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EDA Mission

U.S. Economic Development Administration. EDA Mission. To lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. U.S. Economic Development Administration. Public Works

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EDA Mission

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  1. U.S. Economic Development Administration EDA Mission To lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.

  2. U.S. Economic Development Administration • Public Works • Economic Adjustment • Planning • Technical Assistance • Trade Adjustment Assistance • Research Investment Programs

  3. U.S. Economic Development Administration PhiladelphiaRegional Office Connecticut Delaware District of Columbia Maine Maryland Massachusetts New Hampshire New Jersey New York Pennsylvania Rhode Island Vermont Virginia West Virginia Puerto Rico Virgin Islands Approximately 28% of the Nation’s Economy

  4. U.S. Economic Development Administration Funding Applications Annual Basis: National Technical Assistance Research Trade Adjustment Assistance Rolling Basis: Public Works Economic Adjustment Planning Local Technical Assistance Eligible Applicants Economic Development Districts, States, City and Local Governments, Indian Tribes, Colleges and Universities, Nonprofit Organizations

  5. U.S. Economic Development Administration Comprehensive Economic Development Strategy (CEDS) CEDS A long range plan that evaluates the state of a region, makes recommendations and prioritizes projects Proposed projects must be recognized within a region’s CEDS Participate with your regional body; typically a Planning Commission or Council of Governments For examples: http://www.nado.org/resources/CEDS/index.php

  6. EDA Investment Priorities Priority will be given to proposals that: • Enhance regional competitiveness and support long-term development of the regional economy; for example: • Upgrade core business infrastructure including transportation, communications, and specialized training program infrastructure. • Reflect and implement a regional strategy that involves all stakeholders and: • Supports regional benchmarking initiatives; • Encourages institutional collaboration; • Reflects strong leadership commitment; and • Encourages a formalized structure to maintain consensus.

  7. U.S. Economic Development Administration Investment Eligibility Primary Measures of Distress The most recent 24 month unemployment rate exceeds the national rate by at least one percent Per Capita Income is 80% or less than the national level

  8. U.S. Economic Development Administration • Be market-based and results-driven. • Have strong organizational leadership. • Advance productivity, innovation, and entrepreneurship. • Look beyond the immediate economic horizon, anticipate economic changes, and diversify the local and regional economy. • Demonstrate a high degree of commitment by exhibiting: • High levels of local-government or nonprofit matching funds and private-sector leverage. • Clear and unified leadership and support by local elected officials. • Strong cooperation between the business sector, relevant regional partners, and local, state, • and federal governments.

  9. U.S. Economic Development Administration Funding Applications EDA has been allocated $150 million through the American Recovery and Reinvestment ACT (ARRA): $100 million for Public Works and Facilities Development or Economic Adjustment $50 million must be used for Economic Adjustment Shovel Ready Projects Got Permits?

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