Public Forum for Regional Economic Development Strategy

Please join us to discuss the process of qualifying the Rockford Metropolitan Statistical Area (Boone and Winnebago Counties) for additional federal economic development funds. This forum will introduce the Comprehensive Economic Development Strategy (CEDS) document draft and its basic elements including the Area’s project priorities. Committee members will be available to engage feedback. This event is free and open to the public.

To view the document, click here.

WHEN
Wednesday, July 15, 5:30-7:00 PM

WHERE
NIU Rockford - Room 100
8500 East State Street
Rockford, IL 61108

WHY
The CEDS organizes a regional strategy for economic development to build a stronger, more diverse economy. The CEDS provides a regional economic development framework as well as a vehicle through which some federal agencies evaluate requests for grant assistance. Having a United States Economic Development Administration (EDA) approved CEDS plan allows the region to be eligible to receive Economic Development Assistance Grants, including the Stimulus Funds from the EDA. Having a CEDS in place offers another tool for leveraging federal funds with local match to achieve more economic development projects. An EDA-approved Economic Development District (EDD) is in the process of being created for the two counties to function as the regional economic development planning body and oversee the ongoing CEDS scope of work. This will include ensuring measurement and accountability of regional economic development indicators and statistics, complying with the Economic Development Administration's CEDS planning requirements, and maintaining an operational budget.