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Northeast Council of Governments Comprehensive Economic Development Strategy

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Northeast Council of Governments Comprehensive Economic Development Strategy Northeast Council of Governments Comprehensive Economic Development Strategy 2019-2023 Prepared by: Northeast Council of Governments 416 Production Street N., Suite 1 Aberdeen, SD 57401 Phone: 605-626-2595 Fax: 605-626-2975 www.necog.org Northeast Council of Governments: 2019-2023 CEDS Page 1 TABLE OF CONTENTS EXECUTIVE SUMMARY ....................................................................................................................................................................... 3 INTRODUCTION ................................................................................................................................................................................. 4 Purpose ........................................................................................................................................................................................4 CEDS Committee ..........................................................................................................................................................................5 Process .........................................................................................................................................................................................6 SUMMARY BACKGROUND – ECONOMIC CONDITIONS ........................................................................................................................ 7 Population ....................................................................................................................................................................................7 Income ..........................................................................................................................................................................................9 Labor Force .................................................................................................................................................................................11 Regional Economic Clusters ........................................................................................................................................................13 Business and Economic Development ........................................................................................................................................15 Housing .......................................................................................................................................................................................18 SWOT ANALYSIS ................................................................................................................................................................................ 21 Regional Survey ..........................................................................................................................................................................21 CEDS Committee ........................................................................................................................................................................22 SWOT Chart ................................................................................................................................................................................23 STRATEGIC DIRECTION AND ACTION PLAN ........................................................................................................................................ 24 Strategy Context .........................................................................................................................................................................24 Goals, Objectives and Strategies ................................................................................................................................................24 LOCAL, REGIONAL AND PRIVATE SECTOR INVOLVEMENT .................................................................................................................. 29 Local Level ..................................................................................................................................................................................29 Formal Planning ..........................................................................................................................................................................29 Project Strategies .......................................................................................................................................................................30 Special Purpose Research ...........................................................................................................................................................30 Regional Level .............................................................................................................................................................................31 Statewide Level ..........................................................................................................................................................................31 National Level .............................................................................................................................................................................32 Private Sector .............................................................................................................................................................................32 Summary ....................................................................................................................................................................................32 STRATEGIC PARTNERS ....................................................................................................................................................................... 33 Roles…. .......................................................................................................................................................................................33 Specific Relationships .................................................................................................................................................................34 PERFORMANCE MEASURES ............................................................................................................................................................... 37 Methodology ..............................................................................................................................................................................37 Benchmarks ................................................................................................................................................................................37 Adjustments ...............................................................................................................................................................................38 ECONOMIC RESILIENCE ..................................................................................................................................................................... 39 Pre-disaster Preparedness ..........................................................................................................................................................39 Economic Resilience ...................................................................................................................................................................39 APPENDIX A: CEDS COMMITTEE/GOVERNING BODY MEMBERSHIP ROSTER ...................................................................................... 40 APPENDIX B: ADDITIONAL REGIONAL INFORMATION ........................................................................................................................ 42 APPENDIX C: CEDS RESOLUTION APPROVAL ...................................................................................................................................... 65 APPENDIX D: LIST OF TABLES............................................................................................................................................................. 66 APPENDIX E: LIST OF FIGURES ........................................................................................................................................................... 67 Northeast Council of Governments: 2019-2023 CEDS Page 2 EXECUTIVE SUMMARY This Comprehensive Economic Development Strategy (CEDS) serves as an update of the 2013 Northeast Council of Government (NECOG) CEDS. This update will cover the next five years. It will serve as the basis for monitoring and evaluating the region's long term economic goals and strategies and coordinate the economic development activities in the region. The CEDS process and document should be used as a tool for developing goals and strategies that will guide the economic growth of the region. The CEDS fulfills the requirements of the Economic Development Administration (EDA) as NECOG is designated as an Economic Development District (EDD). A CEDS must be approved by the EDA for counties and communities to be eligible for EDA funding programs. The NECOG staff and NECOG CEDS committee worked with their member local units of government, economic development partners, businesses, and area leaders along with input from community surveys to identify strengths and weaknesses and update the goals, tasks,
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