Company News
Apr 14, 2025
NOVACES Awarded Prime Contract by Hudson Valley Regional Council to create a Comprehensive Economic Development Strategy
NOVACES announced that it has been awarded a prime contract by the Hudson Valley Regional Council (HVRC) to create a Comprehensive Economic Development Strategy (CEDS) for 2025-2029. The CEDS, a strategic planning document required by the U.S. Economic Development Administration for regions seeking federal funding for economic development projects, will also serve as a locally driven roadmap for regional economic growth and resilience.
NOVACES will deliver subject matter expertise through our Certified Economic Developer and Certified Workforce Development Professional personnel. Our specialists will conduct economic research and analysis focused on a seven-county region in the Mid-Hudson area of New York.
Working in close collaboration with the leadership of HVRC, local elected officials, and key stakeholders, including representatives from economic and industrial development agencies, business and industry associations, workforce development entities, and sustainability organizations, we will ensure a broad and inclusive approach.
The resulting CEDS will provide an in-depth analysis of the region’s economy and workforce, including:
- Affordable housing and associated water infrastructure needs
- Concerns regarding resilience based on the impact of extreme weather
- Economic diversification; targeting industries of the region and how the counties and municipalities are working to grow these strategic sectors for the future
- The role of HVRC in supporting the region
The purpose is to foster collaboration among local leaders and stakeholders while introducing national best practices. By pairing these insights with practical tools and resources, we equip communities to make informed, locally driven decisions. This approach prepares stakeholders to take effective action, driving economic resilience and sustainable, long-term growth.