October 4, 2007
What Are Central Florida's Economic Priorites?
Comprehensive Economic Development Strategy Outlines Economic Goals for the Future
As Central Florida strives to be a great place for people to live, learn, work and play, one important ingredient is the ability to sustain and increase economic competitiveness in the ever-changing global economy.
What are the economic priorities for the region and what needs to be our primary areas of focus in the short and long-term future?
Those key questions have been answered through the development of the Central Florida Comprehensive Economic Development Strategy (CEDS). Through the United States Department of Commerce, regions across the country are developing their economic strategies in order to compete for federal grants that are designed to help enhance infrastructure and economic prosperity within regions.
Development of the Central Florida CEDS will help Central Florida compete for federal projects and marked the first time ever in the region that economic development professionals joined with transportation and land use planners, tourism experts, environmentalists and business leaders to develop a strategy that encompasses both infrastructure and job development across all sectors.
The CEDS promotes regional economic development through public and private sector collaboration in order to be globally competitive in the 21st century. Cities and Counties with economic projects that are regional in scope and reflect the key elements of the CEDS will now be eligible to apply for federal matching funds.
The CEDS recognizes that integration of human and natural systems must drive our region’s future economic development. This integration will help the region reverse the negative effects of its current sprawling low density development pattern, and signal change to more efficient centers of commerce.
Embracing the themes and principles of the Central Florida Regional Vision, which emphasizes the desire of Central Florida to move away from our current trends in land use and transportation and toward a future that focuses on four key themes (Conservation, Countryside, Centers and Corridors), the CEDS recommends collaboratively moving forward with practical approaches for economic prosperity set within the unique and precious environment of Central Florida.
To accomplish this goal, the CEDS developed three missions that all potential projects must fulfill before being considered for grants:
Mission A: Connect and build upon mature and blossoming technology centers (space, oceanographic research, bio-medical, simulation, and green energy).
Mission B: Identify, adopt and implement best practices for land and development planning, environmental preservation and green energy production.
Mission C: Improve global connectivity of all transportation systems.
The CEDS also outlines nine recommendations for specific actions the region can take to accomplish the missions:
1. Attract and retain knowledge-based industries and the innovative workforce.
2. Further diversify the economy by supporting emerging economic clusters.
3. Move towards a greater share of high technology and science-based economy that enhances the region’s advantages in bio-medical, aerospace, and oceanographic research.
4. Leverage the region’s environmental assets for long-term natural resource stewardship and associated economic diversification and development.
5. Implement the “How Shall We Grow?” 4 C’s (Conservation, Centers, Corridors and Countryside) Regional 2050 Vision. The principal elements of the vision are:
- Preserve the most sensitive environmental lands and waters;
- Avoid continued sprawl;
- Promote more growth in urban centers;
- Connect higher density, mixed-use (residential and commercial) urban centers with multi-modal transportation corridors served by new transit lines;
- Preserve countryside.
6. Provide more opportunities for affordable workforce housing to support job expansion.
7. Enhance connections to worldwide markets.
8. Increase global/regional freight cross-connections for ship, air, rail and road.
9. Reduce the impact of job losses created by the Space Shuttle program retirement.
The complete CEDS report is available on the myregion.org web site: Regional Publications.
Any city or county interested in more information about how to submit a project for consideration by the EDA should contact Sam Bitar, ECFRPC Economist at 407.623.1075.
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