Obama Administration Makes $37 Million Available to Create Jobs, Strengthen Economies of Trade-Impacted Communities
Federal Funding Available Under EDA’s Community Trade Adjustment Assistance Program
WASHINGTON – The U.S. Commerce Department’s Economic Development Administration (EDA) has announced that nearly $37 million in grants is available to help communities suffering from the adverse effects of import competition develop ways to more effectively compete in the global economy. The funding is available under EDA’s Community Trade Adjustment Assistance (Community TAA) Program, which was created in the American Recovery and Reinvestment Act of 2009.
“While global markets offer tremendous opportunity for economic growth, they also present challenges for many communities,” U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez said. “The Community TAA Program will help American communities develop strategies and projects that will transform their communities and help them regain economic competitiveness. By funding projects that support innovation and entrepreneurship and encourage regional collaboration we are able to partner with communities to create a framework for sustainable economic development for years to come.”
SEE COMMENT FROM RICH BENDIS AT END OF ARTICLE
In a Federal Funding Opportunity (FFO) announcement notice in the Federal Register, EDA outlined that these grants will help communities develop strategic plans to respond to their changing economic landscape and to implement those plans by funding infrastructure and other activities.
Funds will be disbursed through EDA’s six regional offices in the form of grants to communities (cities, counties, or other political subdivisions of a state or a consortium of political subdivision of a state) to create jobs and generate private sector investment by promoting comprehensive, entrepreneurial and innovation-based economic development efforts.
Applications for the competitive grants will be evaluated based on the extent to which applications address the following six criteria:
• Support small and medium-sized communities
• Assist the most severely impacted communities
• Deliver a high return on investment
• Support regionalism, innovation and entrepreneurship
• Support global trade and competitiveness
• Grow the “green economy”
The notice published in the Federal Register may be viewed at: http://edocket.access.gpo.gov/2010/pdf/2010-273.pdf and the FFO announcement detailing eligibility and application requirements may be viewed on EDA’s website at: http://www.eda.gov/PDF/CommunityTAAFFOFINAL2.pdf. In addition, applicants can visit: http://www.eda.gov/InvestmentsGrants/CommunityTAA.xml for complete and updated information on the program.
EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster economic growth and job creation. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the global economy.
Additional information on how EDA programs are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.
COMMENT FROM RICH BENDIS PUBLISHER OF innovationDAILY:
THE OBAMA ADMINISTRATION FINALLY HAS A PROGRAM THAT HAS SOME OF THE MAGIC WORDS WE HAVE BEEN WAITING FOR........INNOVATION AND ENTREPRENEURSHIP. WHILE IT IS ONLY $37 MILLION DOLLARS, THE EDA CAN HELP PROGRESSIVE CITIES, REGIONS AND STATES PLAN AND DEVELOP STRATEGIES FOR REGIONAL INNOVATION PROGRAM IMPLEMENTATION.WHEN I WAS CEO OF INNOVATION PHIADELPHIA , WE WERE FORTUNATE TO WORK WITH A PROGRESSIVE EDA REGIONAL OFFICE IN PHILADELPHIA AND RECEIVED OVER $1MILLION DOLLARS TO HELP DEVELOP SEVERAL NEW INNOVATION BASED ECONOMIC DEVELOPMENT PROGRAMS WHICH STILL FUNCTION TODAY.
I BELIEVE THE EDA CAN BE A EFFICTVE GOVERNMENT PARTNER TO ASSIST YOUR ORGANIZATIONS AND RECOMMEND YOU CONTACT YOUR REGIONAL EDA OFFICE TO EVALUATE HOW YOU CAN PARTICIPATE IN THIS ECONOMY BUILDING PROGRAM.
RICH BENDIS
