EDA provides strategic investments on a competitive merit basis to support economic development, foster job creation, and attract private investment in economically distressed areas of the United States. Grants and cooperative agreements made under these programs are designed to leverage existing regional assets and support the implementation of economic development strategies that advance new ideas and creative approaches to advance economic prosperity in distressed communities.
EDA's investment priorities are designed to provide an overarching framework to guide the agency's investment portfolio to ensure its investments have the greatest impact. Competitive applications will be responsive to the evaluation criteria and will align with at least one of the following investment priorities:
For FY19, approximately $117,500,000 was appropriated for the Public Works program, $37,000,000 for the EAA program and an additional $30 million in EAA funds for ACC. Historically, EDA has awarded funds for between 80 and 150 Public Works and between 70 and 140 EAA projects a year.
Examples of past successful projects are available here: https://www.eda.gov/annual-reports/fy2012/
All proposed projects are evaluated to determine the extent to which they align with EDA's investment priorities, create or retain high-quality jobs, leverage public and private resources, demonstrate the ability to start the proposed project promptly and use funds quickly and effectively, and provide a clear scope of work and specific, measurable outcomes.
Eligible applicants include (1) District Organizations; (2) Indian Tribes or a consortium of Indian Tribes; (3) State, county, city, or other political subdivisions of a State, including a special purpose unit of a State or local government engaged in economic or infrastructure development activities, or a consortium of political subdivisions; (4) Institutions of higher education; and (5) Public or private non-profit organizations or associations acting in cooperation with officials of a political subdivision of a State
Applications are accepted on a rolling basis. All submissions must proceed through the two-phase review process.
EDA strongly encourages applicants to consult with the EDA representative for their state to discuss whether their project is in alignment with EDA's investment priorities, eligibility requirements, cost-sharing requirements, property standards, or other requirements.
Individual awards vary based on project size and scope. Investments for Public Works Projects generally range from $600,000 to $3,000,000 each. The EDA awards 80 to 150 of these projects annually. Investments for Economic Projects generally range from $150,000 to $1,000,000 each. The EDA awards 70 to 140 of these projects annually. Cost sharing/matching of 50% is recommended for both program categories.