CEDS - INTRODUCTION

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" rowspan="2" width=210 BGCOLOR="#99CC99" TEXT="#080000" bgproperties="fixed" background="03e8dfc3.jpg"> <div> <A HREF="id125.htm" TARGET="_top" TITLE="Board of Directors"><B>Board of Directors</B></A></div> <div> <A HREF="id2.htm" TARGET="_top" TITLE="Meetings"><B>Meetings</B></A></div> <div> <A HREF="id122.htm" TARGET="_top" TITLE="CEDS"><B>CEDS</B></A></div> <div> <A HREF="id66.htm" TARGET="_top" TITLE="Scenario Planning"><B>Scenario Planning </B></A></div> <div> <A HREF="id80.htm" TARGET="_top" TITLE="Task Team"><B>Task Team</B></A></div> <div> <A HREF="id117.htm" TARGET="_top" TITLE="Regional Plans"><B>Regional Plans </B></A></div> <div> <A HREF="id65.htm" TARGET="_top" TITLE="Links"><B>Links</B></A></div> <div> <A HREF="id39.htm" TARGET="_top" TITLE="ByLaws"><B>By-Laws</B></A></div> <div> <A HREF="id6.htm" TARGET="_top" TITLE="Contact"><B>Contact</B></A></div> <bR> <div> <B>CEDS Sponsors:</B></div> <bR> <div> <A HREF="id125.htm" TARGET="_top" TITLE="Board of Directors"><I><U>Platinum Sponsor</U></I></A></div> <div> <B>Borghesi Building & Engineering</B></div> <bR> <div> <I><U>Silver Sponsors</U></I></div> <div> <B>Bicron Electronics</B></div> <div> <B>CEDAS</B></div> <div> <I>(CT Econ. Dev. Assoc.)</I></div> <bR> <div> <I><U>Bronze Sponsors</U></I></div> <div> <B>Parker Productions</B></div> <div> <B>Winvian</B></div> </td> <td valign="top" colspan=2 height=82 style=" border-bottom: 1px solid #999980;" BGCOLOR="#CCCC99" TEXT="#080000" bgproperties="fixed" background="03f8dfe1esnpes.jpg"> <div> <FONT SIZE="5" COLOR="#006600" FACE="Bangle" ><B>Northwest Connecticut Economic Development Corporation</B></FONT><FONT SIZE="2" COLOR="#000000" FACE="Bangle" ><B> </B></FONT><B>    </B><B>|</B><B>  </B><FONT SIZE="2" COLOR="#000000" FACE="Bangle" ><B> </B></FONT><FONT SIZE="2" COLOR="#006600" FACE="Bangle" ><B> </B><B> </B><A HREF="index.htm" TARGET="_top" TITLE="Northwest Connecticut Economic Developme"><B>home</B></A></FONT></div> <div> <A HREF="id4.htm" TARGET="_top" TITLE="CEDS May 2004">CEDS - May 2004</A>   |   <B>CEDS - INTRODUCTION</B>   |   <A HREF="id17.htm" TARGET="_top" TITLE="CEDS PART I: COMMUNITY ORGANIZATION AND">CEDS - PART I: COMMUNITY ORGANIZATION AND MANAGEMENT</A>   |   <A HREF="id18.htm" TARGET="_top" TITLE="CEDS PART II: ANALYSIS">CEDS - PART II: ANALYSIS</A>   |   <A HREF="id19.htm" TARGET="_top" TITLE="CEDS PART III: VISION">CEDS - PART III: VISION</A>   |   <A HREF="id20.htm" TARGET="_top" TITLE="CEDS PART IV: THE ACTION PLAN ">CEDS - PART IV: THE ACTION PLAN </A>   |   <A HREF="id21.htm" TARGET="_top" TITLE="CEDS PART V: BENCHMARKING AND EVALUATIO">CEDS - PART V: BENCHMARKING AND EVALUATION</A></div> <div> </div> </td> </tr><tr> <td valign="top" height=398 width="100%" colspan=2 BGCOLOR="#CCCC99" TEXT="#080000" bgproperties="fixed" background="03f8dfc3.jpg"> <div> <I>CEDS - INTRODUCTION</I></div> <DIV ALIGN="LEFT"></DIV> <div> <B> <TABLE BORDER="1" CELLPADDING="1" CELLSPACING="1" WIDTH="771" BORDERCOLORLIGHT="#C0C0C0" BORDERCOLORDARK="#808080" FRAME="BOX" RULES="ALL" HSPACE="0" VSPACE="0" BGCOLOR=#FFFFFF > <tR> <tD VALIGN=TOP HEIGHT= 1465 WIDTH="763"><div> <B><U>INTRODUCTION</U></B></div> <bR> <div> <B><U>Overview</U></B></div> <div> In an effort to improve the economy of the area, the Litchfield Hills Council of Elected Officials has prepared this <B><U>Comprehensive Economic Development Strategy</U></B> (CEDS) to serve as the consolidated economic development policy statement and plan for the Litchfield Hills Region of Connecticut. This CEDS updates the area's first regional economic development plan, which was prepared in 1993.</div> <div> The Litchfield Hills Council of Elected Officials is the state-recognized regional planning organization for the 11-town Litchfield Hills Planning Region. The LHCEO established a broad-based “Litchfield Hills Economic Development Partnership” (LHEDP), consisting of public and private sector representatives, to serve as the Regional CEDS Committee for the preparation of this report.</div> <div> Nine towns in the Litchfield Hills Region and one town in the neighboring Northwestern CT Planning Region participated in the CEDS planning process. These towns include Barkhamsted, Colebrook, Goshen, Litchfield, Morris, New Hartford, Norfolk, North Canaan, Torrington, and Winchester.</div> <div> It is hoped that this CEDS document will serve as the comprehensive focal point for community-based economic development planning and development and that it results in the identification of issues, needs and critical priorities for pursuit by involved agencies, governments, organizations and the private sector. It is anticipated that this CEDS and the process established to complete it will serve as the continuing basis for future economic development planning and implementation initiatives within the Region.</div> <div> <B><U>Report Organization</U></B></div> <div> This report analyzes the Region's economic development needs, liabilities and assets and provides an overarching economic development vision for the Region that is supported by specific goals, strategies and implementation actions recommended to grow the Region's economy. This is followed by an action plan of projects to be implemented by a variety of regional partnerships. These projects comprise Litchfield Hills's “Regional Action Agenda,” endorsed by the LHEDP (Regional CEDS Committee).</div> <div> <B><U>Part I - Organizing and Staffing for Economic Development</U></B><B>  </B>The CEDS provides information on area organizational and staffing resources available to support economic development initiatives. Background information is provided on the actions taken within the Region to pursue the creation of this CEDS and the role of the Litchfield Hills Council of Elected Officials, the Northwest Connecticut Chamber of Commerce, the LHEDP and the community of interests participating in this regional initiative to improve the economy of the Litchfield Hills Region.</div> <div> A survey was administered to evaluate the organizational and staffing resources available to support economic development initiatives within the Litchfield Hills Region. That survey, combined with follow-up discussions by the LHEDP, established the lack of both organizational and staffing resources available to support economic development activities with the Litchfield Hills Region.</div> <bR> <div> Recognizing the lack of organizational and staff resources, there is strong public support from the LHEDP, the Region's chief elected officials and the area's business community to implement the Action Plan recommendations contained in the CEDS, including recommendations to pursue the financial resources required to staff the newly created “Northwest Connecticut Economic Development Corporation” that was created during the preparation of the CEDS, with strong support and participation by members of the LHEDP.</div> <div> <B><U>Part II - Where Are We?</U></B> provides extensive background information on the history and current status of the Region's economy. This section contains a detailed economic profile of the Region and documents the changes in the Region's economy. It also provides an evaluation of the Region's economic assets and liabilities and provides information on economic development efforts currently underway to address deficiencies.</div> <div> The findings of this analysis show a struggling regional economy characterized by the inability to stimulate job growth, continued erosion of the manufacturing base and 40% of the area's employed labor force needing to travel beyond the Region's borders to find employment.</div> <div> <B><U>Part III - Where Do We Want to Be?</U></B>  Preparation of a Vision Statement and associated Goals, Objectives and Strategies for improving the economy of the Litchfield Hills Region. Following an analysis of the successes other regions have enjoyed in shaping an implementable vision and strategy for improving a regional economy, the LHEDP had extensive discussions as to their vision for the future of the Litchfield Hills. The CEDS Vision Statement for the Litchfield Hills Region as prepared by the LHEDP follows:</div> <DIV ALIGN="LEFT"></DIV> <div> <B><U>CEDS Vision Statement</U></B></div> <div> “Over the course of the next two decades, the Litchfield Hills Region will promote growth opportunities for higher education and strengthen the economic well-being and quality of life for all of its residents. The Region will continue to transition to a more diversified economy that is globally competitive and results in the retention and creation of new and higher paying jobs, supported by appropriate labor force skills. The local property tax base will be expanded and broadened in a manner that conserves appropriate open space and community character, while strengthening the area's existing urban and village centers.”</div> <div> The CEDS Vision Statement for the Litchfield Hills Region contains the basis for the creation of four generalized, over-arching “end goals.” A discussion by the LHEDP of how to achieve these goals led to the identification of key objectives and specific implementation strategies that need to be accomplished in order to realize the vision.</div> <div> <B><U>Part IV - How Do We Get There?</U></B>  The CEDS “Regional Action Plan” describes the recommended process and actions required to achieve the Vision. Achieving the Vision for the future of the area's economy is recognized as a long term, coordinated effort that requires the support of the Region's municipalities, business community and area institutions.</div> <div> The recommended implementation plan includes a series of 60 projects and activities, endorsed by the LHEDP, the Region's chief elected officials and the leadership of the area's business and institutional communities. These recommendations address identified needs, deficiencies and impediments to the expansion of the Region's economy and build on the Region's strengths and resources.</div> <div> <B><U>Part V - Evaluation: How Are We Doing?</U></B>  This section of the CEDS establishes the process that will be used to track the progress being made in implementing the recommendation of the CEDS Action Plan and to measure the effectiveness of proposed initiatives to expand the economy of the Litchfield Hills Region.</div> <div> This process includes the use of performance benchmarks for evaluating the effectiveness of the CEDS relative to changes over time in employment, wages and economic output. These benchmarks will help to establish the impact implemented CEDS activities have on the economy of the Litchfield Hills Region.</div> </tD> </tR> </TABLE></B></div> <bR> </td> </tr></table></body>