Celebrating 20 Years of Impact: How CEDA’s Financing Programs Support Local Communities and Drive California’s Economic Success

The California Association for Local Economic Development (CALED) established the California Enterprise Development Authority (CEDA), a Joint Powers Authority (JPA), in 2006 to address gaps in economic development financing.

A key CEDA goal was to issue industrial development bonds (IDBs) for small-to medium-sized California manufacturers. Since that time, CEDA has issued IDBs, a powerful incentive for manufacturing businesses; 501(c)(3) non-profit bonds for businesses such as private schools, community centers, and health clinics; and Commercial Property Assessed Clean Energy (C-PACE) energy efficiency financing for retrofits and new development.

CEDA has proved to be nimble over the past 20 years, adapting to the needs of California communities. This was evident in the pivot to Recovery Zone (RZ) Bonds during the Great Recession. CEDA issued the most RZ bonds in the state by quantity, helping businesses adjust and survive a difficult economic crisis. CEDA also added C-PACE to its tools when enabling legislation was signed to help businesses finance energy efficiency improvements. Most recently, we created the Bonds Assisting New Development (BAND) program to help communities in creating and issuing debt for Community Facility Districts and Assessment Districts. The BAND program will also be used to issue bonds in tax increment finance (TIF) districts.

As these economic development tools gain wider popularity in California, CEDA will be there to help communities. CEDA’s financing programs support businesses and important projects in California cities and counties and bolster economic development success throughout the state.

Discover more on how strategic partnerships and accessible capital have transformed local communities over the past 2 decades in CEDA’s 20-Year Anniversary Report.