Search

After a nine-month hiatus, the Economic Development Administration has reopened its Public Works and Economic Adjustment Assistance programs with an updated Notice of Funding Opportunity.

In perhaps the most difficult budget season of the last 25 years, where the President’s budget has proposed eliminating funding for scores of programs, both the House and Senate subcommittees with budget oversight for the Economic Development Administration (EDA) have proposed continuation funding of $50 million for FY2026 for the popular Build 2 Scale (B2S) program—referred to as the Regional Innovation Program Grants in budget language.

President Biden signed legislation that reauthorized the Economic Development Administration (EDA) on Jan. 4. With the Heritage Foundation, among others, consistently calling for EDA’s elimination, EDA’s reauthorization is no small feat on its own. The strong bipartisan support for the bill, which included provisions related to water resources development, is perhaps even more remarkable.

The U.S. Economic Development Administration (EDA) could see its first reauthorization since 2004, depending on how the post-election congressional work period progresses. Leaders of the Senate committee that oversees the annual defense bill have agreed to include a proposal to reauthorize EDA’s public works and economic adjustment programs in their negotiations with the House as part of the national defense authorization bill.

SSTI recently hosted an informational session with EDA representatives about the 2024 Build to Scale program. The $50 million program is accepting applications until October 28. The recording and slides are now available here for those who missed it or want to review.

With the release of the Economic Development Administration’s (EDA) 2024 Notice of Funding Opportunity (NOFO) for its Build to Scale program, time has begun ticking towards the October 28 application deadline.

The Economic Development Administration has released the 2024 Notice of Funding Opportunity (NOFO) for its Build to Scale program. With $50 million in available funding, the program continues to support regional commercialization, entrepreneurship, and capital formation efforts. This year’s competition, however, comes with a restructured application process and updated evaluation criteria.

Key changes for 2024

The Distressed Area Recompete Pilot Program, a program authorized by the CHIPS and Science Act, targets areas where the share of prime-age (25-54 years) employment is significantly lower than the national average.

Following its announcement of implementation awards to 12 Tech Hubs regions, the U.S. Economic Development Administration made Consortium Accelerator Awards of $500,000 to each of the additional 19 Tech Hubs designated regions.

The U.S. Department of Commerce has announced a new $25 million Good Jobs Challenge Notice of Funding Opportunity for investment in high-quality, locally led workforce training programs that lead to good jobs.

The Economic Development Administration today announced $504 million in funding across 12 Tech Hubs, the culmination of a 14-month selection process to choose the first regions funded for implementation projects under the program. The 12 Hubs receiving implementation awards are listed in the graphic below.

SSTI has released a new video in our Federal Funding Video Library featuring Trent Thompson, economic development representative with the Economic Development Administration’s Denver Regional Office. In this interview, we discuss how EDA’s Economic Adjustment Assistance (EAA) funds can be leveraged to support technology-based economic development (TBED) activities.

This month, 65 Fellows will begin their two-and-a-half-year field placements with host organizations nationwide as part of the Economic Recovery Corps (ERC) funded by the Economic Development Administration. Fellows will spearhead projects that, according to according to an International Economic Development Council (IEDC) press release, "advance new ways of doing economic development to build more resilient, inclusive, and equitable economies." The 65 selected projects are located across 44 states and territories.

By a bipartisan vote on Tuesday, the U.S. Senate Committee on Environment and Public Works approved legislation that would reauthorize the Economic Development Administration for the first time since 2004.

More than five months into fiscal year 2024, Congress has approved an agreement covering six of the twelve annual appropriations bills. Many tech-based economic development (TBED) programs received funding equal to the FY 2023 base appropriation—a strong sign of support for a year in which Congress agreed to return to FY 2022 overall spending levels and many programs across the federal government, therefore, saw cuts.

Earlier today, the Economic Development Administration (EDA) announced the 2023 notice of funding opportunity (NOFO) for the Build to Scale program. State and local governments, nonprofits, higher education institutions, National Labs, and others can compete for $50 million to support new and expanded initiatives supporting regional commercialization, entrepreneurship, and capital formation efforts.

Two competitions comprise the FY 2023 Build to Scale program:

The U.S. Department of Commerce's Economic Development Administration (EDA) recently announced the 22 finalists of the Distressed Area Recompete Pilot Program (Recompete) and 24 Strategy Development Grants. Recompete, authorized through the CHIPS and Science Act, targets the hardest-hit and most economically distressed areas of the country, specifically ones where prime-age (25-54 years) employment is significantly lower than the national average.

SSTI has released a new data tool that defines investment activity, one indicator of the vibrancy of a region’s innovation economy, in each of 18 technology areas.

The U.S. Economic Development Administration’s (EDA’s) annual Build to Scale (B2S) program (previously Regional Innovation Strategies) completed its tenth award cycle this year, with over $270 million in grants across 437 awards since inception in Fiscal Year (FY) 2014. FY 2023 was the largest award cycle, totaling $53 million in federal awards across the Venture and Capital Challenges.

The Economic Development Administration (EDA) announced 60 organizations receiving $53 million from the Build to Scale program today. This is the program’s 10th and largest award cycle, following years of consistent appropriations growth from Congress.

Incorporating systems thinking into economic development planning could lead to better solutions to potential and pressing problems, says a Quarterly Research Brief from the National Economic Research and Resilience Center (NERRC). The paper emphasizes that systems, or integrated planning, is essential when writing a Comprehensive Economic Development Strategy (CEDS).