Tapping into the programs of the EDA U.S. Department of Commerce Economic Development Administration (EDA) Tonia R. Williams, CEcD Economic Development Representative trwilliams@eda.doc.gov
Mission To lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
EDA s Goal To target investment assistance on attracting private capital investment and creating higher-skill, higher-wage jobs in those communities and regions suffering from economic distress.
Funding Priorities Long-term, coordinated and collaborative regional economic development approaches Establish comprehensive regional economic development strategies that identify opportunities for long term economic growth. Committed multi-jurisdictional support
Funding Priorities Innovation and competitiveness Develop and enhance functioning and competitiveness of leading and emerging industry clusters Advance technology transfer from research institutions to commercial marketplace Bolster critical infrastructure
Funding Priorities Entrepreneurship Cultivate a favorable entrepreneurial environment consistent with regional strategies Enable economic regions to identify innovative opportunities among growth oriented small and medium size enterprises Promote community and faith-based entrepreneurship programs
Funding Priorities Strategies and investments that connect regional economies w/worldwide marketplace Strategies to help regional economies boost exports Promote foreign direct investments
Additional Consideration Sudden and severe economic dislocations (major layoffs, plant closures, disasters) BRAC-impacted (transition from military to civilian economy)
Additional Consideration Historic preservation & Economic development Brownfields
Investment Policy Guidelines Market based and results driven Strong organizational leadership Advance productivity, innovation and entrepreneurship Anticipates economic changes and diversify the local and regional economy High degree of commitment
Eligible Applicants States and units of local governments Indian Tribes Economic Development Districts Public and private non-profit organizations* Universities and institutions of higher education * Must act in cooperation with local government
Eligibility Unemployment (at least 1% higher than the national average) Per capita income (80% or less than the national average) Special Need (job losses, natural disasters, military base closures) http://statsamerica.org/pre/distress/dist ress.html
Maximum Grant Rate Varies based upon level of economic distress 50-80%
Matching Funds Federal State Local Private Bond Financing Bank Financing In Kind
Programs of the EDA Construction Related Public Works and Development Facilities Program Economic Adjustment Assistance Program Non construction Related Planning Technical Assistance Economic Adjustment University Centers Trade Adjustment Assistance for Firms Research and National Technical Assistance
Public Works & Development Facilities Program (11.300) Supports the construction or rehabilitation of essential public infrastructure and development facilities necessary to generate private sector jobs and investment Typical investment request: infrastructure to serve industrial parks, industrial sites, port and airport terminals; incubators, workforce development/skills training facilities, location or expansion of industry
Public Works Investments PUL Alliance-Pontotoc County (FY08) Water system improvements- ($2M) Prentiss County (FY 07) Infrastructure improvements- $2M
Economic Adjustment Assistance Program (11.307) Design and implementation strategies to adjust or bring about change; program focuses on areas that have experienced or are under threat of serious structural damage (sudden and severe or long-term) Typical investment request: (a) essential public infrastructure and development facilities, (b) economic adjustment strategies/plans, (c) Revolving Loan Fund
Economic Adjustment Harrison & Stone Counties (FY 09) Long term recovery strategy- $400K City of Jackson (FY 09) Corridor Study- $400K Three Rivers MS PDD (FY 09) GIS Mapping- $99,835K Copiah County (FY 09) Water system improvements- $425K
Planning Program (11.302) Provides support for the formulation and implementation of local economic development programs as well as strategies designed to create and retain permanent jobs and increase incomes for economically distressed areas. Typical investment request: studies
Planning Northeast MS PDD (FY 09) GIS Mapping- $99,835K
Local Technical Assistance Program (11.303) Helps fill the knowledge and information gaps that may prevent leaders in the public and nonprofit sectors in distressed areas from making optimal decisions on local economic development issues Typical investment requests: feasibility studies, tourism development strategies, economic data analysis
Technical Assistance City of Waveland (FY 09) Feasibility Study- $24K Jackson State University (FY 08) Planning Study- $58K
FY 2009 Regional Allocation (by program) Public Works and Development Facilities: $28.5 M Economic Adjustment Assistance: $6.5 M (construction & non construction) Short term Planning: $615K Local Technical Assistance: $227K
Supplemental Appropriations (Atlanta) Disaster Supplemental I: $8.7M Disaster Supplemental II: $57.9M American Recovery & Reinvestment Act: $30.3M
EDA s Application Process Rolling basis; no application deadlines Single application E-grants (grants.gov) Check out our website www.eda.gov