ACOG Unveils 2024 Comprehensive Economic Development Strategy (CEDS) for Central Oklahoma

The Association of Central Oklahoma Governments (ACOG) has officially released the 2024 Comprehensive Economic Development Strategy (CEDS), marking the culmination of a multi-year effort to shape the economic future of the four-county Capital Area Economic Development District (CAPEDD) of Oklahoma. This regional strategy is a vital tool for guiding economic growth, fostering resilience, and promoting equity across the region.

The 2024 CEDS builds upon the foundation of the 2019 CEDS and the 2021 COVID-19 Strategic Update. Every five years, the Economic Development Administration (EDA) mandates a major update to the CEDS for designated Economic Development Districts. ACOG began the process in 2023, engaging community and business leaders to craft a comprehensive plan that identifies the region’s strengths and weaknesses, targets new and expanding industries, and develops strategies to address potential economic challenges.

To enhance the development process, ACOG formed an expanded CEDS Advisory Committee. This diverse group included private sector stakeholders, nonprofits, and public sector representatives, such as elected officials from member communities, workforce development professionals, higher education leaders, and other government officials.

The 2024 CEDS Update Process

  1. Discovery Phase – This phase included site visits, economic research, stakeholder interviews, and benchmarking sessions with CEDS Advisory Committee members.
  2. Opportunity Phase – A visioning process was conducted to identify target industries and set regional goals and strategies. An MBA student from the University of Oklahoma Gene Rainbolt Graduate School of Business contributed valuable research and data analysis.
  3. Stakeholder Engagement Phase – A SWOT Analysis Workshop in August 2024 informed an extensive community-wide survey, open from September 13 to November 1, 2024. The survey, promoted online and through direct outreach, garnered 139 responses from community stakeholders.
  4. Implementation Phase – This phase focuses on putting the strategy into action, identifying specific actions and resources needed to achieve the region’s vision.

Primary Goals of the 2024 CEDS

  • Goal One: Focus on cost-of-living affordability and quality of life to support continued regional growth.
  • Goal Two: Strengthen regional workforce development.
  • Goal Three: Through regional collaboration, solidify economic gains while advancing equitable efforts to diversify the economy and enhance regional competitiveness in both urban and rural areas.

A Blueprint for Growth

The updated CEDS emphasizes a strong regional vision, highlighting growth over the past 3-5 years while addressing key areas such as workforce development, resilience, and equity. The plan outlines strategic partnerships and metrics to evaluate progress toward achieving the region’s goals.

For more information and to view the full 2024 CEDS document, read the document below.

For optimal viewing, please click on the four arrow option in the white box above. This will allow you to read the CEDS in full screen mode. When complete, press ESC on your keyboard to return to this page.

Translate »