Federal Grant will Facilitate Update of Comprehensive Economic Development Strategy for the Region

Tampa Bay Regional Planning Council will work with public and private sectors to update plan

The U.S. Department of Commerce’s Economic Development Administration has awarded the Tampa Bay Regional Planning Council a planning investment grant to support the process of updating the Comprehensive Economic Development Strategy (CEDS) for the Tampa Bay region.

The Economic Development Administration directs each designated Economic Development District to develop and maintain a CEDS with the assistance of public involvement. Economic Development Districts are required to fully update the CEDS every five years and may elect to update the CEDS on an annual basis. The Tampa Bay Economic Development District has routinely updated its CEDS every three years.

Citrus, Hernando, Hillsborough, Manatee, Pasco, and Pinellas counties are included in the process, designed to bring together the public and private sectors in creating an economic development road map to diversify and strengthen the regional economy.

The three-year $210,000 federal grant will help the Planning Council update strategies designed to help the area’s municipalities and businesses work together towards common goals. The Planning Council works closely with area economic development groups and others in ensuring that strategies match the needs of area businesses.

Much of the analysis is framed by the Six Pillars, an approach to goal organization promulgated by the Florida Chamber. The Six Pillars classifies groupings of characteristics of economic growth – talent supply, innovation, infrastructure, business climate, governance and quality of life – to organize how the region and state approach both the subject of and accountability for economic development.

“The Planning Council is grateful for our U.S. congressional representatives who helped to secure this federal funding,” said Sean Sullivan, Executive Director of the Planning Council. “This gives us the opportunity to compile current information on the local economy and workforce, which is critical knowledge to have in recommending effective economic development strategies.”

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