Within the parameters of a competitive grant process, all projects are evaluated to determine if they advance global competitiveness, create jobs, leverage public and private resources, can demonstratereadiness and ability to use funds quickly and effectively, and link to specific and measureable outcomes. To facilitate evaluation, EDA has established the following investment priorities:
- Collaborative Regional Innovation
Investments that support the development and growth of innovation clusters1 based on existing regional competitive strengths. Such initiatives must engage relevant stakeholders; facilitate collaboration among urban, suburban, and rural (including tribal) areas; provide stability for economic development through long-term intergovernmental and public/private collaboration; and support the growth of existing and emerging industries.
- Public/Private Partnerships
Investments that use both public and private sector resources and complementary investments by other government/public entities and/or nonprofits.
- National Strategic Priorities
Investments that: a. encourage job growth and business expansion in manufacturing, including advanced manufacturing, sustainable manufacturing, and manufacturing supply chains; b. assist communities severely impacted by the declining use of coal; c. increase economic resiliency, including resilience to the effects of natural disasters and climate change; d. assist with natural disaster mitigation and recovery; e. are aimed at restoring or improving urban waters and the communities that surround them; and f. assist and/or support: i. information technology infrastructure (for example, broadband or smart grid); ii. communities severely impacted by automotive industry restructuring; iii. job- driven skills development; iv. access to capital for small- and medium-sized and ethnically diverse enterprises; v. innovations in science and health care; and vi. advancement of science and research parks, other technology transfer, or technology commercialization efforts.
- Global Competitiveness
Investments that support high-growth businesses and innovation-based entrepreneurs to expand and compete in global markets, especially investments that expand U.S. exports, encourage foreign direct investment, and promote the repatriation of jobs back to the U.S.
- Environmentally-Sustainable Development
Investments that promote job creation and economic prosperity through enhancing environmental quality and developing and implementing green products, processes, places, and buildings as part of the green economy. This includes projects that encourage job growth, business expansion, and innovations in energy-efficient technologies and clean energy, including alternative fuel technologies. Additional information is available on EDA’s website at http://www.eda.gov/pdf/GreenGrowthOverview.pdf. (PDF)
- Underserved Communities
Investments that strengthen diverse communities that have suffered disproportionate economic distress and job losses and/or are rebuilding to become more competitive in the global economy.