Six programs, collectively called Investing in America’s Communities, will equitably invest the $3 billion EDA received from President Biden’s American Rescue Plan. The programs aim to assist communities in their efforts to build back better by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks. EDA is making a Coal Communities Commitment, allocating $300 million of this funding to ensure support for coal communities.
The Build to Scale (B2S) Program builds regional economies through scalable startups and includes three competitions supporting entrepreneurship, acceleration of company growth and increased access to risk capital across regional economies.
Assists state and local interests in designing and implementing strategies to adjust or bring about change to an economy. The program focuses on areas that have experienced or are under threat of serious structural damage to the underlying economic base. Under Economic Adjustment, EDA administers its Revolving Loan Fund (RLF) Program, which supplies small businesses and entrepreneurs with the gap financing needed to start or expand their business.
Printable Economic Adjustment Program (PDF)
This program is a network of Economic Recovery Corps fellows to add human capital to local organizations focused on improving economic resilience and competitiveness in distressed regions across the country.
Equity Impact Investments provides technical assistance to enable organizations serving underserved populations and communities to participate in economic development planning and projects.
Local Technical Assistance
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.
Printable Local Technical Assistance Program (PDF)
Empowers distressed communities to revitalize, expand, and upgrade their physical infrastructure to attract new industry, encourage business expansion, diversify local economies, and generate or retain long-term, private sector jobs and investment.
Printable Public Works Program (PDF)
Supports local organizations (Economic Development Districts, Indian Tribes, and other eligible areas) with short and long-term planning efforts. The Comprehensive Economic Development Strategy (CEDS) Content Guidelines, provides suggestions, tools, and resources for developing comprehensive economic development strategies.
Printable Planning Program (PDF)
The RNTA program funds research, evaluation, and national technical assistance projects that promote competitiveness and innovation in distressed rural and urban regions throughout the United States and its territories.
A national network of 11 Trade Adjustment Assistance Centers to help strengthen the competitiveness of American companies that have lost domestic sales and employment because of increased imports of similar goods and services.
A partnership of the federal government and academia that makes the varied and vast resources of universities available to the economic development community.
Printable University Centers Program (PDF)
Report: Making Connections, Evaluation Project to Assess Best Practices in EDA’s University Center Program (PDF)
EDA possesses broad and deep experience in successfully coordinating resources across multiple programs and special initiatives. Based upon this experience and EDA’s historic track record of successful collaboration with a range of stakeholders (both federal and non-federal), the Office of Management and Budget (OMB) has designated EDA to lead the federal government’s efforts to maximize the integration of economic development resources from all sources, including federal, state, local and philanthropic, to achieve more impactful and sustainable outcomes for communities across America.