EDA Deadline Reminder, June 30

Note: This program is especially applicable if you are seeking infrastructure funding related to economic development or job creation (industrial parks, etc).

The Economic Development Administration (EDA) is soliciting applications for the EDA American Recovery Program under the auspices of PWEDA. Specifically, the FFO pertains to applications for funding under EDA’s Public Works and Economic Adjustment Assistance programs only. Under this FFO, EDA will give priority consideration to those applications that will significantly benefit regions “that have experienced sudden and severe economic dislocation and job loss due to corporate restructuring,” as stipulated under the Recovery Act. EDA provides financial assistance to distressed communities in both urban and rural regions. Such distress may exist in a variety of forms, including high levels of unemployment, low income levels, large concentrations of low-income families, significant declines in per capita income, large numbers (or high rates) of business failures, sudden major layoffs or plant closures, trade impacts, military base closures, natural or other major disasters, depletion of natural resources, reduced tax bases, or substantial loss of population because of the lack of employment opportunities.

EDA’s experience has shown that regional economic development to help alleviate these conditions is effected primarily through investments and decisions made by the private sector. Under the EDA American Recovery Program, EDA will help restore, replace and expand economic activity in regions that have experienced sudden and severe economic dislocation and job loss due to corporate restructuring, and prioritize projects that will diversify the economic base and lead to a stronger, more globally competitive and resilient regional economy. EDA’s economic development activities help create jobs by encouraging business inception and growth.

Deadline: Jun 30, 2010
Funds are available for obligation until September 30, 2010; however, it takes a minimum of 90 days from EDA’s receipt of a complete application until award, when funds are obligated.

Cost Sharing or Matching Requirement: Yes
Grants are generally 50%, however, exceptionally distressed areas may apply for up to 30% more. In-kind contributions are acceptable towards match.

Eligible Applicants:
State governments
County governments
City or township governments
Special district governments
Public and State controlled institutions of higher education
Native American tribal governments (Federally recognized)
Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
Private institutions of higher education
Others (see text field entitled “Additional Information on Eligibility” for clarification)

Additional Information on Eligibility:

PLEASE NOTE: For-profit, private-sector entities and individuals do not qualify for investment assistance under the Public Works or Economic Adjustment Assistance programs, which are the applicable programs under this announcement. Pursuant to the Public Works and Economic Development Act of 1965, as amended (42 U.S.C. § 3121 et seq.)(PWEDA), eligible applicants for and eligible recipients of EDA investment assistance include a(n): (i) District Organization; (ii) Indian Tribe or a consortium of Indian Tribes; (iii) State, a city or other political subdivision of a State, including a special purpose unit of a State or local government engaged in economic or infrastructure development activities, or a consortium of political subdivisions; (iv) institution of higher education or a consortium of institutions of higher education; or (v) public or private non-profit organization or association acting in cooperation with officials of a political subdivision of a State. See section 3 of PWEDA (42 U.S.C. § 3122) and 13 C.F.R. § 300.3. Projects eligible for Public Works or Economic Adjustment investment assistance include those projects located in regions meeting “Special Need” criteria (as defined in 13 C.F.R. § 300.3), as set forth in section VII. of this announcement.

Contact us for more information!

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EDA Deadline Reminder, June 30

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