CAPITAL AREA ECONOMIC DEVELOPMENT DISTRICT (CAPEDD) OF OKLAHOMA RELEASES 2021 UPDATE TO COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS) THAT FOCUSES ON PANDEMIC ECONOMIC RECOVERY
Plan Update is a Strategic Blueprint with New Priorities Based on the Pandemic’s Impact on Central Oklahoma
OKLAHOMA CITY –- To ensure that the four-county Capital Area Economic Development District (CAPEDD) of Oklahoma is equipped with a resiliency and recovery plan for future COVID-type disasters, the Association of Central Oklahoma Governments (ACOG) utilized EDA Cares Act grant funds to pursue a tactical update of its 2019 Comprehensive Economic Development Strategy (CEDS).
A strategic blueprint for regional economic development, CEDS is designed to guide the economic prosperity and resiliency of a region. “Our 2021 CEDS update turned out to be a valuable supplement to the 2019 update,” Mark W. Sweeney, AICP, ACOG Executive Director said. “This new addition focuses on innovative priorities based on the pandemic’s impact and views its strategies through a new critical lens.”
ACOG contracted with Thomas P. Miller and Associates (TPMA) to provide an update to its current strategy. During the fall of 2020, TPMA conducted in-person and virtual meetings with ACOG’s CEDS Advisory Committee to provide critical feedback about ways to achieve economic stabilization and resiliency for ACOG’s communities during and after the pandemic.
“We work with regional economic development organizations across the country, and the ACOG CEDS Steering Committee was one of the best and most comprehensive groups we have ever had the honor to work with. It truly represented all facets of local government, utilities, universities, and businesses. This generated true cross-collaboration at all levels of economic development critical to ACOG’s regional success,” Matt Rueff, TPMA Director Economic & Community Resiliency said.
The results of these meetings generated updated CEDS goals and with an emphasis on the following key elements: Infrastructure, Resiliency, Innovation, Healthy Communities and Government Agility. The update also includes a target industry analysis, and emphasis on research and best practices review along with an implementation matrix.
“This CEDS update reflects the critical needs of our 49 communities to be flexible, innovative, and to not be afraid to lead their community out of this pandemic calamity,” Sweeney said. “Working collaboratively with partners who have a shared vision, passion, and creative mindset, this COVID-updated CEDS provides our local officials the resources, tools and guidance to implement this crucial resiliency initiative.”
The results of this partnership produced an updated CEDS that presents fresh, actionable strategies that ACOG has already been able to deploy during this process. This includes the competitive Comprehensive Economic Resiliency Initiative (CERI) Program, and the Rural Local Initiatives Support Corporation (LISC) minority and small business development initiative.
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