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On February 16, 2024, Deputy Secretary of Commerce Don Graves joined Biden-Harris Administration leaders at the White House for the release of the U.S. Department of Commerce’s 2023 update to its Equity Action Report. The report’s release coincided with the first anniversary of Executive Order 14091, President Biden’s second Executive Order on equity. Among its highlights is the Economic Development Administration’s (EDA) stewardship of $3 billion in funding distributed to 780 diverse grantees — many of whom are working at the forefront of equitable economic development — through President Biden’s American Rescue Plan.

During February, EDA joins other U.S. Department of Commerce bureaus in celebrating Black History Month. EDA’s commitment to equity and expanding opportunity for Black Americans permeates everything we do throughout the year.

Through transformational investments like the regional Tech Hubs initiative and Build Back Better Regional Challenge, the U.S. Economic Development Administration (EDA) has centered the creation and curation of regional industry clusters at the forefront of the nation’s economic development agenda. When strategically placed and properly supported, industry clusters can be effective in steering the direction and development of local economies.  

For nearly 45 years, the Economic Development Administration’s (EDA) University Center program has empowered leading colleges and universities to become champions of regional economic ecosystems. These centers provide small businesses and local governments with research-informed technical assistance leading to job creation, business expansion, and the development of highly-skilled talent pools.

On December 13, Secretary of Commerce Gina M. Raimondo visited the Russell Center for Innovation and Entrepreneurship in Atlanta, Georgia. There, she announced the 60 finalists for the U.S. Economic Development Administration’s (EDA) $1 billion Build Back Better Regional Challenge, which provides up to $100 million per grantee to boost economic pandemic recovery and rebuild American communities.

In 2005, Hartford, Connecticut, experienced an economic earthquake when the Swift Factory closed its doors. For 120 years, the company provided gold leafing to national landmarks and government institutions nationwide, employing generations of workers in Hartford’s north end neighborhood – and one of its poorest. Overnight, those jobs disappeared, increasing disparities across the city.

On Wednesday, November 3, Assistant Secretary of Commerce for Economic Development Alejandra Y. Casillo testified before the Senate Committee on Environment and Public Works during an oversight hearing to examine programs at the Economic Development Administration (EDA) and review programs for reauthorization.