Incorporating systems thinking into economic development planning could lead to better solutions to potential and pressing problems, says a Quarterly Research Brief from the National Economic Research and Resilience Center (NERRC). The paper emphasizes that systems, or integrated planning, is essential when writing a Comprehensive Economic Development Strategy (CEDS).

The Economic Development Administration (EDA) announced 60 organizations receiving $53 million from the Build to Scale program today. This is the program’s 10th and largest award cycle, following years of consistent appropriations growth from Congress.

The U.S. Economic Development Administration’s (EDA’s) annual Build to Scale (B2S) program (previously Regional Innovation Strategies) completed its tenth award cycle this year, with over $270 million in grants across 437 awards since inception in Fiscal Year (FY) 2014. FY 2023 was the largest award cycle, totaling $53 million in federal awards across the Venture and Capital Challenges.

The "CHIPS and Science Act" authorizes both the National Science Foundation (NSF) and the U.S. Economic Development Administration (EDA) to implement programs to enable regional technology development and economic and job growth through NSF Regional Innovation Engines (NSF Engines) and EDA Regional Technology and Innovation Hub (Tech Hubs) programs. To officially enable cooperation between the two agencies as they pursue these similar goals, NSF and EDA signed a memorandum of understanding MOU. The MOU allows for coordinating specific projects, programs, and facilities.

SSTI has released a new data tool that defines investment activity, one indicator of the vibrancy of a region’s innovation economy, in each of 18 technology areas.

The U.S. Economic Development Administration has recently made multiple staff appointments for its national program offices. Cristina Killingsworth is now EDA’s deputy assistant secretary for policy and external Affairs, having formerly been chief of staff for the International Trade Administration.

The U.S. Department of Commerce’s Economic Development Administration (EDA) has received 378 applications from 48 states for Phase 1 of the Regional Technology and Innovation Hubs (Tech Hubs) competition. In total, 48 states and three territories submitted 378 Tech Hubs Phase 1 applications.

The U.S. Department of Commerce’s Economic Development Administration (EDA) recently announced the 11 recipients of the 2023 STEM Talent Challenge. The challenge supports programs to train science, technology, engineering, and math (STEM) talent and fuel regional innovation economies across the nation.

This week the Economic Development Administration (EDA) announced it had completed awarding $27.9 million in cooperative agreements to establish eight economic development Communities of Practice, including the Technology-Based Economic Development (TBED) Community of Practice led by SSTI to help build the capacity and disseminate effective technology-based economic development practices across the innovation industry

Did you use the Recompete Mapping Tool to check your eligibility for this new EDA funding opportunity when the fact sheet and map were first released? If you did, and you got the response, “Contact your local economic development office” don’t stop there! EDA has updated its mapping tool in the past few days to reflect significant flexibility in program eligibility.

Earlier today, the Economic Development Administration (EDA) announced the 2023 notice of funding opportunity (NOFO) for the Build to Scale program. State and local governments, nonprofits, higher education institutions, National Labs, and others can compete for $50 million to support new and expanded initiatives supporting regional commercialization, entrepreneurship, and capital formation efforts.

Two competitions comprise the FY 2023 Build to Scale program:

Have you ever wondered whether there is a federal program that supports tech-based economic development (TBED) strategies and initiatives--even if it doesn’t explicitly state that science, technology, innovation, or entrepreneurship are priority uses of funds? Actually, a wide variety of federal programs can support these programs. To help organizations identify sources of funding that could be useful, SSTI interviewed representatives from the Economic Development Administration (EDA) to understand better how they can use specific funding opportunities to support TBED activities.

In an email sent out this morning, EDA announced, “Given the high volume of applications, EDA is now only requiring the Lead Organization to register in EDGE.” EDGE is EDA’s new grants management platform. The email encourages applicants to “please focus on getting your application materials prepared and having the Lead Organization submit them in EDGE. Application acceptance will not be affected if consortium members are not registered in EDGE.

The EDA’s Revolving Loan Fund (RLF) can be an important tool for supporting tech-based economic development initiatives. In the newest addition to SSTI’s Federal Funding Video Library, Matt Knutson, program analyst with EDA, provides an overview of how organizations can use this funding opportunity. Whether you’re seeking to understand the application process or explore how the RLF program aligns with your region’s TBED strategy, this video offers valuable insights and guidance.

Late last week, the Economic Development Administration (EDA) released “Tech Hubs Program Fact Sheet,” which provides some information on where the Tech Hubs program is headed. However, the sheet leaves many questions unanswered and raises new questions about how the program will be administered. The program, authorized in the CHIPS and Science Act at $10 billion, received $500 million in funding to date.

The Economic Development Administration (EDA) has updated its Comprehensive Economic Development Strategy (CEDS) Content Guidelines, effective April 2023. CEDS are strategy-driven plans for economic development prepared through a regionally owned planning process.

In a recent installment of SSTI’s federal funding video series, SSTI program director Jerry Coughter conducted a two-part interview with Amanda Kosty, management and program analyst with the Economic Development Administration’s Office of Innovation and Entrepreneurship.

The Distressed Area Recompete Pilot Program (Recompete Pilot Program)—authorized by the CHIPS and Science Act— will invest $200 million toward interventions that spur economic activity in geographically diverse and persistently distressed communities nationwide. The program will support economic revitalization in distressed communities across the country.

By a bipartisan vote on Tuesday, the U.S. Senate Committee on Environment and Public Works approved legislation that would reauthorize the Economic Development Administration for the first time since 2004.

When Dan Berglund, SSTI’s president and CEO, testified in a hearing before the House on an early draft of the U.S. Innovation and Competition Act, he noted that funding from the federal government that addresses the whole innovation system rather than individual elements of the system would be critical to building a regional innovation economy and different than any other federal program.

Expanding U.S. innovation capacity sits at the heart of SSTI’s mission, and it was that driving force that guided our response to the Economic Development Administration’s request for information to inform the planning and design of the regional Technology and Innovation Hub (Tech Hubs) program last week. With $10 billion authorized for the program, and $500 million appropriated, the opportunity for growth in the nation demands a thoughtful and actionable plan.

EDA is now accepting applications for its $4.5 million FY 2023 STEM Talent Challenge to support programs to train science, technology, engineering, and math (STEM) talent and help fuel regional innovation economies.

The Economic Development Administration today announced $504 million in funding across 12 Tech Hubs, the culmination of a 14-month selection process to choose the first regions funded for implementation projects under the program. The 12 Hubs receiving implementation awards are listed in the graphic below.

The Senate Committee on Appropriations this morning advanced a funding bill that includes $25 million for Regional Innovation Strategies — $4 million more than the current funding round.

The Economic Development Administration is now accepting applications for the Regional Innovation Strategies program through April 4. Funding is available through the i6 Challenge, focused on transforming innovations into products and services, and Seed Fund Support, to help expand the availability of investment capital for startups. SSTI will again be hosting an informational webinar with EDA — see details and register below.

Regional Innovation Strategies program FY 2019 informational webinar
Tuesday, Feb. 12 @ 2 P.M. EST