Mission
To lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
U.S. Economic Development Administration (EDA) investments help to establish a foundation for long-term job growth and build 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 strong economy, and the attainment of national economic goals. Regional collaboration is essential for economic recovery. 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.
Value Proposition Statement
EDA’s Role
As the only federal government agency focused exclusively on economic development, EDA plays a critical role in facilitating regional economic development efforts in communities across the nation. Guided by the basic principle that economic development should be locally-driven, EDA works directly with communities and regions to help them build the capacity for economic development based on local business conditions and needs.
EDA’s grant investments in planning, technical assistance, and infrastructure construction are designed to leverage existing regional assets to support the implementation of economic development strategies that make it easier for businesses to start and grow. EDA’s flexible programs and structure enable nimble operations and allow for innovation and responsiveness to changing economic needs and conditions faced by its local and state government partners. Grants made under these programs are designed to leverage existing regional assets to support the implementation of economic development strategies that advance new ideas and creative approaches to advance economic prosperity in distressed communities.
EDA provides economic development financial assistance to communities so they can encourage innovation and entrepreneurship in a way that works best for them. Through its network of regionally-based staff and portfolio of flexible grant tools, EDA helps communities experiencing economic distress, take control of their future and position themselves for economic prosperity. In addition, EDA leads the integration of economic development resources from all sources, including federal, state, local and philanthropic, to ensure we are best leveraging our investments and achieving better outcomes for communities across America.
About EDA
Investment Programs
Assistance to Coal Communities (ACC)
EDA designates a portion of its Economic Adjustment Assistance funding to support communities and regions that have been negatively impacted by changes in the coal economy.
Build to Scale (B2S)
The Build to Scale (B2S) Program builds regional economies through scalable startups and includes three competitions supporting entrepreneurship, acceleration of company growth, and increased access to risk capital across regional economies.
Economic Adjustment Assistance
Assists state and local interests in designing and implementing strategies to adjust or bring about change to an economy. The program focuses on areas that have experienced or are under threat of serious structural damage to the underlying economic base. Under Economic Adjustment, EDA administers its Revolving Loan Fund (RLF) Program, which supplies small businesses and entrepreneurs with the gap financing needed to start or expand their business.
Local Technical Assistance
Helps fill the knowledge and information gaps that may prevent leaders in the public and nonprofit sectors in distressed areas from making optimal decisions on local economic development issues.
Planning
Supports local organizations (Economic Development Districts, Indian Tribes, and other eligible areas) with short and long-term planning efforts. The Comprehensive Economic Development Strategy (CEDS) Content Guidelines, provides suggestions, tools, and resources for developing comprehensive economic development strategies.
Public Works
Empowers distressed communities to revitalize, expand, and upgrade their physical infrastructure to attract new industry, encourage business expansion, differentiating local economies, and generate or retain long-term, private sector jobs and investment.
Recompete Pilot Program
Provides flexible grant investments to alleviate persistent economic distress and support long-term, comprehensive economic development and job creation. The program targets areas where prime-age (2554 years) employment significantly trails the national average.
Regional Technology and Innovation Hubs (Tech Hubs)
Aims to strengthen U.S. economic and national security by investing directly into regions with the assets, resources, capacity and potential to become globally competitive innovation centers within approximately 10 years, while catalyzing the creation of jobs at all skill levels. The program mobilizes cross-sector, multijurisdictional consortia to participate in the development of a critical technology ecosystem.
Research and National Technical Assistance (RNTA)
The RNTA program funds research, evaluation, and national technical assistance projects that promote competitiveness and innovation in distressed rural and urban regions throughout the United States and its territories.
Revolving Loan Fund (RLF)
EDA provides Economic Adjustment Assistance grants to eligible recipients to capitalize or recapitalize lending programs that service businesses that cannot otherwise obtain traditional bank financing (and in limited situations to governmental entities for public infrastructure). These loans provide access to capital as gap financing to enable small businesses to grow and generate new employment opportunities with competitive wages and benefits.
Austin Regional Office
Arkansas, Louisiana, New Mexico, Oklahoma, Texas
Upon request the OEDA staff is available to provide assistance to OEDA member governments with planning and development activities that better the quality of the economic environment.
Please contact Lacey deWindt-Morris Economic Development Director
Email: ldeWindt@oeda.org
Phone: 580-823-7639
Comprehensive Economic Development Strategy Report
Below is the OEDA Comprehensive Economic Development Strategy Report for 2020-2024
Below is the OEDA Comprehensive Economic Development Strategy Report for 2015-2019