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Performance Metrics Matter, a publication of the National Association of Development Organizations prepared by the ViTAL Economy Alliance, explains how performance metrics can be used to create a more effective CEDS for a regional economy.

A Comprehensive Economic Development Strategy (CEDS) is more than a mandatory report for opening doors to federal funding, especially through the U.S. Economic Development Administration (EDA). It should be an opportunity to formulate effective strategies that transform a region’s economy by creating or retaining wealth and increasing prosperity.

This white paper discusses how performance metrics can be used to create a more effective CEDS for a regional economy. It includes real-life examples of how performance metrics have been used by various Economic Development Districts (EDDs) and other regions assisted by ViTAL Economy to address unique conditions and transform their region’s economic performance. It also demonstrates how performance metrics are the first critical step in creating meaningful strategies in a CEDS and how they can improve an economic region’s ability to meet the new NADO’s Seven Principles of CEDS Standards of Excellence.

Click here to download the report (PDF)

• In Wisconsin, the Northwest Regional Planning Commission and the West Central Wisconsin Regional Planning Commission have worked with the state to consolidate HUD CDBG loan programs into more productive regional lending pools, resulting in reduced administrative barriers, increased capacity, and streamlined processes to achieve efficiencies.  More importantly, they have increased business lending activity for technology companies, manufacturing firms and other area businesses.
• The Southern Oregon Regional Economic Development Inc . (SOREDI), based in Oregon, helps small businesses and entrepreneurs through the Jefferson Grapevine innovation network that provides technical assistance and resources to businesses, and  connects them to potential investors. SOREDI also assists businesses through the Southern Oregon Angel Investment Network, a group of accredited investors seeking equity investments in early-stage companies.
• In Colorado, the Region 9 Economic Development District promotes business growth through a partnership program called the Growth Company Initiative.
• In Texas, the Southern Plains Association of Governments manages a number of federal small business loan funds to have a big impact on the 15-county region.

The report includes information about each programs financing, successes and challenges, impact, and more.

Download the report.

The report is a product of the NADO Research Foundation’s work with the Small Business Administration (SBAHQ-10-I-0317) and should not be construed as an endorsement of any products, opinions or services.  All SBA-funded projects are extended to the public on a non-discriminatory basis.

Click here to download report (PDF).

Click here to view Getting Started in Regional Energy and Fuels Planning: Sharing the Land-of-Sky Experience (PDF).

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