WASHINGTON, DC – Today, Congressman Mike Michaud sent a letter signed by 40 of his colleagues to President Obama urging him to make the funding of the Economic Development Administration (EDA) a priority in his budget. Michaud has long championed the EDA, which is the only federal agency focused exclusively on economic development, given its impact on local economies in Maine and throughout the country.

“The EDA awards provide a tremendous return on taxpayer investment,” wrote Michaud and his colleagues. “With well over four million private sector jobs created and roughly $150 billion in private sector investment leveraged since its inception, the EDA has amassed an impressive record of assisting communities struggling to overcome both long-term economic challenges and sudden economic hardships.”

The full text of the letter can be found below:

February 5, 2013

President Barack Obama
The White House
Washington, D.C. 20500

Dear President Obama:

As the Administration prepares its Fiscal Year 2014 budget submission to Congress, we urge you to include funding for the Economic Development Administration (EDA) at the Fiscal Year 2012 appropriated level of $257.5 million.  

The EDA makes investments in economically distressed communities, responding to plant closings, base closures, natural disasters, other economic emergencies, and long-term economic problems. It is the only federal agency focused exclusively on economic development.  The EDA awards grants through a transparent, competitive, merit-based process that does not consider political influence.  These investments help provide communities with the assets they need to compete in a global economy.

In addition, the EDA awards provide a tremendous return on taxpayer investment.  With well over four million private sector jobs created and roughly $150 billion in private sector investment leveraged since its inception, the EDA has amassed an impressive record of assisting communities struggling to overcome both long-term economic challenges and sudden economic hardships.   

As our nation emerges from its long economic downturn, the program will continue to play a critical role in promoting development and job creation.   Including $257.5 million for the EDA in the Administration’s FY14 budget will ensure the program is able to provide the critical investments and spur growth in the communities that need it most.  

I look forward to working with you to ensure that the EDA has the funding it needs to help our nation’s economy rebuild.   

Sincerely,

MIKE MICHAUD
ROSA L. DELAURO
MADELEINE Z. BORDALLO
FILEMON VELA
DAVID N. CICILLINE
JOHN CONYERS, JR.
ELEANOR HOLMES NORTON
CHARLES B. RANGEL
JOHN D. DINGELL    
SANDER M. LEVIN
RUBÉN HINOJOSA    
RICK LARSEN
GWEN MOORE
MARCY KAPTUR
NICK J. RAHALL, II    
G. K. BUTTERFIELD
JAMES R. LANGEVIN
STEVE COHEN
CORRINE BROWN    
ALCEE L. HASTINGS
COLLIN C. PETERSON
JAMES P. MCGOVERN
RAÚL M. GRIJALVA
LOUISE M. SLAUGHTER
DAVID LOEBSACK    
MIKE MCINTYRE
MATT CARTWRIGHT
NIKI TSONGAS
GREGORIO SABLAN
JUDY CHU
RICHARD M. NOLAN
DORIS O. MATSUI
WILLIAM L. ENYART
ALAN GRAYSON
GRACE MENG
DONALD M. PAYNE, JR.
MICHAEL M. HONDA
CAROL SHEA-PORTER
CHELLIE PINGREE
MARCIA L. FUDGE
KEITH ELLISON