I Want The World to Know TV

Comprehensive Comprehensive Economic Economic Development Strategy Development Strategy Introduction and A Comprehensive Economic Development Strategy (CEDS) is a regional strategy which reflects local economic development needs and priorities and recommends a regional approach to achieving sustainable economic development. A CEDS is required to qualify for Economic Development Administration (EDA) assistance under its public works, economic adjustment, and most planning programs, and is a prerequisite for designation by EDA as an Economic Development District (EDD). The CEDS can be used as a regional strategy to coordinate economic development efforts. An analysis of economic and community development problems and opportunities including incorporation of any relevant material or suggestions from other government sponsored or supported plans; Background and history of the economic development situation of the area covered, with a discussion of the economy, including as appropriate, geography, population, labor force, resources, and the environment; A discussion of community participation in the planning efforts; A section setting forth goals and objectives for taking advantage of the opportunities of and solving the economic development problems of the area serviced; A plan of action, including suggested projects to implement objectives and goals set forth in the strategy; and Performance measures that will be Public Law 105-393, the Economic Development Administration Reform Act of 1998, a comprehensive amendment of the Public Works and Economic Development Act of 1965, as Amended (PWEDA), requires a strategy to qualify for assistance under most EDA programs. Recent revisions to the regulation were published in December 2005 and impact EDD definitions, match requirements, availability of planning funds, and the CEDS committee membership. Public works and economic adjustment grants. To be eligible for assistance under the public works or economic adjustment programs, the applicant must accompany the application with a CEDS acceptable to EDA. The proposed project must be consistent with a the CEDS. Economic Development District (EDD) designation. As a prerequisite for designation, a proposed EDD must prepare a CEDS that is Membership Broadly representative of the economic interests of the region. Must include at least one (1) private sector representative. Must include one or more of the following: Executive Directors of Chambers of Commerce, or representatives of institutions of post-secondary education, workforce development groups or labor groups, all of which must comprise 35% of the Committee. Committee shall also have at least a simple majority of its membership who are elected officials and/or employees of a general purpose unit of State or local government who have been appointed to represent the governments. The state of the regional economy External trends and forces Partners for economic development Resources for economic development Vision Statement New or revised goals Reporting Requirements Annual Report to EDA Revised CEDS at least every 5 years Comprehensive Comprehensive Economic Economic Development Strategy Development Strategy Data and Analysis Population 19902000# Change% Change Alleghany County13,17612,926-250-1.9% Clifton Forge4,6794,289-390-8.3% Covington6,9916,303-688-9.8% Virginia 6,189,0007,078,515 889,51514.4% United States 248,791,000281,421,906 32,630,90613.1% 200120022003 Alleghany16,60017,10016,90016,900 Covington6,3006,2006,1005,900 Virginia7,196,8007,287,8007,364,6007,458,900 Provisional Final Population Estimates Alleghany County Clifton ForgeCovingtonVirginia United States Under 1822.8%21.0%21.3%24.5%25.6% 18 to 246.2%6.5%7.6%9.6%9.6% 25 to 4427.0%24.8%27.2%31.8%30.4% 45 to 6428.3%23.9%23.5%23.0%21.9% 65 and Over15.7%23.8%20.5%11.2%12.4% Locality/Area Percent High School Diploma or Higher Percent Associate's Degree or Higher Percent Bachelor's Degree or Higher Alleghany County77.5%19.8%13.6% Clifton Forge75.0%16.8%9.6% Covington71.4%10.4%6.4% Highlands Region75.4%16.8%10.9% Virginia81.5%35.1%29.5% United States80.4%30.7%24.4% Educational Attainme RankCompany NameIndustry No. of Employees 1MeadWestvacoManufacturing1000+ 2Alleghany Highlands Public School BoardEducation500 - 999 3Alleghany Regional HospitalHealthcare250 - 499 4Bacova GuildManufacturing250 - 499 5Lear Automotive IndustriesManufacturing250 - 499 6Wal MartRetail250 - 499 7Acadia Polymers CorporationManufacturing250 - 499 8County of AlleghanyPublic Administration100 - 249 9Covington City School BoardEducation100 - 249 10Dabney S. Lancaster Community CollegeEducation100 - 249 11AET Packaging FilmsManufacturing100 - 249 12National Boiler ServiceRepair and Maintenance100 - 249 13City of CovingtonPublic Administration100 - 249 14Manpower International dministrative and Supp 15WVVA Health Care AllianceHealthcare50 - 99 16Seehawk Corp.Healthcare50 - 99 17Team CarriersTransportation50 - 99 18Liberty Nursing HomeHealthcare50 - 99 19K-MartRetail50 - 99 20Covington Motor CompanyMotor Vehicle Dealer50 - 99 Top Employers Industry # of Firms Avg. Weekly Wage Employment Natural Resources and Mining 10$490 0.3% Construction64$535 5.4% Manufacturing21$953 27.8% Trade, Transportation and Utilities 172$403 18.9% Professional and Business Services 49$752 5.3% Education and Health Services 73$555 25.1% Leisure and Hospitality 47$209 6.1% Employment by Sector Supersector Percent Local Employment Percent National Employment Location Quotient Natural Resources and Mining0.21.5 0.133 Construction5.46.4 0.844 Manufacturing30.213.1 2.305 Trade, Transportation, and Ut ilities17.323.3 0.742 Information1.12.9 0.379 Financial Activities2.17.3 0.288 Professional and Business Services5.615 0.373 Education and Health Services23.714.8 1.601 Leisure and Hospitality6.311.5 0.548 Other Services 3.94 0.975 Location Quotients for Selected NAICS SupersectorsandSubsectors: Alleghany Highlands Region, 2004 Alleghany Highlands VirginiaUnited States PCPI$23,950$33,730$31,472 Per Capita Personal Income, 2003 Total Personal Income Breakdown in 2003 (Alleghany Highlands) 61% 15% 24% Net Earnings Investments Transfer Payments 40 Mile Radius Centered on Covington, Virginia 2000 Population394211 Male (2000)189957 Female (2000)204254 2003 Population394287 Percent Racial Minority12.41% Percent Hispanic1.95% Households162114 Average Household Size2.37 Age 18-2954915 Age 30-3956027 Age 40-64133623 Age 65+62265 Median Age40 Demographic Data for 40 Mile Radius Surrounding Covington, Virginia Population, Age , Data for Radius and Educational Attainment: US Census Bureau, 2000. Population Estimates: Weldon Cooper Center for Public Service, 2005. Top Employers and Employment Data: Virginia Employment Commission, 2005. Per Capita Personal Income and Personal Income: Bureau of Economic Analysis, 2005.