# Presentation: 696754

## WHAT YOU NEED
TO KNOW 
ABOUT YOUR
ECONOMIC
DEVELOPMENT
ADMINISTRATION

***TO KNOW ***
*ABOUT YOUR*
***ECONOMIC***
***DEVELOPMENT***
***ADMINISTRATION***

## MISSION STATEMENT:

To lead the federal economic
development agenda by promoting
innovation and competitiveness,
preparing American regions for growth
and success in the worldwide economy.

**To lead the federal economic**
**development agenda by promoting**
**innovation and competitiveness,**
**preparing American regions for growth**
**and success in the worldwide economy.**

## THREE THINGS YOU SHOULD 
KNOW ABOUT EDA

EDA supports the American economy.
EDA investments leverage approximately $37 in private sector investment for every EDA dollar – among the highest of all federal economic development programs.  
In FY 05, EDA investments helped attract or retain 123,666 American jobs.
EDA is committed to rural and urban areas alike.

EDA is effective and well managed.
EDA received the second highest OMB PART (Performance Assessment Rating Tool) score*
EDA investments generate new jobs at a cost of only $2400 per job.
EDA is a recipient of the Balanced Scorecard Hall of Fame Award.

The Administration supports EDA.
EDA’s budget request for FY 07 called for a $47 million program funding increase over FY 06.
President Bush has requested higher EDA budget levels than were appropriated for four of the last five years. 
The Administration sought and successfully achieved reauthorization of EDA in 2004.

* Among all federal agencies reviewed.

***KNOW ABOUT EDA***
**EDA supports the American economy.**
- EDA investments leverage approximately $37 in private sector investment for every EDA dollar – among the highest of all federal economic development programs.
- In FY 05, EDA investments helped attract or retain 123,666 American jobs.
- EDA is committed to rural and urban areas alike.
**EDA is effective and well managed.**
- EDA received the second highest OMB PART (Performance Assessment Rating Tool) score*****
- EDA investments generate new jobs at a cost of only $2400 per job.
- EDA is a recipient of the Balanced Scorecard Hall of Fame Award.
**The Administration supports EDA.**
- EDA’s budget request for FY 07 called for a $47 million program funding increase over FY 06.
- President Bush has requested higher EDA budget levels than were appropriated for four of the last five years.
- The Administration sought and successfully achieved reauthorization of EDA in 2004.
***** Among all federal agencies reviewed.

## EDA leadership is committed to the long-term success of the agency, and is taking positive steps today to ensure the agency’s future:

Strengthen EDA’s niche in the federal economic development portfolio by focusing on innovation, entrepreneurship and collaborative regional development approaches.

Work in partnership with Congress, including preparing EDA for reauthorization in 2008.

Maintain EDA’s superior investment results and strengthen the agency’s quantifiable performance measurements.

Communicate openly and clearly with internal and external stakeholders.

Reflect the President’s management agenda, policy priorities and funding requests.

- Strengthen EDA’s niche in the federal economic development portfolio by focusing on innovation, entrepreneurship and collaborative regional development approaches.
- Work in partnership with Congress, including preparing EDA for reauthorization in 2008.
- Maintain EDA’s superior investment results and strengthen the agency’s quantifiable performance measurements.
- Communicate openly and clearly with internal and external stakeholders.
- Reflect the President’s management agenda, policy priorities and funding requests.

*MANAGEMENT PRIORITIES *
*2006-2007*

## EDA FUNDING HISTORY

| Appropriation History 2001-2007: Programs
(in millions of dollars) |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| Year | Request | House | Senate | Appropriation | Difference |
| 2001 | 408 | 362 | 218 | 411 | 3 |
| 2002 | 335 | 335 | 341 | 335 |  |
| 2003 | 317 | 317 | 289 | 288 | (29) |
| 2004 | 331 | 288 | 357 | 285 | (46) |
| 2005 | 290 | 290 | 285 | 254 | (36) |
| 2006 (SACI) | 3,710 | 0 | 0 | 0 | (3,710) |
| 2006 (EDA) | 0 | 201 | 484 | 251 | 251 |
| 2007 | 297 | 231 | 251 |  |  |

## EDA FUNDING HISTORY

| Appropriation History 2001-2007: Expenses
(in millions of dollars) |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| Year | Request | House | Senate | Appropriation | Difference |
| 2001 | 29 | 26 | 32 | 28 | (1.3) |
| 2002 | 31 | 31 | 31 | 31 |  |
| 2003 | 33 | 31 | 31 | 31 | (2.1) |
| 2004 | 33 | 31 | 31 | 30 | (3.1) |
| 2005 | 31 | 31 | 30 | 30 | (0.5) |
| 2006 (SACI) | 0 | 0 | 0 | 0 |  |
| 2006 (EDA) | 27 | 27 | 31 | 30 | 3.1 |
| 2007 | 30 | 30 | 30 |  |  |

## INVESTMENT POLICY GUIDELINES

**Investment applications will be competitively evaluated on their ability to meet or exceed the following investment policy guidelines:**
**Be market-based and results driven.**
- An investment will capitalize on a region’s competitive strengths and will positively move a regional economic indicator measured on EDA’s Balanced Scorecard, such as: an increased number of higher-skill, higher-wage jobs; increased tax revenue; or increased private sector investment.
**Have strong organizational leadership.**
- An investment will have strong leadership, relevant project management experience, and a significant commitment of human resources talent to ensure a project’s successful execution.
**Advance productivity, innovation, and entrepreneurship.**
- An investment will embrace the principles of entrepreneurship, enhance regional clusters, and leverage and link technology innovators and local universities to the private sector to create the conditions for greater productivity, innovation, and job creation.
**Look beyond the immediate economic horizon, anticipate economic changes, and diversify the local regional economy.**
- An investment will be part of an overreaching, long term comprehensive economic development strategy that enhances a region’s success in achieving a rising standard of living by supporting existing industry clusters, developing emerging new clusters, or attracting new regional economic drivers.
**Demonstrate a high degree of commitment by exhibiting:**
- High levels of local government or non-profit matching funds and private sector leverage.
- Clear and unified leadership and support by local elected officials
- Strong cooperation between the business sector, relevant regional partners and local, state and federal governments.

## FUNDING PRIORITIES

**Funding priorities will be given to proposals that:**
** ****Support long-term, coordinated and collaborative regional economic development approaches:**
-  Establish comprehensive regional economic development strategies that identify promising opportunities for long-term   ...economic growth.
-  Exhibit demonstrable, committed multi-jurisdictional support from leaders across all sectors:
-  Generate quantifiable positive economic outcomes.
** ****Support innovation and competitiveness:**
-  Develop and enhance the functioning and competitiveness of leading and emerging industry clusters in an economic  .. region.
-  Advance technology transfer from research institutions to the commercial marketplace.
-  Bolster critical infrastructure (e.g., transportation, communications, specialized training) to prepare economic regions   .. to compete in the world-wide marketplace.
** ****Encourage entrepreneurship:**
-  Cultivate a favorable entrepreneurial environment consistent with regional strategies.
-  Enable economic regions to identify innovative opportunities among growth-oriented small and medium-sized  .  . . . . . . .enterprises.
-  Promote community and faith-based entrepreneurship programs aimed at improving economic performance in an ...economic region.
**Additional consideration will be given to investments proposals which:**
-  Respond to sudden and severe economic dislocations (e.g., major layoffs and/or plant closures, disasters).
-  Enable BRAC-impacted communities to transition from a military to civilian economy.
-  Advance the goals of linking historic preservation and economic development as outlined by Executive Order 13287, .. Preserve America.
-  Support the revitalization of brownfields.

-  Public (e.g., mayors, city councils, county executives, senior state leadership);
-  Institutional (e.g., institutions of higher learning);
-  Non-profit (e.g., chambers of commerce, development organizations); and
-  Private (e.g., leading regional businesses, significant regional industry associations).

## EDA Regional Offices

- 401 West Peachtree Street, NW
- Suite 1820
- Atlanta, GA 30308
- T: (404) 730-3002 – F: (404) 730-3025
- (AL, FL, GA, KY, MS, NC, SC, TN)
**Austin **** **
- 504 Lavaca Street
- Suite 1100
- Austin, TX 78701
- T: (512) 381-8144 – F: (512)-381-8177
- (AR, LA, NM, OK, TX)
**Chicago**
- 111 North Canal Street
- Suite 855
- Chicago, IL 60606
- T: (312) 353-7706 – F: (312) 353-8575
- (IL, IN, MI, MN, OH, WI)

**Denver**
- 1244 Speer Blvd.
- Suite 670
- Denver, CO 80204
- T: (303) 844-4715 – F: (303) 844-3968
- (CO, IA, KS, MO, MT, NE, ND, SD, UT, WY)
**Philadelphia**
- The Curtis Center
- 601 Walnut Street, Suite 140 South
- Philadelphia, PA 19106
- T: (215) 597-4603 – F: (215) 597-1063
- (CT, DE, DC, ME, MD, MA, NH, NJ, NY, PA, PR, RI, VT, VA, VI, WV)
**Seattle **
- 915 Second Avenue
- Suite 1890
- Seattle, WA 98174
- T: (206) 220-7660 – F: (206) 220-7669
- (AK, AZ, CA, HI, ID, NV, OR, WA, American Samoa, N. Mariana Islands, Guam, Fed. States of Micronesia, Rep. of Marshall Islands, Rep. of Palau)

**Sandy K. Baruah**
- Assistant Secretary for Economic Development
**U.S. Department of Commerc**e
- 14th Street & Constitution Ave., N.W.
- Washington, D.C. 20230
***www.eda.gov***
*EDA Regional Offices*