U.S. Economic Development Administration Reauthorized by Congress for First Time in 20 Years
December 19, 2024
Contact: EDA Public Affairs Department, edamedia@eda.gov
Washington—The U.S. Department of Commerce’s Economic Development Administration (EDA) celebrates its historic reauthorization by Congress, allowing it to continue its legacy of promoting American innovation and competitiveness by providing grants and support to communities across the country. Since 1965, EDA has led some of the nation’s most impactful programs to strengthen public works and infrastructure, job creation and workforce development, disaster recovery, and technology and industry advancement. EDA has not been formally reauthorized since 2004.
“Reauthorization will allow EDA to continue meeting its mission of ensuring communities across the country have the resources they need to expand economic opportunity, invest in innovation, and recover from disasters. This bipartisan support from Congress will allow EDA to evolve, modernize, and provide the services that communities across the nation need to build resilient, thriving local economies,” said U.S. Secretary of Commerce Gina Raimondo. “EDA’s investments have helped countless communities invest in their local workers and businesses, and reauthorization means they will continue creating and saving jobs, and bringing new investment to every corner of our country.”
From the period of January 2021 through November 2024, EDA was responsible for directing nearly $6 billion in investments in 3,393 awards across nearly every state and federal territory. These projects are creating or saving more than 554,700 jobs and generating more than $67.7 billion in private investment. These investments include hundreds of construction projects, creating thousands of good-paying jobs that modernize American infrastructure and support long-term, resilient economic growth.