STRATEGY & ACTION PLANS
As the designated Economic Development District, it is our responsibility to develop, maintain, and update the region’s Comprehensive Economic Development Strategy (CEDS). A CEDS is updated every three to five years, and must exist to retain status as an Economic Development District. This type of comprehensive strategic planning empowers elected officials and regional economic developers in their mission to grow the region.
The current CEDS outlines an approach to coordinate growth and prosperity that builds on the region’s strengths, prioritizes key regional industry clusters, and emphasizes collaboration. This plan reflects a holistic, modern view of economic development. While global business recruitment is one part of the initiative going forward, there is a wider approach needed that includes business retention and expansion, entrepreneurship, talent and product development. With additional focus on quality-of-life factors and economic mobility, these components comprise an optimal community spectrum for securing the future health and prosperity of the region.
ACTION PLANS
GOAL 1: CREATE & MAINTAIN A GLOBALLY COMPETITIVE REGION
Promoting disruptive technologies has the potential to create new business models for almost every industry, from construction and manufacturing to product distribution, to business services and health care.
TACTIC 1: BOOST ENTREPRENEURIAL DEVELOPMENT
- Assess current educational programs and fill in identified gaps.
- Promote public and private venture capital through alliances among regional business organizations.
- Engage with the entrepreneurial population directly to create business events in order to retain them in the region.
- Determine what entrepreneurial resources are missing and work with stakeholders to rectify.
Partners for Success
Workforce Board |
Chambers of Commerce |
Community Colleges and Universities |
K-12 Institutions; CTE Staff |
Small Business Development Centers |
Main Street Organizations |
TACTIC 2: ATTRACT MORE INDUSTRIES TO THE REGION
- Convene an annual meeting of regional EDCs to formulate marketing initiatives.
- Execute complete supply chain analysis of key clusters to identify gaps; and evaluate clusters quarterly.
- Improve global competitiveness by hosting workshops with federal, state, and local funding agencies that provide assistance to businesses.
Partners for Success
Chambers of Commerce |
County Economic Development Staff |
EDPNC |
GSLI Economic Development Consultants |
Universities, Community Colleges |
TACTIC 3: DEVELOP THE REGION’S INTERNATIONAL COMPETENCY
• Convene annual meetings to encourage engagement with current international, ethnic and minority populations, helping to enhance economic and social opportunities.
• Undertake assessment of existing cultural barriers and gaps that impact international visitors and investors.
• Hold planning meetings with local EDCs and Chambers to develop marketing strategies that engage networks of small businesses that could benefit from collaboration (tourism, agriculture and food products, etc.)
• Develop materials that advocate for the transfer of educational credentials of international workers and immigrants.
Partners for Success
Chambers of Commerce |
Regional Cultural Organizations |
County Economic Development Staff |
Universities |
Community Colleges |
GOAL 2: DEVELOP, RETAIN, AND ATTRACT TALENT WITH CRITICAL DEMAND COMPETENCIES AND EDUCATION
Efforts to recruit, prepare, and retain a world-class workforce require a vision implemented through regional cooperation. And if we want to compete for talent globally, we need to enhance and promote the international diversity of existing regional businesses.
TACTIC 1: INCREASE COLLABORATION BETWEEN EDUCATIONAL INSTITUTIONS
• Develop a regional system for promoting and tracking career pathway training and attainment.
• Promote educational opportunities for defined career paths in high-growth industries.
• Develop an outreach campaign targeting middle and high school students that promotes middle-skill career opportunities.
• Develop materials that promote the value of universal career pathway systems.
Partners for Success
National/Regional Cultural Organizations |
Faith-based Network |
Community Colleges |
Universities |
Chambers of Commerce |