CAPCOG, in its capacity as the Capital Area Economic Development District (CAEDD), is developing the Comprehensive Economic Development Strategy (CEDS) required by the Economic Development Administration. The CEDS is a five-year, regional economic plan.
During the past few months, a CEDS committee, led by CAEDD chair and Austin Council Member Jimmy Flannigan, has collaborated to review updated socio-economic, demographic and economic trends in the ten-county region. The committee is a CAEDD working group comprised of representatives from workforce boards, higher education, industry experts, local elected officials, and economic development directors. The data review informed a robust discussion about the strengths, weaknesses, opportunities, and threats (SWOT) analysis that will develop the regional economic strategies in the plan to encourage economic prosperity.
“The CEDS committee has been thoughtful and comprehensive in how they’ve approached the regions next five-year economic strategy,” said Rachel Steele, CAPCOG Community and Economic Development director. Developing the CEDS is a data driven process, and the CEDS Committee has examined a variety of metrics across all ten counties on housing, wages and affordability, employment, population growth, educational attainment, and industry growth. The committee also has been deliberate in evaluating the impacts of the Stay Home orders issued across the region and intends to address greater economic resiliency in the plan. The orders occurred just as the committee began developing regional priorities from the recent SWOT analysis.
