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EDA Invests $2.5 Million to Make Wastewater Infrastructure Improvements Needed to Protect Businesses and Support Economic Growth in Marble Falls, Texas

EDA grant announcement in Marble Falls, Texas On September 3, EDA announced a $2.5 million grant at an event in the city of Marble Falls, Texas, to fund the engineering and design of a new flood-resistant wastewater treatment plant that will increase the city’s capacity to protect businesses from flooding and encourage additional business development. The EDA grant, to be matched with $625,000 in local investment, is expected to retain 750 jobs.

At the event, Joel Frushone, EDA’s Director of External Affairs and Communications, was joined by Congressman Roger Williams (TX-25), Burnet County Judge James Oakley, Marble Falls Mayor John Packer, and Texas Association of Regional Councils Executive Director Ginny Lewis Ford.

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EDA Awards its First CARES Act Grant to Three Rivers Planning and Development District in Pontotoc, Mississippi, to Help Combat Economic Effects of COVID-19

CARES Act Three Rivers graphic On June 16, EDA awarded its first Coronavirus Aid, Relief, and Economic Security (CARES) Act Recovery Assistance grant in the amount of "$400,000 to the Three Rivers Planning & Development District, in Pontotoc, Mississippi. The grant will be used to hire a Disaster Recovery Coordinator, update economic development plans with business and industry leaders, and fortify programs to assist communities in responding to the coronavirus pandemic.

Three Rivers Planning & Development District is one of the more than 850 existing, high-performing EDA Economic Development District, University Center, Tribal, and Revolving Loan Fund (RLF) grant recipients invited to apply for supplemental funding under the CARES Act. As an EDA-designated EDD, Three Rivers helps to lead the locally-based, regionally driven economic development planning process that leverages the involvement of the public, private and non-profit sectors to establish a strategic blueprint for regional collaboration.

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EDA’s nearly $175 million in Foreign Direct Investment projects in Distressed Communities Attract Investors from Across the Globe

FDI Top Destination Markets 2019 Foreign Direct Investment (FDI) is one of EDA’s main investment priorities and critical to supporting projects that promote and facilitate business investments in the United States.

In 2019, global FDI stayed at a flat rate at $1.39 trillion, compared to $1.41 trillion in 2018. However, unlike the larger declines in other economies, the United States received consistent FDI between 2018 and 2019, with $251 billion in 2019.1

These estimated numbers reflect that the United States is the largest recipient for FDI in the world, with inflows at least $100 billion greater than those of any other destination market.

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Yeshiva University’s Innovation Lab Uses Federal Direct Investments to Share Innovative, Life-Saving Ideas

Yeshiva University in NYC In April, EDA awarded a $1.4 million grant to Yeshiva University’s (YU) Innovation Lab in a New York City Opportunity Zone to provide technical assistance to Israeli firms seeking to locate in New York City.

The YU Innovation Lab is a faculty and student-led startup accelerator that couples modern innovation with Jewish values and traditions, fostering a culture focused on transforming human insight into business value. YU partners with other labs from Israel and NYC to provide technical assistance and global business opportunities, and already EDA’s investment is having a significant impact.

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Opportunity Zones Toolkit Volume 2 Now Available to Guide Local Economic Development Plans and Strategies to Maximize Opportunity Zone Investment Across the Country

EDA logo In partnership with the White House Opportunity and Revitalization Council (WHORC), the Department of Housing and Urban Development (HUD) recently issued its Opportunity Zones Toolkit Volume 2(PDF), a guide for local leaders to use when developing and implementing economic development strategies to leverage their Opportunity Zone designations.

The Toolkit builds on the roadmap established in the Opportunity Zones Toolkit Volume 1 (PDF) and provides tips, resources, and best practices to assist local leaders in economic development planning.

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EDA Policy Actions and Investments in Support of Opportunity Zones Prominently Featured in White House Opportunity and Revitalization Council Report to the President

EDA logo

Report Outlines Best Practices and Features Examples of Community Revitalization Occurring Across the Nation in Opportunity Zones

A White House Opportunity and Revitalization Council (Council) report that was delivered to (PDF) President Donald J. Trump this month outlining Opportunity Zone best practices and examples of revitalization occurring across America prominently features policy actions and grants made by the Economic Development Administration (EDA) that are generating investment in Opportunity Zones.

Created by President Donald J. Trump’s Tax Cuts and Jobs Act of 2017, Opportunity Zones are spurring economic development in economically-distressed communities nationwide.

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Applications for CARES Act Non-Competitive Awards Accepted Through Mid-June and Competitive Awards on Rolling Basis

EDA logo On May 7, the Economic Development Administration (EDA) began accepting applications for our CARES Act Recovery Assistance funding opportunities.

The $1.5 billion in Economic Adjustment Assistance funds made available to EDA to help communities prevent, prepare for, and respond to the coronavirus pandemic are authorized under the $2 trillion CARES Act signed into law by President Donald J. Trump on March 27.

Since releasing our CARES Act Recovery Assistance Notice of Funding Opportunity, EDA has invited more than 850 existing, high-performing Economic Development Districts (EDD), University Centers, Tribal Groups, and Revolving Loan Fund (RLF) grant recipients to apply for non-competitive supplemental funding to conduct assessments to fortify programs to assist communities in responding to the pandemic.

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Applications Open for $1.5 Billion in EDA CARES Act Funds to Respond to COVID-19 Pandemic

CARES Act graphic EDA is now accepting applications from eligible grantees for $1.5 billion in economic assistance to help communities prevent, prepare for, and respond to the COVID-19 pandemic using funds authorized by under the CARES Act that was signed into law by President Donald J. Trump on March 27.

An Addendum to our Fiscal Year 2020 Public Works and Economic Adjustment Assistance Notice of Funding Opportunity (FY20 PWEAA NOFO) has been published, making the funds available. Under this announcement, EDA will make CARES Act Recovery Assistance grants under the authority of its Economic Adjustment Assistance (EAA) program, which is our most flexible and responsive program to help meet the economic development needs and priorities of local and regional stakeholders.

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EDA University Center Participates in Cross-Campus Collaboration to Aid Response to COVID-19 Pandemic

Member of the For Oklahoma Covid-19 Task Force Helps to Create PPE An EDA University Center partner, the Tom Love Innovation Hub at the University of Oklahoma (OU), is participating in a cross-campus effort to create and validate essential medical equipment in support of our healthcare heroes.

Led by Innovation Hub Executive Director Tom Wavering and Dr. Yacoub Al Sakka, director of digital technologies in the OU College of Dentistry, OU's For Oklahoma Covid-19 Task Force is comprised of more than 40 individuals. Together across three campuses, they are combining their expertise to develop, prototype, validate and offer recommended essential equipment designs.

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Pennsylvania College of Technology’s Welding Expansion Project Adds 35,000 Square-Feet of Learning Space

Pennsylvania College of Technology President Davie Jane Gilmour at a dedication ceremony for the new expanded lab Last month was National Welding Month and in light of that, we wanted to highlight Pennsylvania College of Technology’s Welding Expansion Project.

The Project, funded in part by a $2 million EDA investment, includes an additional 35,000 square feet of hands-on learning space for the Lycoming Engines Metal Trades Center to allow up to 300 welding students to enroll per year.

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