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CCRPC reviews draft West Central Vermont CEDS to qualify region for EDA funding
Summary
CCRPC staff introduced a draft Comprehensive Economic Development Strategy for West Central Vermont aimed at compiling regional economic data, encouraging collaboration across municipalities and enabling formation of an Economic Development District required for Economic Development Administration funding; staff expects EDA approval in June 2023.
Taylor Newton, Planning Program Manager, presented the draft West Central Vermont Comprehensive Economic Development Strategy (CEDS) and said its purpose is to provide more detailed economic data across a wider geography, encourage collaboration with regional partners and position the region to form an Economic Development District (EDD) that would allow municipalities to apply for Economic Development Administration grants.
Newton said approval by the EDA is anticipated in June 2023. PAC members suggested content refinements: Alex Weinhagen recommended adding indicators such as unemployment rates by race and ethnicity and measures of business ownership under Goal 2, and suggested adding graduation rates to Goal 4. The PAC did not take formal action on the draft but asked staff to incorporate feedback ahead of EDA submission timelines.
Why it matters: An adopted CEDS and an EDD enable access to EDA programs such as Public Works and Economic Adjustment Assistance, which can fund infrastructure and economic recovery or adjustment projects. CCRPC staff said forming an EDD is a prerequisite for municipalities within the region to be eligible for those EDA funds.
Next steps: Staff will refine the draft to reflect PAC input and proceed with EDA application steps aimed at a June 2023 approval window.
