The Valley Council of Governments guides regional Economic Development through its position on the Steering Committee for the Naugatuck Valley Comprehensive Economic Development Strategy (CEDS) group. The Shelton Economic Development Corporation (SEDC) and the Waterbury Development Corporation (WDC) prepared and submitted a new (2010) Comprehensive Economic Development Strategy (CEDS) for the 18 municipalities that make up the Naugatuck Valley Corridor. Required by the US Department of Commerce Economic Development Administration (EDA), the CEDS allows the region to qualify for EDA assistance.
The CEDS is designed to guide the economic growth of the region. It helps create jobs, fosters more stable and diversified economies, and improves living conditions. It provides a mechanism for coordinating the resources of individuals, organizations, local governments and private industry concerned with economic development.