The South Central CT Regional Economic Development Corporation, a.k.a. REX Development, serves as the federally designated Economic Development District (EDD). In this role, we maintain the Comprehensive Economic Development Strategy (CEDS) and provide oversight on progress towards the stated goals and objectives. The EDD includes the towns of Bethany, Branford, East Haven, Guilford, Hamden, Madison, Meriden, Milford, New Haven, North Branford, North Haven, Orange, Wallingford, West Haven, and Woodbridge.
REX Development collaborates with its partners to evaluate the feasibility of proposed projects, provide project background information, aid in the planning process, and facilitate the execution of the project plan. Through our comprehensive engagement with stakeholders, we also identify regional requirements and strive to connect people and enterprises to find solutions and progress projects. REX Development provides a pragmatic perspective when examining new prospects or resolving problems. With a presence in the region for over 20 years, we are trusted advisors and partners providing historical context and accessing resources.
REX Development offers comprehensive support to entrepreneurs, small businesses, and growing companies. Our region's startups and small businesses often seek technical aid in accessing resources and complying with regulations. Grant recipients face the challenge of following strict guidelines and reporting requirements. Expanding companies may require guidance to find suitable spaces or skilled workers. We provide the necessary assistance.
We collect and share valuable information and data on the local economy, industry trends, and business prospects. We interact with municipal economic development administrators, investors, professional organizations, and community groups to disseminate this knowledge. Our aim is to promote informed decision-making and effective strategies that benefit the community. We also actively engage with other influential members of the community to build strong relationships that can be mutually beneficial.
At REX Development, we work closely with local, regional, and national economic development stakeholders. We have limited resources, so building strong relationships with our partners is crucial in achieving our initiatives. To ensure maximum impact, we collaborate with all partners to create a coordinated approach toward economic development. These relationships have strengthened after the past few years as we responded to the pandemic crisis.
We advocate for policies and initiatives that promote economic growth, job creation, and a business-friendly environment through support for regulatory changes, legislative testimony, and stakeholder education. Our goal is to create an environment where we can meet and exceed the goals and objectives developed for the 2023-2028 South Central Connecticut Comprehensive Economic Development Strategy.
We make a demonstrable and positive impact by assuming leadership roles in regional organizations. Through learning from other participants and sharing our expertise, we can influence decision-making processes and ensure alignment with the goals and objectives of the CEDS across a broad range of social and economic issues. Our involvement also helps us expand our network, connecting us with individuals and businesses committed to promoting economic and social well-being.
Every year, REX Development conducts a thorough analysis of the demographics, socioeconomic status, and economic health of the region. This continual assessment enables us to recognize patterns and utilize our knowledge to recommend ways to capitalize on new prospects or mitigate the effects of unfavorable circumstances.