the region of the CEDS acceptance, the EDA Philadelphia Region office highlighted that rationale.
“The priorities and focuses outlined within your CEDS document will help form the foundation of how EDA reviews applications for Public Works and Economic Adjustment Assistance Programs from your region. We greatly appreciate the work of the Brattleboro Development Credit Corporation Board and CEDS Committee to develop this innovative, regionally-driven economic development strategy. EDA looks forward to continuing to work with you to help support the goals and priorities outlined in your recently submitted CEDS.”
SeVEDS has recently extended its contract with ViTAL Economy to develop implementation and funding schedules for the CEDS and has announced an open submissions period through September 30th for updating and submitting new projects for inclusion in the CEDS http://seveds.com/wp-content/uploads/2013/06/CEDS-projects-announcement-20144.docx
A regional public discussion and question and answer session regarding the process of implementing a regional CEDS as well as development and funding of CEDS projects has been scheduled for Thursday August 14th from 6:30 – 8:00 pm at the River Garden in downtown Brattleboro.
BDCC and SeVEDS representatives as well as Frank Knott from Vital Economy will be facilitating the discussion. This will be an informative meeting for those entities who will be updating existing or submitting new CEDS projects as well as those considering applying for VY economic development funding which requires projects address one of the goals or objectives the region established for the CEDS. Please RSVP to ensure adequate space http://www.eventbrite.com/rss/user_list_events/45872168065
View the 2014 – 2019 Windham Region S.M.A.R.T. CEDS at http://seveds.com/wp-content/uploads/2012/08/FINALCEDSReport.2013.pdf
More information on the CEDS project selection process can be found at http://seveds.com/ceds-projects/