Economic Development Administration Reauthorization Act Signed by
President Bush

WASHINGTON, D.C. – President Bush yesterday signed Senate Bill S.1134, the Economic Development Administration Reauthorization Act of 2004, into law.

“This is a great day for EDA, the Commerce Department and the American people,” said Commerce Secretary Donald L. Evans. “EDA’s reauthorization adds fuel to the economic and job creation engines in our rural and urban areas. I am proud of EDA, its professional staff and the substantial work they have performed to strengthen our economy.”

The reauthorization legislation contains valuable enhancements, critical to EDA’s continued success, and will provide EDA and its valued partners across the nation with the economic development tools necessary to achieve President Bush’s goal to leave no demographic or geographic area behind in the pursuit of more fully participating in the American Dream.

“The Economic Development Administration (EDA) is proud of the broad-based, bipartisan support for this important legislation that led to its swift Congressional passage,” said Assistant Secretary for Economic Development David A. Sampson. “This news opens a new and exciting chapter for EDA and its mission to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in a worldwide economy.”

EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA's mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.

Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov