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Cape Cod launches ambitious economic development strategy

August 22, 2024 | Town of Yarmouth, Barnstable County, Massachusetts


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Cape Cod launches ambitious economic development strategy
During a recent government meeting, Chairman Stone paid tribute to Mike, a long-serving public servant, highlighting his remarkable dedication over four decades and his supportive role in navigating complex projects. The meeting then shifted focus to economic development, featuring a presentation from Senatorius, the executive director of the Cape Cod Student Mission, and Erin Perry, the deputy director.

Senatorius introduced the updated Comprehensive Economic Development Strategy (SEDS) for Cape Cod, a five-year strategic plan aimed at fostering sustainable economic growth in the region. This plan is essential for maintaining the region's designation as an economic development district, which allows for eligibility in federal funding opportunities.

The SEDS outlines key components required by the Federal Economic Development Administration, including an economic conditions summary, an opportunities analysis, and a focus on economic resilience. The plan emphasizes the importance of understanding the region's demographics, noting a significant increase in the population aged 65 and over, which now constitutes about a third of the year-round residents.

The presentation detailed the region's economic landscape, identifying top industries such as accommodations, food services, healthcare, and retail trade. It also highlighted the need for improved housing attainability to support the workforce essential for a vibrant year-round economy.

Key goals of the SEDS include enhancing community engagement, improving infrastructure, and protecting natural resources. The plan aims to address housing challenges, strengthen community ties, and ensure adequate infrastructure for transportation and broadband access. Additionally, it emphasizes workforce development and the need to support emerging industries.

The action plan outlines ten strategic initiatives to be prioritized over the next five years, focusing on incentivizing year-round housing, fostering civic engagement, and investing in critical infrastructure, including wastewater and broadband systems. The meeting concluded with a commitment to advancing climate change resiliency efforts, ensuring that the region is prepared to address environmental challenges moving forward.

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