The Economic Development Administration (EDA) has $335 million available for grants to support state, regional and community efforts to create wealth and minimize poverty by promoting a favorable business environment to attract private capital investment and high skill, high wage jobs through world-class capacity building, infrastructure, business assistance, research grants and strategic initiatives.
EDA encourages only those investment proposals that will significantly benefit areas experiencing or threatened with substantial economic distress. Distress may exist in a variety of forms, including but not limited to: High levels of unemployment, low income levels, large concentrations of low-income families, significant declines in per capita income, substantial loss of population because of the lack of employment opportunities, large numbers (or high rates) of business failures, sudden major layoffs or plant closures, military base closures, natural or other major disasters, depletion of natural resources, and/or reduced tax bases.
Most of the funding ($250 million) is available under Public Works and Economic Development Assistance program. The remaining funds are distributed through Planning Assistance for Economic Development Districts, Indian Tribes, States, and Other Development Organizations; Technical Assistance-Local Technical Assistance, National Technical Assistance, and University Centers; Trade Adjustment Assistance; and, Economic Adjustment Assistance programs.
Potential applicants must submit a pre-application proposal to the appropriate EDA representative for the area or regional office. Based on review of the preproposal, the EDA representative may recommend submission of a full proposal.
Funding priority areas have been identified for potential projects, including: