What does the US Economic Development Administration do?

Answer 1

Housed in the U.S. Department of Commerce, the Economic Development Administration is “the only federal government agency focused exclusively on… facilitating regional economic development efforts,” primarily in regions of economic distress. The EDA functions through “regionally-based staff” who collaborate “with communities and regions” to plan strategies and “build the capacity for economic development.” Towards these strategies, the EDA’s “[g]rant investments in planning, technical assistance, and infrastructure construction” provide resources for regional organizations and business cooperatives to “leverage existing regional assets” and reduce obstacles to market entry and participation. EDA staff aim to optimize effectiveness through “the integration of economic development resources from all sources,” such as from philanthropies and the three scales of government. (Source: https://www.eda.gov/about)