25,000 Jobs Created or Retained Thanks to Economic Development Administration’s FY17 Investments

Jul 20, 2018

Throughout fiscal year 2017, the U.S. Economic Development Administration (EDA) invested roughly $289.1 million in locally-driven economic development projects across the country. In its FY17 report, the EDA estimates that these investments will help create or retain roughly 25,233 jobs, and generate more than $3.4 billion in private investment. The EDA is an agency under the Department of Commerce tasked with leading the federal economic development agenda, and fostering innovation and competiveness with the economy.

The report provides a breakdown of all of EDA’s activities by state, including the agency’s $17 million Reginal Innovation Strategies program, which aims to encourage entrepreneurship in both urban and rural communities across the country. Deputy Assistant Secretary for Regional Affairs Dennis Alvord surmised, “Through our comprehensive grants programs providing support for infrastructure, disaster recovery, economic adjustment, planning, trade adjustment assistance, access to capital and technical assistance, EDA partners with communities throughout the economic development lifecycle, from planning through implementation. With this flexible set of tools, EDA is able to support a wide range of community needs.”

To view the full report, click here: https://www.eda.gov/files/annual-reports/fy2017/EDA-FY2017-Annual-Report-full.pdf