Comprehensive Economic Development Strategies (CEDS) reflect a region’s commitment to a capacity-building plan designed to foster regional economic prosperity. These plans outline specific goals and objectives for maintaining a robust economic ecosystem through the implementation of measurable goals.
The Office of Economic Development and International Trade (OEDIT) recognizes the importance of advancing these goals through tangible actions. This is why, with support from the Colorado Economic Development Commission, OEDIT’s Business Support and Rural Development Divisions are offering regions the opportunity to receive up to $40,000 as a reimbursement grant to complete a qualified objective cited in their CEDS plan.
For: Economic Development Districts/Statewide Economic Development Planning
Amount: $40,000 reimbursement grant
Application period: May 1, 2023 - December 31, 2023
OEDIT division: Rural Opportunity Office
The Rural Opportunity Office provides support and funding to regional, county, and local economic development agencies in the State of Colorado for the purpose of supporting Colorado’s rural economies. Funding up to $40,000 will be provided to support a project identified in an authorized, regional comprehensive economic development strategy (CEDS). Additional expenses toward the project will be the responsibility of the regional team. Fiscal agents will be reimbursed for all eligible costs, up to $40,000. Ineligible use of funds may result in a suspension from other OEDIT programs. Proof of a completed project through submission of a final report or study, or a written narrative and photos, if applicable, is required.
The Office of Economic Development and International Trade will conduct rolling reviews of all project proposals through December 31, 2023. Once a grant proposal has been approved, OEDIT will start the state procurement process and once a purchase order has been established, reimbursable expenses can begin accruing. Reimbursements will be accepted through June 30, 2024. Participating Economic Development Districts (EDD) will be reimbursed for all costs, up to $40,000 associated with the selected project.
A formal request, not more than two pages, is required to be eligible for project funding. Each request should include the following information:
- Name of the planning organization
- Type of Organization (must be an established EDD - fill in the information below)
- Primary contact name, phone number, and email address
- Description of the project:
- Type of project, e.g., feasibility study, construction, marketing, etc.
- Define the deliverable(s) that these funds will provide.
- If the project is a multi-phased project, the region must commit to the completion of a defined phase within the larger project, and provide evidence of completion.
- Note which strategy or goal within the current regional CEDS will be addressed.
- Note which strategy or goal within a current regional Rural Roadmaps Plan will be addressed.
- Note if any parts of the region carry the following designations:
- Just Transition Community
- Enterprise Zone / Enhanced Enterprise Zone
- Opportunity Zone
- Rural Jump Start Zone
- Agree to the terms of this grant, including all reimbursement requirements.
Proof of a completed project through submission of final report or study, or a written narrative and photos, if applicable, of a completed infrastructure or construction project.