• The Top 5 Reasons The Economic Development Administration Should Be Reauthorized on page one, and the Bill Summary on page two of the PDF.

• The Economic Development Administration Reauthorization Act of 2008 PDF.

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The Economic Development Administration (EDA) was established under the Public Works and Economic Development Act of 1965 (PWEDA) to generate jobs, retain existing jobs, and stimulate industrial and commercial growth in the United States. EDA assistance is available to rural and urban areas of the Nation experiencing high unemployment, low income or other severe economic distress.

On October 27, 2004, President Bush signed into law the Economic Development Administration Reauthorization Act of 2004, which reauthorizes EDA’s economic development assistance programs through fiscal year 2008.

As EDA prepares for reauthorization of its programs next year, we encourage economic development professionals and any other individuals or groups to provide input. Please email your thoughts to EDA at EDA Reauthorization.

We welcome your input. This email account is designed to receive messages only. Responses from EDA will not be generated.

EDA Listening Sessions: Share Your Ideas on Revolving Loan Funds

EDA has been listening at Economic Development District (EDD) meetings in Maine, Arkansas and Illinois for ideas to make EDA programs work better for EDDs. We have received some interesting thoughts on the following topic.

The Revolving Loan Funds (RLF) program currently makes grants to state and local governments, as well as non-profit organizations, to establish lending programs that make capital available in distressed regions at below-market rates, or when funds are otherwise unavailable from private lenders. As long as loans are repaid, RLFs exist in perpetuity.

Would you want the flexibility to do any of the following with RLFs?

• convert from RLF funds to project funding for a public works project

• securitize by bundling RLF loans and selling them as a security

• partner with other, non-EDA RLFs to create a larger lending capital base

Please email your thoughts to EDA by clicking here.

We welcome your input. This email account is designed to receive messages only. Responses from EDA will not be generated.