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February 2020

Spotlight: EDA Launches the Build to Scale Program, a Redesign of its Regional Innovation Strategies Program

Build to Scale logo

On February 19, during National Entrepreneurship Week (February 15-22), EDA announced the launch of its redesigned Regional Innovation Strategies (RIS) program. The redesigned program, now called Build to Scale (B2S), builds regional economies through scalable startups. The modernized brand reflects the spirit of the entrepreneurship communities it serves.

Congress has appropriated $33 million for the RIS program in FY20, and EDA has designed a streamlined application process to better address growing demand. The increased funding and improved application process will enable EDA to reach more communities and scale the impacts of the program.

Click here to read more.

Success Story: The Russell Center for Innovation and Entrepreneurship Brings Diverse Economic Growth to Atlanta Opportunity Zone

Caption below with the quote 'Entrepreneurship heled my dreams come true. I want the same for other young people looking to make good lives for themselves. -Herman J. Russell, Sr.'
The Russell Center for Innovation and Entrepreneurship

Founded by the late Herman J. Russell, an Atlanta entrepreneur and philanthropist, H.J. Russell & Company is the largest minority-owned real estate and construction company in the United States. Today, H.J. Russell and its subsidiaries employ more than 2,000 workers in 10 cities across the United States.

Honoring the great legacy and visionary business leadership of company founder Herman J. Russell, The Russell Center for Innovation and Entrepreneurship (RCIE) is the largest center in the country that’s driven by community impact and devoted to empowering African American entrepreneurs and small business owners.

After their father’s passing in 2014, Herman's three children embarked on converting the H.J. Russell & Company’s old headquarters building into RCIE, changing the narrative by telling the untold and under-told stories of African American entrepreneurs and business leaders of past and present, while offering access to place and space, resources, networks, mentorship, technical assistance, and education.

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Highlight: International Economic Development Council Recognizes EDA University Center at Delaware State University for Advancing Entrepreneurial Opportunities in Underserved Communities

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DSU College of Business students and faculty at IEDC Annual Conference

The University Center for Economic Development and International Trade (UCEDIT) at Delaware State University’s (DSU) College of Business partners with EDA through the University Center Economic Development Program. Together, they have cultivated a highly skilled regional workforce and have advanced entrepreneurship in the state of Delaware by providing key decision makers across the public, private, and non-profit sector with access to timely economic development information, and technical assistance.

At the 2019 International Economic Development Council (IEDC) Annual Conference in Indianapolis, DSU’s UCEDIT was recognized as a leading program among universities for training minority and underrepresented students in economic development through its Economic Development and Leadership Institute (EDLI).

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White House Opportunity Now Summit

Assistant Secretary Fleming speaks on the Opportunity Now Summit Panel alongside White House Opportunity and Revitalization Council Executive Director Scott Turner; General Counsel at White House Council on Environmental Quality Viktoria Seale; the city of High Point’s Michael McNair; and Bernhard Capital Partners Managing Director, Thomas Henley.

On February 7, Assistant Secretary Fleming participated on a panel during the first White House Opportunity Now Summit in Charlotte, North Carolina. Since FY2018, EDA has invested more than $362 million in 272 projects to support projects in or near Opportunity Zones. President Trump gave closing remarks at the event.


Assistant Secretary Fleming Addresses Utah Working Group on Administration Efforts to Promote Opportunity Zones

Assistant Secretary Fleming delivered remarks to the Intermountain Impact and Opportunity Zone Working Group

On February 4, Assistant Secretary Fleming delivered remarks to the Intermountain Impact and Opportunity Zone Working Group at University of Utah, SJ Quinney Law School in Salt Lake City. Read remarks.


President Trump’s State of the Union Address

Tony Rankin being recognized at SOTU

At this month’s State of the Union Address, President Trump highlighted Tony Rankin, who made an incredible comeback thanks to Opportunity Zones, one of EDA’s investment priorities.


CEDS Content Guidelines Update

EDA CEDS Content Guidelines Update

EDA has updated CEDS Content Guidelines to help American communities maximize their ability to attract investment to Opportunity Zones.


ACE 13 Applications Open

ACE 13 Applications Open

Applications are OPEN for the 13th Americas Competitiveness Exchange, which will take place in Colorado, May 17 – 22, 2020. Be one of the 50 top performers from across the Americas in economic development and innovation and take your ideas to the next level! Apply Now.


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EDA in the News!

CUC awarded $1.7M to build water filtration system
Saipan Tribune, 2/17/20

Idaho State University College of Technology Awarded $2.3 Million Grant
Idaho State University News, 2/7/2020

Driving SCC Forward
The Sampson Independent, 2/5/2020

Opportunity Zones: How Will We Know If Communities Reap The Benefits?"
Corridor News, 2/3/2020

Economic Development Administration to award $720,000 grant for disaster recovery
Dayton 24/7 Now, 2/3/2020

Economic Development Administration to award $720,000 grant for disaster recovery
Forbes, 1/29/2020

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