Economic Development

The Hudson Valley Regional Council (HVRC) receives grant funding from the US Department of Commerce Economic Development Administration (EDA) through their Partnership Planning Program (2019-2022). This funding requires the development of a Comprehensive Economic Development Strategy (CEDS) for the region every five years, with annual updates in between. The report allows the EDA to assess the needs of the country and prioritize areas where federal dollars should be invested to create or retain jobs.  A new five-year CEDS will be completed and available for the region in 2019. The seven-county Mid-Hudson region is also designated as an Economic Development District (EDD) and as such is eligible for additional consideration for funding opportunities. The staff at HVRC assist municipalities and eligible entities throughout the region with the application process for EDA’s various grant offerings.

April 14, 2021: US EDA announced updated investment priorities, placing equity at the top of the priorities list. Read the release here.

Comprehensive Economic Development Strategy (CEDS) Resources

Distress Criteria Statistical Report

Through strategic investments that further job creation and encourage private investment, the U.S. Department of Commerce's Economic Development Administration (EDA) supports development in economically distressed areas throughout the United States. The US EDA investment policy establishes a foundation for sustainable job growth and fosters durable regional economies.

HVRC worked with others in the region to create the Distress-Criteria Statistical Report.The report is intended to provide a snapshot of the economic distress in the Hudson Valley region based on 2015 data. Identifying communities that exhibit economic stress, as defined by the EDA, is important in determining eligibility for EDA investment assistance. EDA grants are designed to leverage existing regional assets to support the implementation of economic development strategies that advance innovative ideas and creative approaches to advance economic prosperity in distressed communities.