CEDS & CERF | What’s what

We’re in the midst of two big projects that sound an awful lot alike. You’ll be hearing much more about them in the coming months, so here’s a handy guide to keep them straight.

While the partners, processes and particulars vary, the two projects share a common goal: creating an equitable and sustainable regional economy. In other words, not just boosting economic output but generating more high-paying and promising jobs that create social equity and environmental sustainability. Read more on the topic from CA FWD, Brookings and McKinsey.

Now for the Alphabet Soup:

CERF = Community Economic Resilience Fund

A new $600 million state program to develop industries that create high-quality, broadly accessible jobs. The six-county region from Santa Cruz to Ventura has organized as Uplift Central Coast to compete for a share of the funds. Get the 411 or register for an upcoming application working session on June 16th or June 17th.

CEDS = Comprehensive Economic Development Strategy

An 18-month project to build a strategy-driven, two-county economic plan expanding on REACH 2030. Read the FAQ and stay tuned for roundtable discussions beginning in August.

CERF
CEDS
Program origin
State government Federal government
Grant administrator
GO-Biz, Office of Planning and Research, Labor Department Economic Development Administration
Project applicant
Uplift Coalition REACH
Community matching funds?
No SLO County, Santa Barbara County, Bank of America
Geography?
6-county region defined by the state (Monterey, Santa Cruz, San Benito, SLO, Santa Barbara, Ventura) 2-county region defined by REACH (SLO, Santa Barbara)
Timeline
Application due July 25; Program runs Oct 2022 – Sept 2024 Current – Fall 2023
Goals
To be competitive for $500M in CERF implementation funds and beyond To be competitive for federal investment

Learn more about the CEDS project.

Learn more about the CERF project.

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