The Economic Development Administration (EDA) has announced on October 26 it is soliciting applications from applicants in rural and urban areas to provide investments that support construction, non-construction, technical assistance, and revolving loan fund projects under EDA’s Public Works and Economic Adjustment Assistance programs. 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 is employing a new two-phase review process for proposals/applications submitted under this FFO. There are no submission deadlines. Proposals and applications will be accepted on an ongoing basis until the publication of a new EDAP FFO. Proposals will be reviewed by EDA within 30 days of receipt; and following the proposal review, full applications will be reviewed within 60 days of receipt. Please see Section IV. of the attached FFO for complete information on EDA’s two-phase review process.
The average size of a Public Works investment has been approximately $1.4 million, and investments generally range from $200,000 to $3,000,000. Historically, EDA has awarded funds for between 80 and 150 Public Works projects a year.
The average size of an EAA investment has been approximately $820,000, and investments generally range from $100,000 to $1,250,000. Historically, EDA has awarded funds for between 70 and 140 EAA projects a year.
Competitive applications will be responsive to the evaluation criteria listed in Section V.A.2 of this FFO, and will align with at least one of the following investment priorities:
1. Collaborative Regional Innovation Projects that support the development and growth of innovation clusters based on existing regional competitive strengths. Such initiatives must engage relevant stakeholders; facilitate collaboration among urban, suburban, and rural (including tribal) areas; provide stability for economic development through long-term intergovernmental and public/private collaboration; and support the growth of existing and emerging industries.
EDA defines clusters as geographic concentrations of firms, workers and industries that do business with each other and have common needs for talent, technology, and infrastructure. Clusters are essentially networks of similar, synergistic, or complementary entities that are engaged in or with a particular industry sector; have active channels for business transactions and communication; share specialized infrastructure, labor markets, and services; and leverage the region’s unique competitive strengths to stimulate innovation and create jobs. Clusters may cross municipal, county, and other jurisdictional boundaries.
2. Public/Private Partnerships Projects that use both public and private sector resources and complementary investments by other government/public entities and/or nonprofits.
3. National Strategic Priorities Projects that:
a. encourage job growth and business expansion in manufacturing, including advanced manufacturing, sustainable manufacturing, and manufacturing supply chains;
b. assist communities severely impacted by the declining use of coal;
c. increase economic resiliency, including resilience to the effects of natural disasters and climate change;
d. assist with natural disaster mitigation and recovery;
e. are aimed at restoring or improving urban waters and the communities that surround them; and
f. assist and/or support: i. information technology infrastructure (for example, broadband or smart grid);
ii. communities severely impacted by automotive industry restructuring;
iii. job-driven skills development;
iv. access to capital for small-and medium-sized and ethnically diverse enterprises;
v. innovations in science and health care; and
vi. advancement of science and research parks, other technology transfer, or technology commercialization efforts.
4. Global Competitiveness Projects that support high-growth businesses and innovation-based entrepreneurs to expand and compete in global markets, especially investments that expand U.S. exports, encourage foreign direct investment, and promote the repatriation of jobs back to the U.S.
5. Environmentally-Sustainable Development Projects that promote job creation and economic prosperity through enhancing environmental quality and developing and implementing green products, processes, places, and buildings as part of the green economy. This includes projects that encourage job growth, business expansion, and innovations in energy-efficient technologies and clean energy, including alternative fuel technologies. Additional information is available on EDA’s website at http://www.eda.gov/pdf/GreenGrowthOverview.pdf.
6. Underserved Communities Projects that strengthen diverse communities that have suffered disproportionate economic distress and job losses and/or are rebuilding to become more competitive in the global economy.
