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ECONOMIC DEVELOPMENT
The West Piedmont Planning District was designated as an Economic Development District by the U.S. Department of Commerce, Economic Development Administration, in 1992. This designation represents a partnership among the West Piedmont Planning District Commission, its member local governments, and the U.S. Department of Commerce, Economic Development Administration and assists with establishing regional priorities for projects and investments through the annual development of a Regional Comprehensive Economic Development Strategy (CEDS) document. The Economic Development Administration Reform Act of 1998 identifies a CEDS as a requirement to apply for assistance under the EDA Public Works and Economic Adjustment Programs. Since the original Public Works and Economic Development Act was enacted in 1965, economic development planning has been a key element in achieving EDA’s long-range goals. The purpose of the CEDS is to establish a process that will help create jobs, foster more stable and diversified economies, and improve living conditions. It is a continuous planning process that addresses the economic problems and potentials of an area.
Through the PDC’s Economic Development District program, the Commission staff works closely with its member jurisdictions and economic development organizations providing demographics and technical assistance as requested. Other economic development-related activities of the Commission include administration of the West Piedmont Regional Alliance under the Virginia Regional Competitiveness Program; coordination of the West Piedmont Information Center which provides economic data for the Region; and coordination of the West Piedmont Geographic Information System program.
In June 2001, Thomas Point Associates of Annapolis, Maryland, completed the development of an EDA-funded Regional Economic Adjustment Strategy focusing on the impacts of the Region’s changing economy. This report was developed in coordination with the preparation of the PDC’s Comprehensive Economic Development Strategy.