Today, U.S. Deputy Secretary of Commerce Rebecca Blank released the Department of Commerce’s fiscal year 2014 budget request, which supports President Obama’s plan for an economy built to last with crucial investments in advanced manufacturing, innovation, trade promotion and enforcement, and research and development. These investments are designed to help grow the economy, create jobs and strengthen the middle class. The $8.6 billion budget request is an increase of $1 billion over the fiscal year 2012 level. The Department also identified a total of $195 million in administrative savings.
The President’s FY 2014 budget also strengthens the Economic Development Administration's (EDA) capacity to invest in American manufacturing, infrastructure, and exports. The allocations support the agency's priorities and investment programs at the highest level of funding in more than ten years. EDA's flexible programs address a variety of economic development needs, particularly through its Economic Adjustment Assistance and Public Works programs, which invest in critical infrastructure needs, strategic planning, and provide access to capital.