EDA reopens Public Works and Economic Adjustment Assistance Programs

After a nine-month hiatus, the Economic Development Administration has reopened its Public Works and Economic Adjustment Assistance programs with an updated Notice of Funding Opportunity. In the past, this funding has supported a variety of technology-based economic development projects, including research commercialization centers, business incubators and accelerators, revolving loan funds, workforce development initiatives, and regional strategic planning activities, as well as other infrastructure and economic development projects in economically distressed communities.  

This year, EDA expects award amounts to range from $600,000 to $5 million for Public Works projects and $150,000 to $2.5 million for Economic Adjustment Assistance projects. Matching funds are required, with the federal share ranging from 60-80% based on regional distress level. Eligible applicants include governments, tribes, higher education institutions, nonprofits, economic development organizations, and public-private partnerships; individuals and for-profit entities are not eligible.  

Proposed projects must meet EDA distress criteria and align with at least one of EDA’s five investment priorities: 

Projects must also be consistent with the region’s current Comprehensive Economic Development Strategy (CEDS) or equivalent EDA-accepted economic development strategy. Note that this opportunity also funds “strategy grants” to develop, update, or refine a regional CEDS. For more background on how TBED organizations can effectively engage with CEDS planning, see SSTI and NADO’s joint webinar exploring the intersection of regional economic development strategies and TBED. 

Applications are accepted on a rolling basis until funds are exhausted. 

The October Entrepreneurship Development subcommunity meeting will explore how these funding opportunities can support entrepreneurship initiatives in your region. Register here to join the discussion.