Title
Receive an overview from CVL Economics regarding the 2027-2032 Comprehensive Economic Development Strategy (5-Year CEDS).
Report
RECOMMENDATION:
It is recommended that the Economic Development Committee:
Receive an overview from CVL Economics regarding the 2027-2032 Comprehensive Economic Development Strategy (5-Year CEDS).
SUMMARY:
The 2027-2032 Comprehensive Economic Development Strategy (5-Year CEDS) will provide the County of Monterey with a forward-looking roadmap for economic growth, resilience and regional competitiveness over the next five years. Specifically, the strategy will examine how Monterey County can position itself within a rapidly evolving economic landscape shaped by technological change, shifting workforce dynamics and climate pressures.
The strategy will build on the County of Monterey’s economic foundations while deliberately moving beyond the traditional sector silos such as tourism, agriculture, and health care. Instead, the 5-Year CEDS will take a cluster and ecosystem-based approach focused on how innovation, talent, infrastructure, and entrepreneurship intersect to create new economic opportunity. The goal is to identify cross-cutting initiatives that leverage the county’s existing strengths while generating higher-wage employment, strengthening workforce pipelines, and attracting new investment.
DISCUSSION:
The process and final document will align with current Economic Development Administration (EDA) CEDS guidelines while prioritizing a concise, action-oriented strategy with clear implementation responsibilities, measurable outcomes, and resilience considerations integrated throughout. The resulting strategy will provide the County of Monterey with a practical framework for coordinating economic development efforts across jurisdictions, institutions, and industry partners. Strategy development will occur over the span of 18 months and include the tasks below:
Phase 1 - Project Initiation
Phase 2 - Economic Context
Phase 3 ...
Click here for full text