The Economic Development Administration (EDA) provides funding for projects that create jobs and leverage private investment in distressed areas of the United States. EDA grants help to fulfill regional economic development strategies designed to accelerate innovation and entrepreneurship, advance regional competitiveness, create high-skill living-wage jobs, generate private investment, and fortify growing industry clusters.
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. EDA encourages its partners around the country to develop initiatives that advance new ideas and creative approaches to address rapidly evolving economic conditions.
As an Economic Development District (EDD) through the U.S. Department of Commerce, Buckeye Hills serves as the liaison between the EDA and eligible applicants in the District. In our role as an EDD, Buckeye Hills prepares and submits a Comprehensive Economic Development Strategy (CEDS) every five years to evaluate and determine the economic health of the region.
Through its competitive grant process, EDA evaluates all project applications to determine the extent to which they:
The Economic Adjustment Assistance (EAA) program is EDA’s most flexible program. It provides a wide range of technical, planning, and public works and infrastructure assistance in regions experiencing adverse economic changes that may occur suddenly or over time. 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 EAA program can assist state and local entities in responding to a wide range of economic challenges through:
Under EAA, EDA can also 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 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 over time. 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 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 ability of the proposed project to realistically achieve the desired results and catalyze additional resources; The ability of a project to start quickly and create jobs faster; The extent to which the project will enable the community/region to become more diversified and more economically prosperous; The relative economic distress of the region; The applicant’s performance under previous Federal financial assistance awards, including whether the grantee submitted required performance reports and data; The comparative feasibility of the applicant to achieve the outcomes identified in the application.
For examples of successful EDA projects, visit eda.gov/annual-reports/
The Federal Funding Opportunity (FFO) is available at eda.gov/funding-opportunities/index.htm
Need Help Planning a Project and Applying for Grants?
Our region has no shortage of good ideas. By completing our Ideas & Intake form, you are providing the information necessary to begin transforming your idea into a fundable project.
