Equity Impact Investments
What is the Equity Impact Investments Program?
The Economic Development Administration’s (EDA) new Equity Impact Investments (EII) program aims to provide capacity, knowledge, and technical assistance to organizations that serve underrepresented populations. The EII Program will also create strong partnerships and collaborations between these organizations.
Who will lead the EII Program?
New Growth Innovation Network (NGIN) was awarded a $5.5 million grant to design and launch this new initiative in partnership with Local Initiatives Support Corporation (LISC) and the International Economic Development Council (IEDC). The program seeks to build a coalition of organizations to enhance and sustain their participation and engagement in various economic development initiatives, while also creating opportunities for EDA projects to better serve underserved populations and communities, such as urban cores, women, people of color, and any group that has been historically underserved.
Assistant Secretary Alejandra Castillo meets M. Yasmina McCarty to launch Equity Impact Investments.
What are the desired outcomes for this program?
Equity Impact Investments will focus on the development and delivery of training and toolkits that disseminate knowledge of economic development best practices in serving underrepresented populations. These resources will initially be made available to 60 to-be-selected community-based organization and 60 to-be-selected economic development organizations that serve underrepresented populations with final program assets ultimately provided to all EDA grantees.
In addition, a series of 24 geographically diverse, in-person workshops will offer technical assistance and forge fundraising coalitions and interorganizational connectivity.
Equity Impact Investments will deliver a transformative, three-year, capacity-building program to 120 organizations operating at the forefront of equitable development in the United States. Funded through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, this initiative is a part of EDA’s commitment to ensuring the consistent and systemic, fair, just, and impartial treatment of all individuals, including individuals who belong to underserved communities.
If you have any questions or comments about EDA’s Equity Impact Investments, please contact Networks@eda.gov.