Title
a. Receive a presentation from Grow America and CVL Economics on the Comprehensive Economic Development Strategy (CEDS) year three (3) annual update; and
b. Authorize the County Administrative Officer or designee to submit the CEDS year 3 annual update to the U.S. Department of Commerce, Economic Development Administration.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Receive a presentation from Grow America and CVL Economics on the Comprehensive Economic Development Strategy (CEDS) year three (3) annual update; and
b. Authorize the County Administrative Officer or designee to submit the CEDS year 3 annual update to the U.S. Department of Commerce, Economic Development Administration.
SUMMARY:
In June 2021, the County of Monterey (County) released the CEDS for the period of 2021-2026. The County must prepare a new CEDS at least every five years for local communities and organizations to qualify for U.S. Economic Development Administration (EDA) funding. More broadly, the CEDS development process provides a vehicle for regional stakeholders including but not limited to community-based organizations, nonprofits, organized labor, local governments, academic institutions, and private industry to chart a path towards greater economic wellbeing. This document serves as the year three (3) update to the economic analysis conducted in the most recent CEDS. The Year 3 update presents new data analysis to provide a snapshot of the current economic landscape across the County and to inform near-term economic development planning.
On January 7, 2025, the Board approved an agreement with Grow America to perform all tasks necessary to conduct a Year 3 CEDS update for the County.
Work on Year 3 Update began in January 2025 with data analysis update for the three target sectors (Agriculture, Tourism & Hospitality, and Health Care). The focus of this year’s update to Monterey County’s CEDS builds on previous years’ look at the county’s emer...
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