New Standards Issued for Regional Economic Development Plans

The U.S. Economic Development Administration (EDA) has issued new guidance for required Comprehensive Economic Development Strategy plans (CEDS). The new guidance is intended to clarify how CEDS will comply with new Executive Orders and give direction for preparing these required plans.

According to the new guidance, CEDS that are in-cycle for required updates and in any stage of development before EDA final approval should have all references to and sections about equity and climate change removed from the document. Previously approved CEDS are not required to be revised until they are due for updating. Voluntary changes are allowed as part of an annual review process. However, as part of the regular five-year update, grantees will be required to make changes to comply with new guidance.

Here's what planners should know about the updated guidance:

• Updated guidance continues to require a section focused on "economic resilience".
• Directives for incorporating pre-disaster recovery planning remain.
• A section on "workforce development" remains a required element.
• The section on "climate resilience" that was required as part of the 2023 guidance has been removed.
• The 2023 guidance required an equity section focused on both process and identified strategies. Those elements have been eliminated.

Regions must update their CEDS at least every five years to qualify for EDA assistance under its Public Works and Economic Adjustment Assistance programs. In addition, a CEDS is a prerequisite for designation by EDA as an Economic Development District (EDD).