Economic Development Administration

Economic Development Administration (EDA), agency of the U.S. Department of Commerce, established in 1965. The agency provides financial and technical assistance to aid the economic development of areas of the U.S. with high unemployment or low family-income levels. It assists county and state officials in implementing strategies to halt or reverse long-term economic deterioration. Communities must make long-range plans for economic growth in order to be eligible for EDA financial assistance, in the form of grants and loans for public works and industrial and commercial projects that help generate various kinds of employment opportunities. Typical projects include the construction of access roads, water and sewer lines, and public facilities.

The agency provides monetary grants and technical assistance to help find causes of and solutions to problems that block economic growth. The program includes feasibility studies and management counseling for new industrial firms and small businesses operating in redevelopment areas. EDA has regional offices in the states of Pennsylvania, Georgia, Illinois, Colorado, Texas, and Washington.