Economic Development

EDA’s Mission: To lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.

Through a planning grant provided by the U.S. Department of Commerce, the Economic Development Program develops and maintains the Comprehensive Economic Development Strategy (CEDS) for the region. A group of local leaders from all sectors of the population guides the process. In addition, grants are packaged for public works projects and technical assistance.

2016-2021 CEDS CEDS Annual Report 2017 DevelopMN 2016 Plan

CEDS Cornerstones

Human Capital

Tracking the characteristics of the labor force and the needs of employers, and creating strategies for alignment between the two, are the foundation for this cornerstone.

Economic Competitiveness

Making Greater Minnesota an attractive environment for growth is critical to creating jobs, improving living standards and financing necessary public services.

Community Resources

Includes topics that balance the preservation and improvement of local social, cultural and natural assets that are critical for the future.

Foundational Assets

Include above ground and below-ground infrastructure such as transportation, utilities and water.

Develop MN is an initiative of the Minnesota Association of Development Organizations (MADO) who in 2015 released a plan outlining collaborative strategies for growth and prosperity in greater Minnesota. The UMVRDC shared in the development of the CEDS plan and will continue to actively participate in the implementation bringing new opportunities, alliances and resources to the UMVRDC region. This plan for greater Minnesota creates the frame work that all regions will use to update their local Comprehensive Economic Development Strategies (CEDS).

Through the DevelopMN process the following cornerstones were identified as key components of strong regions and communities. When used in the CEDS and approached in a coordinated way, these cornerstones will help create prosperity in the UMVRDC region and throughout Greater Minnesota.

For more information contact Kirk Bustrom:
Kirk@umvrdc.org || 320-289-1981 ext. 111

Resources:

MnDOT Capital Loan