Urban New Jersey Regions Receive U.S. EDA Funding for Economic Assessment
September 13, 2010
Contact: John Atwood, (202) 482-4085
WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $240,000 grant to Thomas Edison State College of Trenton, N.J., to develop an urban economic assessment that will identify types of distress within 19 non-contiguous urban areas. The project will establish the basis for a Comprehensive Economic Development Strategy (CEDS) to address urban distress in the northern and central part of New Jersey.
"This EDA grant will provide a blueprint to guide future economic development initiatives designed to spur business development and job growth in the region," said U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez. "The project will be advanced by taking advantage of the vast resources available through Thomas Edison State College."
"The Thomas Edison State College urban economic assessment will provide an assessment of the landscape of economic development for the targeted cities and specifically assess their unique urban needs. The project will help promote growth and sustainability for each of the targeted distressed areas," said Dr. Joseph Youngblood, III, Dean, Thomas Edison State College, School of Public Service.
The work to be conducted will occur in nineteen municipalities within seven counties. The municipalities of Asbury Park, Bayonne, Bloomfield, East Orange, Elizabeth, Hoboken, Irvington, Jersey City, Lakewood, Neptune, New Brunswick, Newark, Orange, Passaic, Paterson, Perth Amboy, Plainfield, Roselle and Woodbridge have experienced an increased level of disinvestment due to sudden and severe job loss experienced during 2009 and 2010.
About the U.S. Economic Development Administration (www.eda.gov):
This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.