About the Award:
The EAA program provides a wide range of technical, planning, and public works and infrastructure assistance in regions experiencing adverse economic changes that may occur suddenly or overtime. These adverse economic impacts may result from a steep decline in manufacturing employment following a plant closure, changing trade patterns, catastrophic natural disaster, a military base closure, or environmental changes and regulations.
The CARES Act provides $1.5 billion in disaster economic recovery for the EAA program. Eligible activities include construction and nonconstruction activities (e.g., infrastructure, design and engineering, and technical assistance).
The EAA program is EDA’s most flexible program. Under the EAA program, EDA can fund market and environmental studies, planning or construction grants, and capitalize or recapitalize revolving loan funds (RLFs) to help provide small businesses with the capital they need to grow.