Summary Background
INTRODUCTION
The U.S. Economic Development Administration (EDA) has designated the Piedmont Triad Regional Council as the Economic Development District (EDD) to identify the region’s priorities for impactful economic development and developing the comprehensive economic development strategies (CEDS) that supports regional stakeholders. The EDA outlines CEDS as “a vehicle for individuals, organizations, local governments, institutes of learning, and private industry to engage in a meaningful conversation and debate about what capacity building efforts would best serve economic development in the region”. Understanding that CEDS is a responsive and flexible five-year strategic economic development plan, frequent adjustments and updates will be implemented to meet the changing needs of communities throughout the region.
CEDS encompasses strategic efforts and goals to develop a transparent and refreshed vision for the future of our 12-county region. Every citizen within the Piedmont Triad plays a role within our CEDS. They are the indicators for incoming economic development and regional plans to show where communities design to grow, how they remain competitive, and collaborate with institutions to share responsibility. Our CEDS goals and strategies embed regional cohesion and realistic approaches to equitably leverage all assets each county has to offer. This update was constructed with the valuable input from private and public sector partners and stakeholders from all around the region. Our region-wide public survey was vastly distributed in August 2022 to gather data and feedback results for priorities alignment and to capture an updated SWOT summary. Eight community public listening sessions, broken down by specific categories such as Entrepreneurship, Workforce Development, Educational Anchors, etc. were hosted virtually in September 2022 to gauge community members and provide an outlet to voice praises and concerns for the region. Both processes along with ongoing teamwork and community engagement, highlighted the region’s current economic conditions, challenges residents combat every day, and opportunities for growth and prosperity. The CEDS plan update is designed to empower our regional stakeholder’s feedback with the set of goals, strategies, and tactics that leverage existing resources, account for opportunities, and revitalize communities across all 12 counties to make the Piedmont Triad your next destination, home, and workplace.
As referenced above, the region-wide public CEDS survey received an abundance of active participation that our team relies heavily on. 254 survey respondents submitted their feedback, representing hundreds of organizations, businesses, institutions, and residents across the region. The CEDS virtual community listening sessions engaged and immersed over 100 participants from all backgrounds, with their devotion to the Piedmont Triad region as the common ground. Reading, hearing, and transcribing all of these diverse perspectives and potential solutions across the region was a critical component in molding this CEDS plan. Embedding local realities and shared regional aspirations is an element reflected throughout this CEDS update as an attempt to accurately depict the real challenges and opportunities all readers process and act upon.
While the Piedmont Triad Regional Council has the lead role in developing the CEDS plan, identifying and valuing the array of economic assets, capital, and opportunities within our region comes from the citizens. It
takes concentrated energy, resources, and knowledge of various strategic partnerships to accomplish the goals and achieve the objectives outlined in the plan. The CEDS contemplates a five-year timeline while recognizing our goals are long-term focused and will go beyond a specific timeframe. This plan will require frequent updates as economies are free spirits and adapt. This CEDS plan emphasizes and sponsors the dedication of previous editions and the progress our region has made from the vital partnerships across the public and private sector. As the plan is implemented, consistent data updates, literature refinements, and link embedment will be reworked and added to accurately reflect the economic development goals, objectives, and aspirations of the Piedmont Triad region.