U.S. Economic Development Administration’s Statement on the Signing of the American Relief Act, 2025
Continuing Resolution provides $1.5 billion for economic development assistance for areas impacted by natural disasters in 2023 and 2024
WASHINGTON — Acting U.S. Assistant Secretary of Commerce for Economic Development Cristina Killingsworth issued the following statement on the American Relief Act, 2025:
“I am pleased that Congress passed and President Biden has signed the American Relief Act of 2025 into law, appropriating $1.5 billion to the U.S. Economic Development Administration (EDA) for relief to American communities impacted by natural disasters.
“This necessary funding enables EDA to continue to aid areas that received a major disaster declaration in 2023 and 2024 — including communities affected by Hurricanes Helene and Milton, major flooding, tornadoes, and the Maui wildfires — and allows communities to continue building stronger, more resilient economies.”
EDA’s disaster recovery and resilience activities include repairing and replacing infrastructure, financing small business assistance through EDA’s revolving loan fund (RLF) program, rebuilding impacted industries, and accelerating innovation and entrepreneurship in affected disaster areas to diversify and strengthen local economies. EDA also helps communities prepare for future disasters by funding projects that contribute to both regional economic resilience and hazard mitigation. Disasters such as Hurricanes Helene and Milton and the wildfires in Maui caused widespread devastation in impacted communities and this funding will allow for holistic economic recovery efforts. EDA’s also facilitates the timely and effective delivery of federal economic development assistance through long-term community economic recovery planning and project implementation, redevelopment, and resilience.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.