One Coast, One Future CEDS Strategy August, 2009
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One Coast, One Future CEDS Strategy
August, 2009
One Coast, One Future
14 municipalities
Federal funding to examine linkages and develop strategy
Hired CERC to facilitate CEDS
What is a CEDS?
Comprehensive Economic Development Strategy
Analyze regional economy
Establish regional goals and objectives
Develop regional plan of action
Identify investment priorities and funding sources
Integrate human and physical capital planning in furthering economic development
What is a CEDS? (cont.)
Include broad based and diverse public and private sector participation
Clearly define metrics for success
Part of continuing economic development planning process
Effective for five years
What components are part of the CEDS?
Economic Development Background
Analysis of Problems and Opportunities
Goals and Objectives
Action Plan
Performance Measures
Why is a CEDS important?
Based in economic reality - economic scale vs. political boundaries
Saves money - efficiency in the expenditure of public resources
Attracts new investment - how potential businesses view location decisions
Stamford and Bridgeport’s population was more than 267,000 in 2007 – almost 40 percent of the One Coast Region.
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
1900 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2007
One
Coa
st R
egio
n Po
pula
tion Towns <25k
Towns 25k-85kStamfordBridgeport
Sources: U.S. Census, CERC DataFinder
The One Coast region has a smaller relative share of young adults (20-34 years), but a higher share of young (less than 20 years).
0%
5%
10%
15%
20%
25%
30%
35%
< 20 Yrs 20-34 Yrs 35-54 Yrs 55-74 Yrs 75+ Yrs
Perc
ent o
f Pop
ulat
ion,
200
7
One CoastCTU.S.
Source: Applied Geographic Solutions, CERC DataFinder
Two towns have median household incomes that are three times above the state average; two municipalities are below Connecticut.
$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000
BridgeportStratford
CTNorwalk
StamfordTrumbullFairfieldMonroe
GreenwichWestport
EastonWilton
New CanaanDarien
Weston
Median Household Income, 2007
Source: Applied Geographic Solutions, CERC DataFinder
In Fairfield County, the natural increase and international migration of population has offset the loss in internal migration.
-80,000-60,000
-40,000-20,000
020,000
40,00060,000
80,000100,000
Total Pop.Change
TotalNatural
Increase
Births Deaths Total NetMigration
Net Intntl.Migration
NetInternal
MigrationCumulative Estimates of Population Change Components: Apr 2000-Jul 2007
The largest shift in the spatial distribution of jobs was out of Bridgeport during the 1960s and 1970s.
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
1963 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05
One
Coa
st R
egio
n Em
ploy
men
t
Other One CoastWestportTrumbullFairfieldStratfordGreenwichBridgeportNorwalkStamford
Source: CT Department of Labor
Healthcare, retail trade, government and manufacturing each represented at least 10 percent of Fairfield County’s employment in 2007.
Health Care & Social Assistance
13%
Retail Trade12%
Government11%
Manufacturing10%
Finance & Insurance9%
Wholesale Trade4%
Other Industries17%
Other Services4%
Admin, Support, Waste Mgmt, Remediation
7% Professional, Scientific, Tech Svcs
7%
Accommodation & Food Svcs
6%
Source: Moody’s Economy.com
Two of the industries with the largest relative employment concentrations were financial; another two were in manufacturing.
NAICS Industry DescriptionEmp LQ*
2007
523 Securities, Commodity Contracts & Other Financial Investments 6.70
454 Nonstore Retailers 2.87
551 Management of Companies & Enterprises 2.45
485 Transit & Ground Passenger Transportation 2.40
525 Funds, Trusts & Other Financial Vehicles 2.15
325 Chemical Manufacturing 2.15
812 Personal & Laundry Services 2.08
335 Electrical Equipment, Appliance & Component Manufacturing 2.07
511 Publishing Industries (except Internet) 1.89
712 Museums, Historical Sites & Similar Institutions 1.67
Source: Moody’s Economy.com
*Largest employment location quotients of industries with at least 500 employees
Equalized Grand L is t per Capita, 2006
$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000
Bridgeport
S tratford
Total All CT Towns
Monroe
Norwalk
Trumbull
S tamford
One Coas t Total
Fairfield
E aston
Weston
Wilton
Westport
Darien
New Canaan
Greenwich
Most of the housing affordability indices were above the state average for 2007 Q4.
0 2 4 6 8 10 12 14 16
GreenwichNew Canaan
StamfordWestportNorwalk
Fairfield CountyDarien
FairfieldBridgeport
WiltonWeston
TrumbullEaston
ConnecticutStratfordMonroe
Affordability (Sales Price to Income) Index - 4Q Moving Average
Source: The Warren Group
Summary Rankings for the One Coast Region, 2008
Benchmark Ranking
Quality of Life 13
Demographics 18
Education 7
Costs and Income 9
Housing 13
Basic Economics 24
Industrial Competitiveness 1
Best and Worst Benchmarks for the One Coast Region, 2008
Best Rank Worst RankCrime 1 10 yr growth in labor force 222007 Income 1 Business growth 2210 yr growth in PCI 1 General cost of living index 23Finance and Insurance 1 Younger Workforce 23Home ownership 2 Distribution of income 24Rental affordability 2 Environment, Health 24Management of Companies and Enterprises 2 Housing costs Index 24Climate 4 Transportation 24Population with associate degree 4 Workforce Dependency Ratio 25Population with graduate degree 4Low income households 5
Table 3: Best and Worst Benchmarks for One Coast Region, 2008
One Coast Region Vision
The One Coast Region will have vibrant businesses providing jobs for a broad range of citizens in communities that recognize their connectivity and grow sustainably, respecting natural assets.
One Cost CEDS Mission
The mission of the One Coast Region CEDS is to provide goals and action steps for the 14-municipality region to grow sustainably and provide employment for its residents while acting on issues in control of the Region and advocating where change is necessary beyond the borders.
CEDS Goals & Action Steps
Governance
Sustainability
Transportation and Infrastructure
Workforce Development
Business Environment
GOAL 1 - GOVERNANCE - develop strategic partnerships possessing the appropriate authority, at the right scale, to affect change and ensure accountability.
Objective 1: Develop a public private collaborative organization and provide it with the authority to implement a regional economic development strategy.
Objective 2: Provide coordination and consistency between the transportation, land use and economic development strategic planning efforts among the 14 municipalities and the existing planning agencies.
Objective 3: Build on the current communications between Chief Elected Officials in the One Coast Region.
Objective 4: Perform public functions at an appropriate scale to most efficiently use public resources.
Objective 5: Ensure coordination and consistency between regional and state economic development efforts.
GOAL 2: DEVELOPMENT THAT IS SUSTAINABLE – in economic activity while recognizing the importance of key natural resources and appropriate community development.
Objective 1: Ensure adequate supply and use of energy to accommodate appropriate growth.
Objective 2: Develop where adequate infrastructure, particularly transportation investments, are already in place.
Objective 3: Protect and appropriately use natural and coastal resources.
Objective 4: Remove emphasis on grand list growth as driver of development.
GOAL 3: HOLISTIC APPROACH TO TRANSPORTATION AND INFRASTRUCTURE INVESTMENT PLAN –coordinate projects and planning for an integrated transportation system.
Objective 1: Facilitate greater communication with New York and New Jersey regarding common interests and cross-state planning and collaborate with various regional entities.
Objective 2: Improve the capacity of traveling options for the efficient movement of commuters.
Objective 3: Create incentives for freight to move through the Region during off-peak hours.
Objective 4: Enhance connections to New Haven and Meriden, and northern connections to Danbury and Waterbury so that people can move more easily between home and work.
Objective 5: Utilize ports and waterways to ease a percentage of the goods and people moving through the Region on the highways and trains.
GOAL 4: WORKFORCE DEVELOPMENT & EDUCATION INVESTMENT – Create an environment that fosters educational success and lifelong learning.
Objective 1: Connect workforce development with education achievement.
Objective 2: Attract and retain young professionals in the Region.
Objective 3: Assess and address the effects of immigration.
Objective 4: Close the education achievement gap.
GOAL 5 : Improve Business Environment and Economic Development Climate – by coordinating local, regional, state and federal assets.
Objective 1: Create a Regional Economic Development Council of economic development professionals or other representatives from each municipality to establish, implement and oversee Regional programs for marketing efforts and business retention, expansion and attraction, as well as to promote entrepreneurial activity.
Objective 2: Create the One Coast Regional Economic Development Profile.
Objective 3: Develop and implement a Regional retention and expansion program targeting existing businesses and entrepreneurs.
Objective 4: Develop and implement a Regional marketing campaign geared toward business recruitment and development.
Next Steps
Hold 30 Day Public Comment Period
Submit to U.S. EDA and Approval by EDA
Create CEDS Implementation Committee
Develop Priorities for Action Steps
Get Involved
Contacts:
Paul Timpanelli, Bridgeport Regional Business Council
Joe McGee, Business Council of Fairfield County
Ed Musante, Greater Norwalk Chamber
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