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).
Example Eligible IAQ Activities:
Heat Source Replacement, Insulation, Water Disposal Systems, HVAC Upgrades
The EAA program can assist state and local entities in responding to a wide range of economic challenges through:
Strategy Grants to support the development, updating or refinement of a Comprehensive Economic Development Strategy (CEDS).
Implementation Grants to support the execution of activities identified in a CEDS, such as infrastructure improvements, including site acquisition, site preparation, construction, rehabilitation and equipping of facilities. Specific activities may be funded as separate investments or as multiple elements of a single investment
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.
The Federal Funding Opportunity (FFO) is available at http://www.eda.gov/funding-opportunities/index.htm. To discuss any project proposals in further detail, contact your EDA Regional Office.
The U.S. Economic Development Administration's investment policy is designed to establish a foundation for sustainable job growth and the building of durable regional economies throughout the United States. This foundation builds upon two key economic drivers - innovation and regional collaboration. Innovation is key to global competitiveness, new and better jobs, a resilient economy, and the attainment of national economic goals. Regional collaboration is essential for economic recovery because regions are the centers of competition in the new global economy and those that work together to leverage resources and use their strengths to overcome weaknesses will fare better than those that do not. EDA encourages its partners around the country to develop initiatives that advance new ideas and creative approaches to address rapidly evolving economic conditions.