[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR303.7]

[Page 612-613]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 303_PLANNING INVESTMENTS AND COMPREHENSIVE ECONOMIC DEVELOPMENT 
 
Sec.  303.7  Requirements for Comprehensive Economic Development Strategies.

    (a) General. CEDS are designed to bring together the public and 
private sectors in the creation of an economic roadmap to diversify and 
strengthen Regional economies. The CEDS should analyze the Regional 
economy and serve as a guide for establishing Regional goals and 
objectives, developing and implementing a Regional plan of action, and 
identifying investment priorities and funding sources. Public and 
private sector partnerships are critical to the implementation of the 
integral elements of a CEDS set forth in paragraph (b) of this section. 
As a performance-based plan, the CEDS will serve a critical role in a 
Region's efforts to defend against economic dislocations due to global 
trade, competition and other events resulting in the loss of jobs and 
private investment.

[[Page 613]]

    (b) Technical requirements. A CEDS must be the result of a 
continuing economic development planning process, developed with broad-
based and diverse public and private sector participation, and shall 
contain the following:
    (1) A background of the economic development situation of the Region 
with a discussion of the economy, population, geography, workforce 
development and use, transportation access, resources, environment and 
other pertinent information;
    (2) An in-depth analysis of economic and community development 
problems and opportunities, including:
    (i) Incorporation of relevant material from other government-
sponsored or supported plans and consistency with applicable State and 
local workforce investment strategies; and
    (ii) An identification of past, present and projected future 
economic development investments in the Region covered;
    (3) A section setting forth goals and objectives necessary to solve 
the economic development problems of the Region;
    (4) A discussion of community and private sector participation in 
the CEDS effort;
    (5) A section listing all suggested Projects and the projected 
numbers of jobs to be created as a result thereof;
    (6) A section identifying and prioritizing vital Projects, programs 
and activities that address the Region's greatest needs or that will 
best enhance the Region's competitiveness, including sources of funding 
for past and potential future Investments;
    (7) A section identifying economic clusters within the Region, 
focusing on those that are growing or in decline;
    (8) A plan of action to implement the goals and objectives of the 
CEDS, including:
    (i) Promoting economic development and opportunity;
    (ii) Fostering effective transportation access;
    (iii) Enhancing and protecting the environment;
    (iv) Maximizing effective development and use of the workforce 
consistent with any applicable State or local workforce investment 
strategy;
    (v) Promoting the use of technology in economic development, 
including access to high-speed telecommunications;
    (vi) Balancing resources through sound management of physical 
development; and
    (vii) Obtaining and utilizing adequate funds and other resources; 
and
    (9) A list of performance measures used to evaluate the Planning 
Organization's successful development and implementation of the CEDS, 
including but not limited to the following:
    (i) Number of jobs created after implementation of the CEDS;
    (ii) Number and types of investments undertaken in the Region;
    (iii) Number of jobs retained in the Region;
    (iv) Amount of private sector investment in the Region after 
implementation of the CEDS; and
    (v) Changes in the economic environment of the Region; and
    (10) A section outlining the methodology for cooperating and 
integrating the CEDS with a State's economic development priorities.
    (c) Consideration of non-EDA funded CEDS. (1) In determining the 
acceptability of a CEDS prepared independently of EDA Investment 
Assistance or oversight for Projects under parts 305 and 307 of this 
chapter, EDA may in its discretion determine that the CEDS is acceptable 
without fulfilling all the requirements of paragraph (b) of this 
section. In doing so, EDA shall consider the circumstances surrounding 
the application for Investment Assistance, including emergencies or 
natural disasters and the fulfillment of the requirements of section 302 
of PWEDA.
    (2) If the CEDS for a Project under parts 305 and 307 of this 
chapter is developed under another federally-supported program, it must 
include acceptable performance measures similar to those set forth in 
paragraph (b) of this section and information on the state of the 
Regional economy. To the maximum extent practicable, the CEDS shall be 
consistent and coordinated with any existing economic development plan 
for the Region.