U.S. Economic Development Administration, EDA reauthorized by Congress for first time in 20 years

Admin l Thursday, December 19, 2024

 

WASHINGTON – The U.S. Department of Commerce’s Economic Development Administration (EDA) celebrates its historic reauthorization by Congress, allowing it to continue its legacy of promoting American innovation and competitiveness by providing grants and support to communities across the country.

Since 1965, EDA has led some of the nation’s most impactful programs to strengthen public works and infrastructure, job creation and workforce development, disaster recovery, and technology and industry advancement. EDA has not been formally reauthorized since 2004.

“Reauthorization will allow EDA to continue meeting its mission of ensuring communities across the country have the resources they need to expand economic opportunity, invest in innovation, and recover from disasters. This bipartisan support from Congress will allow EDA to evolve, modernize, and provide the services that communities across the nation need to build resilient, thriving local economies,” said U.S. Secretary of Commerce Gina Raimondo.

“EDA’s investments have helped countless communities invest in their local workers and businesses, and reauthorization means they will continue creating and saving jobs, and bringing new investment to every corner of our country.”

From the period of January 2021 through November 2024, EDA was responsible for directing nearly $6 billion in investments in 3,393 awards across nearly every state and federal territory. These projects are creating or saving more than 554,700 jobs and generating more than $67.7 billion in private investment. These investments include hundreds of construction projects, creating thousands of good-paying jobs that modernize American infrastructure and support long-term, resilient economic growth.

“The country has changed since EDA was last authorized, with new industries, new challenges, and the residual impacts of a global pandemic and the rising intensity of natural disasters. Over the last 20 years, EDA has evolved to ensure its programs make America’s communities more competitive, resilient, and secure.

This reauthorization legislation will allow EDA to continue to meet the moment for generations to come,” said Acting Assistant Secretary for Economic Development Cristina Killingsworth.

Key benefits of EDA’s reauthorization include:

Strengthening Tools to Support EDA’s Role in Job Creation and Placement:

Codifies EDA’s role in establishing industry-led workforce training partnerships that invest in innovative approaches to workforce development that will secure job opportunities for Americans.

Aligns EDA to better support other key Department of Commerce priorities, including:

Supply Chain and Manufacturing: including elements of The ONSHORE Act for prospective site development in industries with national security implications

Broadband: Modernizes EDA’s ability to deliver broadband projects via inclusion of the E-BRIDGE Act

Modernizing EDA’s Authorities for Critical Grants and Resource Delivery

Establishes the Office of Disaster Recovery and Resilience: EDA is uniquely positioned to coordinate federal support for regional disaster recovery efforts in partnership with its extensive network of Economic Development Districts(EDDs), University Centers, and other stakeholders in designated impact areas.

Adds and modernizes eligibility criteria considerations, allowing for the consideration of additional key statistical factors to support grantmaking.

Improving EDA Operational Efficiency and Transparency

Codifies an EDA definition of pre-development enabling EDA to provide assistance to distressed communities to prepare for much larger infrastructure investments in the future.

Permanently enacts EDA’s disaster hiring authority enabling it to quickly respond to meet the needs of future disasters.

Formalizes the relationship between EDA and Regional Commissions, increasing efficacy of regional programs.

EDA’s reauthorization is a critical component of the Thomas R. Carper Water Resources Development Act of 2024, which passed with bipartisan support in Congress.

“EDA is driving our nation’s job growth, building resilient supply chains, and investing in our local economies. Reauthorizing the EDA will give this critical agency the tools and resources it needs to better support local businesses and organizations and equip our communities with climate-resilient infrastructure, in turn strengthening both local and regional job creation and our competitiveness abroad,” said EPW Chairman Senator Tom Carper in a previous statement.

“This reauthorization will help the EDA carry out its mission to drive investment, create jobs, and grow our local economies, particularly in rural states like mine of West Virginia. I appreciate Chairman Carper, Senator Cramer, and Senator Kelly for joining in this effort to reauthorize the EDA,” said EPW Ranking Member Senator Shelley Moore Capito
“I am proud to have helped negotiate this package to reauthorize the Economic Development Administration and recognize the importance of tourism and outdoor recreation for economic development…,” said Ranking Member of the House Subcommittee on Economic Development, Public Buildings and Emergency Management, Representative Dina Titus in a previous statement.

“This measure also includes important provisions to reauthorize and modernize federal economic development programs…. I want to thank Ranking Member Rick Larsen, Subcommittee Chairman David Rouzer, Subcommittee Ranking Member Grace Napolitano, as well as Chairman Carper and Ranking Member Capito in the Senate, for their hard work in developing and negotiating this final measure,” said Transportation and Infrastructure Committee Chairman Sam Graves in a previous statement.

“…I applaud today’s passage of the Water Resources Development of 2024… “This legislation also includes provisions to grow the economy and create jobs by reauthorizing the Economic Development Administration…T&I Democrats remain focused on delivering good-paying jobs and safer, cleaner, greener and more accessible transportation for all Americans,” said Ranking Member of the House Committee on Transportation and Infrastructure, Representative Rick Larsen.