Our Role in East Central Florida
The ECFRPC is designated by the U.S. Economic Development Administration (EDA) as the region's Economic Development District (EDD). Through this program, communities and organizations can access federal monies to fund projects that further economic development. Since 2011, the EDD program has helped to attract more than $8 million in EDA grants to the region. This includes funding for the Center for Advanced Manufacturing and Innovation Design (CAMID) in Melbourne, the BRIDG facility in Kissimmee, and the Aviation and Engineering Research Center in Daytona Beach.
Regional Economic Development
Comprehensive Economic Development Strategy (CEDS)
As part of its duties within the EDD program, the ECFRPC is responsible for developing and implementing the region's Comprehensive Economic Development Strategy (CEDS). A strategy-driven plan, the CEDS strives to create a resilient regional economy by fostering innovation, competitiveness, and industry diversification. The CEDS is developed with the assistance of a Strategy Committee comprised of members from the public and private sectors. The plan examines regional economic trends, measures the region's innovation capacity, identifies competitive industry clusters and discusses the importance of place-based communities. The 2017-2022 CEDS can be accessed here.
Economic Technical Assistance
EDD staff has helped to attract over $130,000 in state and foundation grants to assist communities and organizations to create economic development strategic plans. Using an industry cluster analysis methodology and Geographic Information Systems (GIS) software, the EDD helps communities identify their economic strengths and opportunities. This information is then used to develop a robust set of strategies that jurisdictions can follow to achieve economic prosperity.
The ECFRPC also provides Economic Impact Analysis services using the REMI PI+ Model. This software can be used to estimate how one-time events or policy changes can affect the region's economy. This includes estimating the direct, indirect and induced impacts that these activities can have on regional employment, sales (output), income and gross regional product (GDP).
Click this link for more information on our Economic Impact Analysis services.