Colorado launches statewide economic development strategy

DENVER — Colorado has released its first Statewide Comprehensive Economic Development Strategy, a five-year plan designed to guide the state’s long-term economic vision and goals.

The plan, known as CEDS, was developed by the Rural Opportunity Office within the Colorado Office of Economic Development and International Trade, following input gathered from communities and development partners across the state.

“Building a strong economy for Colorado’s future requires detailed research, strategy and coordination across local, state and private partners in rural, urban and suburban communities,” Gov. Jared Polis said. “This strategy supports that important work.”

OEDIT Executive Director Eve Lieberman said the plan is designed to benefit all 64 counties and the Ute Mountain Ute and Southern Ute tribes by aligning statewide strategies and supporting local priorities. “Today’s milestone lays the foundation to build on local and rural plans, attract more investment, foster collaboration and create a more vibrant, resilient and prosperous economy across the state,” she said.

The strategy was created in line with U.S. Economic Development Administration guidelines. State officials said CEDS documents help communities attract investment and improve outcomes when funding is secured.

Rural Opportunity Office Director Meridith Marshall noted that the plan is the result of years of collaboration with local communities. “We are grateful to the many communities and partners who contributed their expertise and insights to ensure this plan represents all four corners of Colorado,” she said.

The initiative continues previous state efforts, including Colorado’s Blueprint 2.0, launched in 2015, and CO|Align, a program that aims to reduce redundancies and improve coordination in economic development. Over the past two years, Colorado has worked with regional groups to develop and implement local CEDS plans, marking the first time every region has a strategy in place.

The Rural Opportunity Office supports communities, business groups and small businesses across the state by connecting them with OEDIT programs and partner resources. OEDIT works to foster growth by helping businesses of all sizes with funding, training and support programs.