The Economic Development Administration (EDA) is the only federal government agency focused exclusively on economic development and plays a critical role in fostering regional economic development efforts in communities across the nation. Through strategic investments that foster job creation and attract private investment, EDA supports development in economically distressed areas of the United States.
EDA works directly with local economic development officials to make grant investments that are well-defined, timely, and linked to a long-term, sustainable economic development strategy.
Public Works. EDA empowers distressed communities to revitalize, expand, and upgrade their physical infrastructure to attract new industry, encourage business expansion, diversify local economies, and generate or retain long-term, private sector jobs and investment.
Economic Adjustment. EDA assists state and local interests in designing and implementing strategies to adjust or bring about change to an economy. The program focuses on areas that have experienced or are under threat of serious structural damage to the underlying economic base. Under Economic Adjustment, EDA administers its Revolving Loan Fund (RLF) Program, which supplies small businesses and entrepreneurs with the gap financing needed to start or expand their business.
Partnership Planning. EDA supports local organizations (Economic Development Districts, Indian Tribes, and other eligible areas) with long-term planning efforts.
Trade Adjustment Assistance for Firms. EDA has a national network of eleven Trade Adjustment Assistance Centers to help strengthen the competitiveness of American companies that
have lost domestic sales and employment because of increased imports of similar goods and services.
University Centers. EDA’s University Centers are a partnership of the federal government and academia that makes the varied and vast resources of universities available to the economic development community.
Research and National Technical Assistance. EDA supports research of leading edge, world class economic development practices and information dissemination efforts.
Local Technical Assistance. EDA helps fill the knowledge and information gaps that may prevent leaders in the public and nonprofit sectors in distressed areas from making optimal decisions on
local economic development issues.