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General FAQ
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Is there a difference between Economic Development and Economic Growth?  There are significant differences between economic growth and economic development.The term "economic growth" refers to an increase (or growth) in real national income or product expressed usually as per capita income. National income or product itself is commonly expressed in terms of a measure of the aggregate output of the economy called gross national product (GNP). Per capita income then is simply gross national product divided by the population of the country. When the GNP of a nation rises, whatever the means of achieving the outcome, economists refer to it as economic growth. The term "economic development," on the other hand, implies much more when used in relation to a country or an entire economy. It typically refers to improvements in a variety of indicators, such as literacy rates and life expectancy, and it implies a reduction in poverty. (Source Wikipedia: June 10, 2007 http://en.wikipedia.org/wiki/Economic_development) 83,33% of 6 voters found this FAQ useful, I found this FAQ  useful  not usefulWhat area does BREDD cover? BREDD serves three counties in western Montana, Mineral, Ravalli, and Missoula. 100,00% of 1 voters found this FAQ useful, I found this FAQ useful not usefulWhat do these acronyms stand for? Bitter Root RC and D: Bitter Root Resource Conservation and Development 100,00% of 1 voters found this FAQ useful, I found this FAQ useful not usefulWhat is a CEDS? A CEDS is a Comprehensive Economic Development Strategy. A CEDS is a document required by the Federal Economic Development Administration (EDA) to obtain funding. EDA is a division of the U.S. Department of Commerce. The CEDS was created under the EDA Reform Act of 1998, and replaces the OEDP (Overall Economic Development Program) process. 0% of 0 voters found this FAQ useful, I found this FAQ useful not usefulWhat is the benefit to a CEDS? Developing a CEDS for this region will make the area eligible to obtain grants from EDA as well as the State Department of Commerce. By developing a CEDS and getting it approved, we will have the opportunity to apply for larger grants as projects develop. Without a CEDS, we are not eligible. We are facing many economic development challenges throughout the region, and some projects are fairly large. Having another source of grant funds will help us implement these projects in the years ahead. 0% of 0 voters found this FAQ useful, I found this FAQ useful not usefulWhat is the CEDS all about? The CEDS is designed to "help guide the economic growth of an area." It is a tool to help: 0% of 0 voters found this FAQ useful, I found this FAQ useful not usefulWhat programs does the EDA offer? The EDA has a variety of programs which may be applicable for this region. The most likely program that this region would use is the Economic Development Assistance Programs (EDAP). The current funding for this program at EDA is over $250 million dollars, nationwide. To learn more about these EDA programs visit this link http://www.bredd.org/EDA_Brochure.pdf ALSO, EDA is one of the best sources to fund business incubators. Prior CEDS have been key in securing funds for the Direct TV project, the Montana Technology Enterprise Center (MonTec), the Ravalli County Business Incubator. EDA also funds infrastructure development, Brownfield’s development, and much more. In order to secure funds from the EDAP’s the project must be consistent with the regions CEDS. For that reason it is important to have participation from the community. 0% of 0 voters found this FAQ useful, I found this FAQ useful not useful |
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