eda

The EDA University Center Economic Development Program Competition recently announced $2.5 million in grants awarded to 25 colleges and universities in the Chicago and Philadelphia EDA regions to leverage assets, promote innovation and strengthen regional economies. The goal of these awards is “to boost innovation, create good-paying jobs and ensure American competitiveness in the global economy” while funding research as well as innovation economy development services.

The U.S. Department of Commerce is seeking applicants for the National Advisory Council on Innovation and Entrepreneurship (NACIE). NACIE advises the U.S.

The U.S. Economic Development Administration (EDA) has launched the FY 2021 $2 million STEM Talent Challenge to support programs to train science, technology, engineering, and math (STEM) talent and fuel regional innovation economies across the nation.

Today, the Economic Development Administration (EDA) announced funding opportunities for the $3 billion Congress provided the agency in the American Rescue Plan Act. Funds are available through six distinct challenges, with separate goals and application processes/deadlines for each.

The House Committee on Appropriations advanced an FY 2022 funding bill that provides for substantial increases to many science and innovation programs.

This week, the Senate passed the U.S. Innovation and Competition Act, a legislative package that includes the Endless Frontier Act. The tech-based economic development community should be excited about many initiatives authorized in the bill, including $10 billion for regional technology hubs, $100 billion in new R&D-related activities, and an expansion of the Manufacturing Extension Partnership program.

President Joe Biden has nominated Alejandra Y. Castillo to serve as the next assistant secretary for economic development in the U.S. Department of Commerce. If confirmed, she will have a unique opportunity to leave a significant imprint on regional efforts toward growing prosperity as a result of the $3 billion appropriated to the Economic Development Administration in March through the America Rescue Plan Act. 

As the new administration settles in, the Economic Development Administration (EDA) has updated its investment priorities — the guiding principles behind all of its competitive grants. Changes to the priorities are outlined below so that participants in local innovation economies are better able to align their proposed programs to these federal priorities.

A total of $29 million in grants will be awarded to 44 organizations across the country as part of the Scaling Pandemic Resilience through Innovation and Technology (SPRINT) Challenge provided by the Economic Development Administration. The SPRINT Challenge, with grants ranging from between $200,000 to $750,000, was developed last year with the goal of addressing the health and economic risks brought on by the COVID-19 pandemic through investments in entrepreneurship and innovation.

The American Rescue Plan Act, a $1.9 trillion spending package to address the ongoing health and economic impacts of COVID-19, was signed into law today. The legislation includes several initiatives that could strengthen regional innovation economies. Most notable among these is the $10 billion State Small Business Credit Initiative (SSBCI), $3 billion for the Economic Development Administration (EDA), and $350 billion for state and local government relief.

SSBCI Reauthorization