Together North Jersey and the North Jersey Transportation Planning Authority (NJTPA) are creating a Regional Comprehensive Economic Development Strategy (CEDS) for the North Jersey region. Funded by the U.S. Economic Development Agency, CEDS are designed to foster public-private partnerships to lay the groundwork for an economic roadmap to diversify and strengthen Regional economies. The CEDS will analyze the Regional economy and serve as a framework for establishing Regional goals and objectives, developing and implementing a Regional plan of action, and identifying investment priorities and funding sources.
The CEDS document will include the following six components:
- A Regional Profile, including data on economic, demographic, geographic, workforce, housing, transportation and environmental characteristics of the region, as well as infrastructure, human capital, natural, community and cultural resources and assets that distinguish the region from other areas
- Economic Development Organizations, Partnerships, Programs, and Resources, including a discussion on opportunity to foster partnerships among local, regional, state, and federal stakeholders
- Consistency and Alignment of Strategies, including how we harmonize with existing plans and economic development initiatives
- Visioning, Goals, and Objectives, derived through engagement with TNJ Economic Competitiveness and Workforce Development Committee, and a Private Business and Industry Partnership Group
- Plan of Action for implementation.
- Performance Measures and Evaluation, and setting up appropriate benchmarks for success.
As is the case with all aspects of the Together North Jersey planning process, the CEDS initiative will include public participation. The team will leverage the visioning and goal setting workshops already planned by NJTPA and TNJ, as well as meetings of the Economic Competitiveness and Workforce Development Committee, and other relevant meetings or forums as they arise.