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 |
