The 2024 CEDS: Supporting a strong and vibrant Cape Cod

Cape Cod leaders from various sectors, including business, education, nonprofit, and government, came together at the Cape Cod Museum of Art on March 5 for the Cape Cod Economic Summit, a day designed to inform development of the next economic development plan for the region.

Feedback gathered at the Summit will inform the 2024 Comprehensive Economic Development Strategy (CEDS), which is required to maintain the region's Economic Development District designation. The CEDS is a five-year strategic plan for economic development on Cape Cod. It sets out an action plan with priority projects to move the region's economy toward a sustainable future.

Summit speakers included Commission Executive Director Kristy Senatori, Commission Deputy Directors Erin Perry and Steven Tupper, Yvonne Hao, Secretary, MA Executive Office of Economic Development, Dr. Mark Melnik, Director of Economic and Public Policy Research at the UMass Donahue Institute, Kennedy Smith of the Institute of Self-Reliance, Cape Cod Chamber of Commerce Executive Director Paul Niedzwiecki, Cape Cod 5 President and Barnstable County Economic Development Council Chair Bert Talerman, and Cape Air founder and former State Senator Dan Wolf. Speakers shared economic data and information, encouraging the group to think creatively about Cape Cod's economic future ahead of afternoon breakout sessions where attendees discussed and strategized impactful actions that support the vision and goals of the 2024 CEDS. View summit presentations here.

The 2024 CEDS envisions a strong and vibrant Cape Cod, a region that supports a resilient and diverse year-round community with access to housing options, high-quality business and employment opportunities, and thriving natural resources, building upon the historic and unique characteristics that have drawn people to the region for centuries.

Cape Cod's key regional challenges, like climate change, housing, water quality, and infrastructure, are all economic issues. A robust economic development plan will consider these challenges as opportunities to strengthen our economy.

The Commission is now working in collaboration with the Barnstable County Economic Development Council to develop an action plan. Further stakeholder engagement and development of the draft plan will continue into May, when a draft plan is expected to be released for public comment. The final plan is due to the federal Economic Development Administration in June.