Washington—The U.S. Department of Commerce’s Economic Development Administration (EDA) marks a significant milestone with its reauthorization by Congress, enabling the continuation of its initiatives aimed at fostering American innovation and competitive growth. Since its inception in 1965, the EDA has spearheaded various influential programs focused on infrastructure enhancement, job creation, workforce development, disaster recovery, and technological advancement. The EDA’s last formal reauthorization occurred in 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,” stated 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.”
Between January 2021 and November 2024, the EDA directed nearly $6 billion in investments across 3,393 awards nationwide. These efforts have led to the creation or retention of over 554,700 jobs and have generated over $67.7 billion in private investment. Such investments include numerous construction projects that provide well-paying jobs, modernizing infrastructure, and supporting lasting economic growth.
“The country has changed since EDA was last authorized, with new industries, new challenges, and the residual impacts of a global pandemic and the rising intensity of natural disasters. Over the last 20 years, EDA has evolved to ensure its programs make America’s communities more competitive, resilient, and secure. This reauthorization legislation will allow EDA to continue to meet the moment for generations to come,” remarked Acting Assistant Secretary for Economic Development Cristina Killingsworth.
Key Benefits of the EDA’s Reauthorization
Strengthening Tools for Job Creation and Placement
- Codifies EDA’s role in establishing industry-led workforce training partnerships to innovate workforce development.
- Aligns EDA with other Department of Commerce priorities, such as:
- Supply Chain and Manufacturing: Including aspects of The ONSHORE Act for site development in sectors with national security implications.
- Broadband: Modernizes EDA’s ability to implement broadband projects through the E-BRIDGE Act.
Modernizing Grant and Resource Delivery Authorities
- Creates the Office of Disaster Recovery and Resilience: Collaborates with Economic Development Districts (EDDs), University Centers, and stakeholders for regional disaster recovery.
- Updates eligibility criteria to consider additional statistical factors in grantmaking.
Enhancing Operational Efficiency and Transparency
- Defines pre-development to aid distressed communities in preparing for major infrastructure investments.
- Permanently allows EDA’s disaster hiring authority for rapid disaster response.
- Formalizes the relationship between EDA and Regional Commissions to enhance regional program effectiveness.
The reauthorization of EDA forms a crucial part of the Thomas R. Carper Water Resources Development Act of 2024, passed with bipartisan Congressional support.
“EDA is driving our nation’s job growth, building resilient supply chains, and investing in our local economies. Reauthorizing the EDA will give this critical agency the tools and resources it needs to better support local businesses and organizations and equip our communities with climate-resilient infrastructure, in turn strengthening both local and regional job creation and our competitiveness abroad,” commented EPW Chairman Senator Tom Carper.
“This reauthorization will help the EDA carry out its mission to drive investment, create jobs, and grow our local economies, particularly in rural states like mine of West Virginia. I appreciate Chairman Carper, Senator Cramer, and Senator Kelly for joining in this effort to reauthorize the EDA,” stated EPW Ranking Member Senator Shelley Moore Capito.
“I am proud to have helped negotiate this package to reauthorize the Economic Development Administration and recognize the importance of tourism and outdoor recreation for economic development…” expressed Representative Dina Titus, Ranking Member of the House Subcommittee on Economic Development, Public Buildings, and Emergency Management.
“This measure also includes important provisions to reauthorize and modernize federal economic development programs…. I want to thank Ranking Member Rick Larsen, Subcommittee Chairman David Rouzer, Subcommittee Ranking Member Grace Napolitano, as well as Chairman Carper and Ranking Member Capito in the Senate, for their hard work in developing and negotiating this final measure,” noted Transportation and Infrastructure Committee Chairman Sam Graves.
“…I applaud today’s passage of the Water Resources Development of 2024… “This legislation also includes provisions to grow the economy and create jobs by reauthorizing the Economic Development Administration…T&I Democrats remain focused on delivering good-paying jobs and safer, cleaner, greener and more accessible transportation for all Americans,” stated Representative Rick Larsen, Ranking Member of the House Committee on Transportation and Infrastructure.
