|
In this issue...
- New Jobs Figures – 75,000 Jobs Created in May
- EDA Announces Winners of 2006 Excellence in Economic Development Awards
- Briefing for Business: Opportunities for Gulf Coast Investment
- Next Economic Development Today Telecast: “North Dakota’s Strategy for Growth in the 21st Century: A Rural Economy in Transition”
- “Global Gateways” to Be Featured in the Next Edition of Economic Development America
- EDA’s Regional Development Account: Good News for Rural America
- Updated Award Application Forms Available from EDA
- Council on Competitiveness’ Measuring Regional Innovation: A Guidebook for Conducting Regional Innovation Assessments
- New EDA Brochure Now Available
How to subscribe: To subscribe yourself or a colleague to EDA Update, send an email with contact information, including email address, to Jason Christian at jchristian@iedconline.org.
New Jobs Figures – 75,000 Jobs Created in May
On June 2, 2006, the government released new jobs figures – 75,000 jobs created in May. The economy has created about 1.9 million jobs over the past 12 months – and more than 5.3 million since August 2003.
- Revised report shows fastest real GDP growth in two-and-a-half years. Real GDP grew at an annual rate of 5.3 percent for the first quarter of this year. This follows our economic growth of 3.5 percent in 2005 – the fastest rate of any major industrialized nation.
- Productivity increased at a strong annual rate of 3.7 percent in the first quarter.
- Real hourly compensation rose at a 3.2 percent annual rate in the first quarter.
- Personal income increased at an annual rate of 6.7 percent in April. Since January 2001, real after-tax income has risen by 12.9 percent, or 7.3 percent per person.
- Real consumer spending increased at an annual rate of 5.2 percent in the first quarter.
- Employment increased in 47 states over the past 12 months ending in April. Nonfarm payroll employment increased in 41 states in April.
- Industrial production increased 4.7 percent over the past 12 months. Over the past 12 months, manufacturing production has increased by 5.5 percent.
EDA Announces Winners of 2006 Excellence in Economic Development Awards
On May 31, 2006, Sandy K. Baruah, Assistant Secretary of Commerce for Economic Development, announced the winners of the EDA Excellence in Economic Development Awards 2006.
In the category of Urban or Suburban Economic Development the nominations are evaluated to determine how effectively they utilize innovative, market-based strategies to improve urban or suburban economic development. The winner is:
Tinley Park Economic Development
Tinley Park, Illinois
In the category of Rural Economic Development the nominations are evaluated to determine how effectively they utilize innovative, market-based strategies to improve rural economic development results. The winner is:
Yuba-Sutter Economic Development Corporation
Yuba City, California
In the category of Enhancing Regional Competitiveness the nominations are evaluated to determine how effectively they enhance regional competitiveness and support long-term development of the regional economy. The winner is:
Catalyst Connection
Pittsburgh, Pennsylvania
In the category of Economic Adjustment Strategies the nominations are evaluated to determine how effectively they help communities plan and implement economic adjustment strategies in response to sudden and severe economic dislocations. The winner is:
The City of Pueblo, Colorado
Pueblo, Colorado
In the category of Technology-led Economic Development the nominations are evaluated to determine how effectively they support technology-led economic development and reflect the important role of linking universities and industries and technology transfers. The winner is:
North Dakota State University Research and Technology Park, Inc.
Fargo, North Dakota
In the category of Community and Faith-Based Social Entrepreneurship the nominations are evaluated to determine how effectively they advance community and faith-based social entrepreneurship in redevelopment strategies for areas of chronic economic distress. The winner is:
Saint Patrick Center
St. Louis, Missouri
In the category of Innovation the nominations are evaluated to determine how effectively they incorporate innovative strategies for maximum results. The winner is:
ConnectKentucky
Specific Program: Prescription for Innovation
Bowling Green, Kentucky
Briefing for Business: Opportunities for Gulf Coast Investment
The Department of Commerce and the Federal Office of Gulf Coast Reconstruction are pleased to host a Briefing for Business on Investment Opportunities in the Gulf Coast on June 27, 2006, from 10:00 AM to noon at the U.S. Department of Commerce in Washington, D.C. This meeting will apprise business leaders of the opportunities and the incentives for investment in the Gulf Coast region, including federal GO Zone legislation and New Markets Tax Credits.
This briefing will feature Secretary of Commerce Carlos M. Gutierrez, Chairman Donald E. Powell, Federal Coordinator for Gulf Coast Rebuilding, senior officials from the U.S. Department of Treasury and representatives from Louisiana and Mississippi. The speakers will discuss the economic and business landscape in the Gulf States, including the significant federal and state incentives for investment in the region following hurricanes Katrina and Rita.
Please join us to learn more about the opportunities and progress that have been made in the Gulf Coast region during the previous year. Following formal presentations, participants will have the opportunity to ask questions of leading federal and state officials involved in Gulf Coast reconstruction.
Additional information can be found at www.GulfCoastOpportunity.gov. Registrations must be received by Friday, June 23, 2006.
Next Economic Development Today Telecast: “North Dakota’s Strategy for Growth in the 21st Century: A Rural Economy in Transition”
The next Economic Development Today Telecast will take place on July 20, 2006, from 3:00 P.M. - 4:00 P.M. EST. The program will feature an interview with North Dakota Governor John Hoeven and leaders from the private and public sectors, including North Dakota State University Research and Technology Park, Inc. in Fargo (2006 winner of EDA’s Excellence in Economic Development Award in the category of Technology-led Economic Development).
“Global Gateways” to Be Featured in the Next Edition of Economic Development America
Expect the Spring 2006 edition of Economic Development America magazine to appear in your mailbox soon. Featured articles focus on trade, infrastructure and border issues. The Summer edition of Economic Development America, to be published in August, will feature profiles of the EDA Excellence in Economic Development 2006 Awards winners.
Story ideas are welcomed for future editions of the magazine. For more information, contact editor Louise Anderson at landerson@iedconline.org. Past issues of Economic Development America magazine are available at www.eda.gov/NewsEvents/Edevinfocoalition.xml.
EDA’s Regional Development Account: Good News for Rural America
The President’s 2007 EDA Budget creates the Regional Development Account, which will bolster EDA’s focus on regional approaches. This will better ensure that small jurisdictions and rural areas have a “seat at the table” within the larger economic development framework.
President Bush believes that rural communities can compete successfully in a worldwide economy through successful engagement in regional competitiveness strategies, and he is committed to helping to create an environment that fosters this transition.
Click here for more information: EDA’s RDA: Good News for Rural America (PDF).
Updated Award Application Forms Available from EDA
EDA is pleased to announce that EDA’s updated Pre-Application, Application and Post-Award Requirements forms and information are now consistent with EDA’s new regulations and are available on the EDA Website at www.eda.gov/InvestmentsGrants/Investments.xml.
Council on Competitiveness’ Measuring Regional Innovation: A Guidebook for Conducting Regional Innovation Assessments
This guidebook has been developed to help regional leaders inventory and assess their regional innovation environment, and is the culmination of the 2003 - 2005 Regional Competitiveness Initiative. The guidebook is designed to be an easy-to-use tool for economic and workforce development practitioners.
» Download Regional Innovation Guide (PDF)
New EDA Brochure Now Available
A new EDA brochure (PDF) is now available that outlines the EDA Mission, Investment Policy Guidelines, Funding Priorities, Investment Programs and Regional Office contacts.
EDA Update is brought to you as a benefit of a partnership among the Economic Development Administration (EDA), the International Economic Development Council (IEDC) and the National Association of Regional Councils (NARC), to provide information about economic development practices and programs to economic development practitioners who serve distressed communities throughout the United States. This partnership also provides six telecasts and a quarterly magazine. For more information, visit the EDA Web site.
|
|
|
