2024 Comprehensive Economic Development Strategy

As an Economic Development District, designated by the U.S. Economic Development Administration (EDA), Cape Cod must develop and maintain a Comprehensive Economic Development Strategy (CEDS) every five years. The next CEDS is under development and will be completed by June 2024. 

To support development of the 2024 CEDS, the Cape Cod Commission hosted an economic summit on March 5, 2024 at the Cape Cod Museum of Art. This was a critical component in obtaining stakeholder input to guide the CEDS. It included presentations from a wide variety of speakers and culminated with breakout groups to inform development of an action plan to achieve the region's economic vision and goals. In April, several focus groups will work to refine the action plan. A draft of the new CEDS will be available for public comment in May with a final version completed in June. The Barnstable County Economic Development Council (BCEDC), which serves as the CEDs strategy committee, and the Cape Cod Commission must approve submission of the CEDS to EDA.

Draft Vision 

A strong and vibrant Cape Cod 

A region that supports a resilient, inclusive, and diverse year-round community with access to housing options, high quality business, education, and employment opportunities, and thriving natural resources, building upon the historic and unique characteristics that have drawn people to the region for centuries.

Draft Goals

Housing Attainability

Provide an adequate supply of ownership and rental housing that is attainable for a range of incomes and meets the needs of year-round residents and employees.

Community

Strengthen the sense of community by protecting and enhancing the region’s historic assets and cultural resources, fostering greater civic engagement, and supporting local businesses, entrepreneurs, and people of all ages and abilities.

Infrastructure

Invest in infrastructure that provides safe access to, from, and within the region, ensures effective telecommunications, and facilitates compact development patterns protective of natural resources and sensitive to climate considerations.

Natural Resources

Protect and restore the region’s iconic and vital natural and coastal resources, which contribute to and impact the local and regional economy.

Workforce Development

Support and grow a talented and diverse local workforce with access to education and training aligned with essential and emerging industry needs.

Economic Diversity and Resiliency

Foster diverse and innovative industries that capitalize on Cape Cod’s competitive advantages and will improve the region’s resiliency in the face of current and future challenges.

Draft Actions

• Incentivize Year-round Housing

• Simplify Appropriate Housing Development

• Provide Opportunities for Organizations and Entrepreneurs to Pilot Ideas

• Support Year-round Community Activity and Civic Engagement

• Develop and Connect Students and Workforce to Educational and Training Opportunities

• Identify and Support Growing Industries in the Region

• Invest in Water Quality and Wastewater Infrastructure

• Invest in Broadband Infrastructure

• Advocate for the Canal Bridges Replacements

• Advance Climate Change Resiliency

Evaluation Framework

Evaluation of progress on the CEDS will involve three types of metrics or indicators: macro level, programmatic, and qualitative. Macro level indicators are high-level data that is collected regularly. Macro indicators may not change significantly in short amounts of time (e.g., one year) but they are important in understanding the region generally and its trends. Programmatic indicators are related directly to the implementation and administration of efforts and initiatives that are important to the CEDS (e.g., completing an analysis or convening stakeholders). Qualitative indicators may be updated less regularly and may not be comparable over time but rather include contextual information about progress on key initiatives of the CEDS. Qualitative indicators will arise naturally from the work done to advance the CEDS and so are not identified here. The indicators below will help illustrate the region’s progress toward achieving its economic vision and goals and where new or expanded planning and action may be needed.