Economic Development Administration Overview
To lead the Federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
The U.S. Economic Development Administration's (EDA) investment policy is designed to establish a foundation for sustainable job growth and the building of durable regional economies throughout the United States. This foundation builds upon two key economic drivers - innovation and regional collaboration. Innovation is key to global competitiveness, new and better jobs, a resilient economy, and the attainment of national economic goals. Regional collaboration is essential for economic recovery and prosperity because regions that work together to leverage resources and use their strengths to overcome weaknesses will fare better in a global economy than those that do not. EDA encourages its partners around the country to develop new ideas and creative approaches to address rapidly evolving economic conditions.
As the only Federal government agency focused exclusively on economic development, EDA currently plays a role in facilitating regional economic development efforts in communities across the nation.
Guided by the basic principle that sustainable economic development should be locally-driven, EDA works directly with communities and regions to help them build the capacity for economic development based on local business conditions and needs. EDA’s grant investments in planning, technical assistance, and infrastructure construction are designed to leverage existing regional assets to support the implementation of economic development strategies that make it easier for businesses to start and grow.
EDA’s flexible programs and structure enable nimble operations and allow for innovation and responsiveness to changing economic needs and conditions faced by its local and State government partners. Grants made under these programs are designed to leverage existing regional assets to support the implementation of economic development strategies that advance new ideas and creative approaches to advance economic prosperity in distressed communities.
EDA provides economic development financial assistance to communities so they can encourage innovation and entrepreneurship in a way that works best for them. Through its network of regionally-based staff and portfolio of flexible grant tools, EDA helps communities experiencing economic distress take control of their future and position themselves for economic prosperity and resiliency. In addition, EDA leads the integration of economic development resources from all sources, including Federal, State, and local, to achieve better outcomes for communities across America.
- The data presented in this report represent the official grant data for awards (organized by Applicant State) made by EDA in FY 2017. EDA has verified the data through a reconciliation process, conducted annually, between EDA’s grant management systems and the Department of Commerce’s accounting system. As such, any previously provided information regarding EDA awards made in FY 2017 should be viewed as a snapshot of the data available at the time of the data request and are subject to any changes, corrections, or updates as reflected within this report. This includes, but is not limited to, revisions to the number, dollar amount, program classification and estimated impacts of specific grant awards.
- Projects described within individual State entries are provided as illustrative examples. No project preference should be inferred from these examples. EDA uses this report to demonstrate the breadth and diversity of EDA programs and the projects which it funds.
- FY 2017 EDA investments include four U.S. Territories; Puerto Rico, the U.S. Virgin Islands, American Samoa and Guam.