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<br />----------------------- <br /> <br />CentralÎnä Reglonalêómþré~ehsi"éEcônomic Dåvelópnlent strategy FINAL DRAFT <br /> <br />Project Summary <br /> <br /> <br />~ <br /> <br />, <br /> <br />~ <br /> <br />Background - <br />The purpose of a Comprehensive Economic Development Strategy (CEDS) is to identify regional economic development strategies <br />which communities within a region can implement collaboratively to bring about sustainable economic prosperity. The intent of the <br />Centralina Regional CEDS Project was to develop an economic development strategy for the nine-county area comprising the <br />Centralina Council of Governments (COG), including the counties of Anson, Iredell, Rowan, Cabarrus, Lincoln, Stanly, Gaston, <br />Mecklenburg, Union counties, and the City of Charlotte. <br /> <br />Three local CEDS projects have been developed recently that have included seven of the nine counties in the Centralina region. A <br />significant amount of resources was devoted to the development of these three CEDS projects, and an objective of this study has <br />been to build upon the Work that has been done in these other CEDS. The Centralina Regional CEDS has therefore incorporated <br />assessment information and strategies from reports of the other CEDS projects, and included several major recommendations from <br />the local CEDS reports in the Appendix of this plan. The primary benefits in having all nine counties of the Centralina COG <br />participate in the development of a CEDS is the establishment of an Economic Development District (EDD), an increase in the <br />region's competitiveness for federal grants, and a decline in the region's required loeallevel match for federal grants. Additionally, <br />EDDs may receive annual funding that may be used for additional economic development planning and implementation of <br />recommendations that will be developed from this planning initiative. <br /> <br />This 4-month project resulted in two deliverables: the Community Assessment Report and the Recommendations Report. Both <br />reports are based on significant input from the public and private stakeholders in the region, as well as consultant research and <br />analysis, The strategies proposed within this plan are meant to: 1) build upon strengths of the region, 2) seize opportunities in the <br />region, and 3) proactively address challenges the region faces. - <br /> <br />Centralina's Vision for Economic Prosperity <br />The Greater Charlotte-region has achieved success - it has an excellent business climate, a strong diversified economy, healthy <br />urban centers, excellent accessibility, a strong distribution network, and effective universities and community colleges. The region <br />boasts a strong banking center, headquarters of several Fortune 500 companies, a major share of the nation's motor sports indu~try, . <br />and hundreds of small business success stories. This is a diverse region and every countyhas experienced varying degrees of <br />success and challenges. The national economy has been and will continue shifting from a manufacturing-based economy to a <br />service-based economy. Within the region some counties are in a state of crisis due to large manufacturing layoffs, while ofh~r <br />counties', whose economies have already shifted from a manufacturing economy to a service economy, are simply experiencing slow <br />growth. <br /> <br /> <br />~ <br />Centralina <br />- " GMo.- <br /> <br />& ~~~:V!b~~ ~c~~D 2vTJ~~ <br /> <br /> <br />3 <br /> <br />,-c-.-.c.,-"""",-", <br />