Handbook > Infrastructure> Economic Development >
Economic Development Assistance Programs
| Program Description: |
Economic Development Assistance Program: EDA will give priority consideration to those applications that will significantly benefit regions “that have experienced sudden and severe economic dislocation and job loss due to corporate restructuring,” as stipulated under the Recovery Act. EDA provides financial assistance to distressed communities in both urban and rural regions.
Evaluation criteria for proposals include a preference for projects that: are market–based and results driven; show strong organizational leadership; advance productivity, innovation and entrepreneurship; look beyond the immediate economic horizon, anticipate economic changes and promote economic diversification; demonstrate a high degree of local commitment.
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| Federal Agency: |
U.S. Economic Development Administration (Commerce Department)
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| Agency Website: |
http://www.eda.gov/
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| National Total: |
$150 million: $50 million for economic adjustment assistance, with priority consideration to areas that experienced sudden and severe economic hardships due to corporate restructuring. No more than 2% of the funds can be used for administration and oversight. Up to $50 million of the funds are for federally authorized regional economic development commissions.
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| New York State Total: |
Undetermined. Awards are being made through competitive grants.
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| Entities Eligible to Apply: |
District organizations; Indian tribes or a consortium of Tribes; a state, city, or other political subdivision of a state, including a special purpose unit of a state or local government engaged in economic or infrastructure development activities, or a consortium of political subdivisions; institutions of higher education or a consortium; public or private non–profit organization or association acting in cooperation with officials of a political subdivision of a state
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| Flow of Funds: |
Direct from EDA to grantee
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| Obligation Deadline: |
Applications are accepted on a continuing basis and are processed as received.
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| Reporting Requirements: |
Standard financial and performance (technical) reports are required in accordance with the terms and conditions of the grant award.
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| State Agency: |
Empire State Development
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| State Agency Website: |
www.recovery.ny.gov www.empire.state.ny.us
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| State Agency Technical Contact: |
Christopher Walsh
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| Additional Information: |
Use this form to request additional information. |
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