(Albuquerque, NM – November 8, 2017) – The Mid-Region Council of Governments, which oversees the central area’s Economic Development District, was put in the national spotlight this week for its creative approach to the region’s Comprehensive Economic Development Strategy – or “CEDS”. The National Association of Development Organizations (NADO) Research Foundation recognized the agency as one of its “CEDS Spotlight Case Studies” – for embracing and cultivating entrepreneurship as a model for economic development.
“The road to economic prosperity can be a long one, so for NADO to single out our bootstrapping efforts is truly a shot in the arm”, said Ann Simon, Economic Development Program Manager, Mid-Region Council of Governments.“
Specifically, the NADO case study singled out the region’s “Rainforest” approach to economic recovery, in which regional leaders and key stakeholders have embraced a diverse, interconnected, and experimental culture to counter recession and move the area toward economic resilience.
The CEDS Spotlight went on to say that even in the face of recession and a heavy reliance on federal funding, the Albuquerque region has many local assets and resources in its institutions, leaders and business community that are helping to grow the entrepreneurial ecosystem.
“I think the CEDS Spotlight case study recognized that we have a wealth of resources when it comes to supporting entrepreneurship here in the central region”, said Dewey Cave, Executive Director for the Mid-Region Council of Governments. “From our halls of higher learning, at the University of New Mexico and our wonderful community college, … to our technology resources at Sandia National Laboratories, the micro lenders and business accelerators making it possible for start-ups to get off the ground - we have cultivated an entrepreneurial ecosystem.”
The study said that one of the most tangible results of the Albuquerque region’s development of an entrepreneurial ecosystem in the region has been the launch of InnovateABQ, a public-private partnership which is working towards the build-out of a seven-acre innovation campus for researchers, students, start-ups, laboratories, and more.
“The CEDS process is the cornerstone to all other EDA programs and serves as a means to engage community leaders, leverage the involvement of the private sector, and establish a strategic blueprint for regional collaboration”, said Jorge D. Ayala, Regional Director, Economic Development Administration. “I applaud the efforts of MRCOG in putting together a high quality CEDS that focuses on innovation and cultivating a climate that supports economic development and job creation.”
The U.S. Department of Commerce’s Economic Development Agency (EDA) provides funding for Economic Development Districts to develop and maintain a five-year Comprehensive Economic Development Strategy (CEDS). It fosters innovation and regional collaboration by encouraging its partners around the country to develop initiatives that advance new ideas and creative approaches to address rapidly evolving economic conditions. See more at https://www.eda.gov/about/
Learn more about the NADO Spotlight recognition, and read a more in-depth interview on the Central New Mexico CEDS with MRCOG Economic Development Program Mgr Ann Simon – visit https://www.nado.org/ceds-spotlight-mrcog/
Contact: Augusta Meyers, Communications Mgr., MRCOG (505) 239-8612, ameyers@mrcog-nm.gov
About the Mid-Region Council of Governments
The Mid-Region Council of Governments is a planning agency that serves the four in Central New Mexico: Bernalillo, Valencia, Torrance, and Sandoval. MRCOG provides planning services to its member governments in the areas of transportation, agriculture, workforce development, employment growth, land-use, water, and economic development.