Comprehensive Regional Economic Development Strategy
Through a planning grant provided by the U.S. Department of Commerce and Economic Development Association, Region Five Development Commission develops and maintains the Comprehensive Regional Economic Development Strategy (CREDS) for the region. EDA supports the development and implementation of a Comprehensive Economic Development Strategy (CEDS).
What is CREDS?
The Comprehensive Regional Economic Development Strategy (CREDS) is a regional planning document required by the U.S. Economic Development Administration (U.S. EDA) for any federally designated Economic Development District (EDD).
It is a tool for organizing and coordinating a region’s economic development goals and an official document that increases access to funding resources.
The EDA recognizes Region Five Development Commission as an EDD, serving the counties of Cass, Crow Wing, Morrison, Todd and Wadena.
What is the process?
A successful CREDS is created through an inclusive, analytical and reflective planning process and results in a measurable road map to regional economic prosperity. The CREDS was developed through research of available data and through an extensive participation process of engaging partners, local units of government, community members and business owners in a dialogue regarding the strengths, weaknesses, opportunities, and threats in our region.