Department of Commerce Economic Development Administration Print Share
Department of Commerce Economic Development AdministrationThe Economic Development Administration was established under the Public Works and Economic Development Act of 1965 (42 U.S.C. 3121), as amended, to generate new jobs, help retain existing jobs, and stimulate industrial and commercial growth in economically-distressed areas of the United States. EDA assistance is available to rural and urban areas of the nation experiencing high unemployment, low-income levels, or sudden and severe economic distress. In fulfilling its mission, the Economic Development Administration is guided by the basic principle that distressed communities must be empowered to develop and implement their own economic development and revitalization strategies. Based on these locally- and regionally-developed priorities, the Economic Development Administration works in partnership with state and local governments, regional economic development districts, public and private nonprofit organizations, and Indian tribes. The Economic Development Administration helps distressed communities address problems associated with long-term economic deterioration, the closure of military installations and other Federal facilities, as well as sudden and severe economic dislocations including recovering from the economic impacts of natural disasters. Economic Development Administration |