5-year update to Cape-wide economic development strategy under way

Sep 21, 2018

It’s time to renew the Cape’s vision for its economic future.

In 2009 Cape Cod achieved national recognition for its Comprehensive Economic Development Strategy (CEDS) and was subsequently designated as a Federal Economic Development District by the U.S. Economic Development Administration. With this important designation, the region attracted millions of federal dollars in investment for regional infrastructure, industry cluster development and planning for economic expansion and business development.

The CEDS serves as the economic development blueprint for the region. It puts forth a positive regional vision, defines economic development goals and delivers an action plan for achieving these goals.

In support of this designation, the Barnstable County Economic Development Council (BCEDC) will lead the 2019 update of the CEDS. Beginning this fall, the BCEDC will work with regional leaders to create an actionable strategy, building on the Cape’s assets and actively turning challenges into opportunities to create the resilient economy of the future.

Stakeholder participation will be an integral part of the process, involving representatives of business, government, and the workforce and tapping the knowledge of regional non-profits, educational institutions, community organizations and associations. The outreach strategy is currently under development and will, like the CEDS, revolve around answering these basic questions:

Where have we been and where are we today?
Where do we want to be in 2040, and how will we get there?
How will we know if we are making progress?

In answering these questions, the strategy will be grounded in the reality that the Cape Cod economy must be diverse enough and businesses prepared enough to withstand economic and natural shocks and come out the other side even better and stronger.

Progress on the CEDS update can be tracked through the Cape Cod Commission website, capecodcommission.org/ceds, and this publication.