EDA Reauthorization Clears Congress

Senate Bill 1134, the reauthorization bill for the federal Economic Development Administration (EDA), only awaits the President's signature following Thursday's passage by the U.S. House of Representatives. SB 1134 was passed by the U.S. Senate just a day earlier.

Highlights of the Economic Development Reauthorization Act of 2003, as passed by Congress, include:

• Provides the Secretary of Commerce with new authority to reward outstanding performance by grant recipients who excel in carrying out job-creating projects;
• Supports regional collaboration for developing ways communities can position themselves to compete in a worldwide economy, emphasizing strategies for manufacturing-intensive communities and for deploying broadband technology. And,
• Attempts to simplify and streamline government procedures by reducing paperwork for grant recipients and removing barriers for nonprofit and faith-based organizations to participate in economic development activities.

EDA’s prior reauthorization was passed in 1998 and expired on Sept. 30, 2003. Since its inception in 1965, the agency has worked closely with Congress, the private sector, economic development organizations, and state and local governments to help create jobs across the U.S. Next year marks the EDA's 40th anniversary.

The full text of SB 1134 is available through Thomas Locator at http://thomas.loc.gov/.