Where Are We Going?
Comprehensive Economic Development Strategy: A Blueprint for Success
The Heart of Texas Economic Development District (HOTEDD) is designated as an Economic Development District (EDD) by the U.S. Department of Commerce, Economic Development Administration (EDA). Current members of the EDD are Bosque, Falls, Freestone, Hill, Limestone and McLennan Counties.
The EDA provides financial assistance to designated districts in part for the purpose of developing a Comprehensive Economic Development Strategy (CEDS), the region’s economic guidebook to diversify and strengthen the regional economy.
As a designated Economic Development District, HOTEDD is responsible for preparing and adopting a CEDS document at least every five years. The CEDS planning process is performed by the HOTEDD CEDS Committee. HOTEDD provides the organizational structure for the formulation of the CEDS and serves as a regional coordinating body. The Heart of Texas Economic Development District Comprehensive Economic Development Strategy is approved and adopted by the HOTEDD Board of Directors which also serves as the HOTEDD CEDS Committee.
The purpose of the CEDS is multi-faceted:
- The CEDS is designed to provide baseline information on demographics and economic data, economic development strategies and implementations plans, and identify potential projects within the region.
- Preparation and adoption of the CEDS maintains both the region’s EDD designation and grant eligibility for those participating units of government. Entities interested in applying for project grants under the EDA’s Public Works and Economic Adjustment Programs must demonstrate how the investment fits into the regional CEDS.
- The CEDS is a working document used by both the public and private sectors to provide leadership with a current picture of the economic state and trajectory of the region.