Comprehensive Economic Development Strategy

The FY-2017 “Comprehensive Economic Development Plan” for the Lake Cumberland Area Development District serves as a road map for the development of the region. The document takes a broad look at where we are today, and where we have been, and then helps to lay out a path toward where we want to be in the next five or ten years. While primarily an economic development tool, the CEDS is a comprehensive look at the region, and provides strategies to improve all aspects of regional livability.

The CEDS is developed through a joint funding agreement with the Economic Development Administration. The CEDS is rewritten every five years, with updates done every year in between. The document serves all ten counties and fourteen municipalities within the Lake Cumberland Area Development District.

Over the past five years, the United States has undergone a slow and steady economic recovery following the massive job losses of 2008-2009. Unemployment figures have fallen below pre-recession levels, and businesses are expanding. Consumer confidence levels are rising, and the nation’s economy appears to be solid.

Although the economy of the LCADD has strengthened and shows many signs of stability, there are still apparent weaknesses. Unemployment levels, while mostly good, are still high in a few locations. While much of the region’s economic wellbeing is   dependent on the national economy, the fate of the region lies in the hands of its people. Careful planning on both the local and regional levels must be undertaken in order not only to assist in the recovery, but also to mold the shape of the recovery.

View the full document here.