Economic Development Administration
FY 2009 Budget in Brief
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Economic Development Administration
The Economic Development Administration (EDA)
helps our partners across the Nation (states, regions,
and communities) create wealth and minimize poverty
by promoting a favorable business environment to
attract private capital investments and higher-skill,
higher-wage jobs through capacity building, planning,
infrastructure investments, research grants, and
strategic initiatives. EDA carries out its Economic
Development Assistance Program (EDAP) through a
network of headquarters and regional personnel that
work directly with local organizations and leaders to
identify and invest in projects that demonstrate
potential for the greatest economic impact in
distressed communities.
EDA programs serve as a catalyst for assisting the
Nation’s distressed communities in achieving their
long-term economic potential through the strategic
investment of resources based upon locally and regionally developed priorities. EDA works in partnership with other
Federal agencies, state and local governments, regional economic development districts, public and private non-profit
organizations, Native American Indian Tribes, and Alaska Native Villages to accomplish its mission. The program
ensures its investments are targeted at communities that have been experiencing long-term chronic economic distress or
sudden and severe economic dislocation, typically characterized by substantial and persistent unemployment levels, low
income, slow population growth, loss of jobs, out-migration, and long-term economic deterioration.
In FY 2009, proposed funding for EDAP has been reduced to reflect current competing budget priorities and constraints.
EDA will allocate funds to the Economic Adjustment Assistance program (EDA’s most flexible program), where grants
are focused on communities facing sudden and severe economic distress, at a level similar to prior years. EDA will
similarly fund technical ass