What is a CEDS?
KIPDA plays a pivotal role in regional planning and development across nine counties, focusing on economic growth, community services, and transportation initiatives. Learn more about KIPDA’s commitment to equity, environmental justice, and their comprehensive approach to economic development by exploring the full strategy.
Background
Explore the demographic and economic landscape of the KIPDA region, highlighting key industries, workforce trends, and future growth projections. Delve into how the region’s unique geographical, cultural, and economic assets contribute to its development and strategic planning.
Regional Facts
Each county in the KIPDA region offers unique and diverse characteristics, with demographic data providing valuable insights into population, housing, economic, and industry trends. Explore a comprehensive overview of the region’s key statistics to better understand your county and the broader area.
Action Plan
The Kentuckiana Regional Planning Agency’s CEDS plan outlines a strategic approach to address the region’s economic development needs through collaboration across various departments and community input. Key goals focus on promoting economic growth, workforce development, transportation improvements, water and wastewater planning, and enhancing the quality of life for all residents.
Economic Distress Criteria
StatsAmerica, a service by the Indiana Business Research Center at Indiana University, offers tools like “Measuring Distress” to assess economic development potential by calculating unemployment and income thresholds for counties and regions. This data helps identify areas in the KIPDA region most susceptible to financial hardship, guiding where federal and state funding may be most needed.
Evaluation Framework
KIPDA’s strategic goals, including promoting economic growth, workforce development, transportation improvements, water and wastewater management, and enhancing quality of life across the region. Each goal is supported by specific performance measures, responsible entities, and timeframes to ensure effective and ongoing progress.
Opportunity Zones
Opportunity Zones, established by Congress in 2017, aim to spur long-term investments in low-income urban and rural communities by offering tax incentives to investors. In the KIPDA region, 20 Opportunity Zones, primarily in Jefferson County, provide significant opportunities for development and economic growth, particularly in areas where accessing traditional capital may be challenging.
Public Survey Results
Community respondents identified key Regional Service Priorities, including childcare, workforce development, affordable housing, and high-speed internet. Economic development strategies emphasized infrastructure, workforce retention, and quality of life, while capital improvements prioritized broadband accessibility and road enhancements.
Resiliency
Economic resilience in the KIPDA region focuses on preparing for and recovering from disruptions by diversifying the economy, building a resilient workforce, and fostering collaboration among stakeholders. Additionally, physical resilience is enhanced through hazard mitigation planning, while pandemic response efforts highlight the importance of coordinated strategies to support recovery and future preparedness.
S.W.O.T. Analysis
KIPDA’s SWOT analysis gathered insights from regional committees, elected officials, and community stakeholders across seven counties to identify key strengths, weaknesses, opportunities, and threats in the region. The analysis highlighted regional service priorities, economic development strategies, and capital improvements, with a focus on strategic target sectors to enhance economic resilience and diversify the local economy.
Strategic Target Sectors
The CEDS survey respondents emphasized the importance of economic resilience by diversifying the economy, supporting small and midsized businesses, and fostering community involvement. Strategic target sectors identified for investment include Tourism, Agriculture, Education, Professional, Scientific & Technical Services, Logistics, Manufacturing, and Healthcare, each crucial for creating a robust and diverse regional economy.