This summer, PWSEDD will be submitting our annual CEDS update, and we want your help in crafting it to reflect our shared vision and goals for the region.
Have you ever wondered what guides PWSEDD’s mission to strengthen our regional economy? Our Comprehensive Economic Development Strategy, or CEDS, is at the heart of our efforts and serves as a critical framework for guiding our region toward sustainable growth.
We ask that you support our work in keeping PWSEDD's CEDS current by completing a short, 6-question survey. This will help us assess which of our CEDS objectives you see as priorities for fostering a resilient PWS economy, and hear what ideas you have for supporting continued economic development.
What is a CEDS?
The CEDS is a 5-Year Plan that outlines a region’s current demographic and economic conditions, provides an analysis of economic and community development strengths, weaknesses, opportunities, and threats, establishes goals that build on the region’s unique assets, and produces an action plan of key projects. It’s a regionally owned roadmap designed to build capacity (including hard infrastructure and soft skills), guide economic prosperity and resilience, and identify priorities for future investment. CEDS are overseen by the EDA, and their development is considered an essential step for any Economic Development District to receive federal economic development grant funding.
The 5-Year CEDS for the PWSEDD was completed in September 2021 and covers the period 2021-2025. You can view the 2021-2025 PWSEDD Comprehensive Economic Development Strategy here, and a 2-page summary document here.
The three overarching goals of PWSEDD’s current CEDS include:
Goal A: Improvement and Development of Critical Infrastructure
Improve regional connection by enhancing transportation and utilities infrastructure. Enhance infrastructure to build resilience to climate change, increase economic development opportunities, and enrich the way of life in Prince William Sound.
Goal B: Workforce Development
Boost the regional continuum of education from early childhood learning through post-secondary opportunities. Enhance employability skills and adapt to the evolving opportunities of regional economic development through education and training.
Goal C: Strengthen Existing Industries and Diversify Economy
Seek business development and support entrepreneurs’ investment to promote regional industry growth, responsible resource development, and economic diversity. Attract business opportunities to the region that support employment opportunities in every season.
In addition to 5-Year Plans, Economic Development Districts are expected to submit annual updates that track progress toward the identified goals, and provide a general update on the region’s opportunities and economic conditions. A CEDS Annual Update is not required to cover every objective outlined in the 5-Year CEDS, but is focused on making targeted additions to ensure that the goals and action plan are still consistent with regional interests and opportunities.
How You Can Help:
This summer, PWSEDD will be working on our 2024 Annual CEDS Update, and we want your input on where we should focus our efforts in shaping our region’s economic future. We ask that you support this effort by completing a short, 6-question survey. This will help us assess which of our CEDS objectives you see as priorities for fostering a resilient PWS economy, and hear what ideas you have for supporting continued economic development. We are striving for a CEDS update that identifies where in our current CEDS needs refreshing with new economic opportunities and short-term goals. Participating in this survey is part of a community effort to build a better future for Prince William Sound and its residents. We thank you in advance for your support!
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