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Foreign Direct Investment (FDI) plays an important role in regional economies across the country. The United States is home to the largest amount of FDI in the world and EDA’s grant investment portfolio framework ensures that economic development planning and implementation projects enhance or build community assets to support growth in U.S. exports and increased foreign direct investment.
Since the beginning of the Biden Administration, EDA has invested $233 million in 98 projects that promote and support FDI. [Read More]
Alejandra Y. Castillo
Assistant Secretary of Commerce
for Economic Development
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TECH HUBS
Preparing for Tech Hubs
EDA published an expanded fact sheet for the Tech Hubs program. Designed to help those interested in applying for the upcoming funding opportunity, the fact sheet outlines applicant eligibility requirements, timelines, and other program details. [Read More]
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New Funding Opportunities
EDA has recently published two new funding opportunities. Many areas across the country are eligible for the FY23 Disaster Supplemental Funding, which will support regions impacted by Hurricanes Ian and Fiona, wildfires, flooding, and other Presidentially declared major natural disasters. [Read More]
Additionally, applications are now being accepted for the FY23 STEM Talent Challenge. The funding opportunity makes $4.5 million available to eligible entities to create and implement STEM talent development strategies to complement their region’s innovation economy. [Read More]
CEDS Update
EDA has updated its Comprehensive Economic Development Strategy (CEDS) content guidelines, recommending four new or updated topics for inclusion in future CEDS. A CEDS is a strategy-driven plan for regional economic development, helping community leaders establish a strategic blueprint for regional collaboration. [Read More]
Celebrating Earth Day
Economic development and environmental conservation are becoming increasingly intertwined, as communities look for new ways to be more environmentally and economically resilient. EDA’ investment priorities places sustainable development at the forefront of the bureau’s equity-focused grantmaking agenda. [Read More]
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MONTANA
Supporting Rural and Indigenous Entrepreneurs
Despite its small population, Montana is becoming a big place for businesses and startups. However, much of the business and population concentration is in the state’s urban areas, creating a unique set of challenges and opportunities for businesses elsewhere in the state. The EDA University Center at the University of Montana is filling the gap, specifically for rural and Indigenous communities. [Read More]
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NORTH CAROLINA
Preparing for Disasters
North Carolina is no stranger to natural disasters. In recent years, the Tar Heel State has hosted some of the most destructive hurricanes in American history, costing billions of dollars in damages. A new state office of resiliency and recovery is helping communities rebound, adapt, and thrive in response to natural disasters and is supported by an EDA investment. [Read more]
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WEST VIRGINIA
Boosting Regional Growth
The Appalachian Climate Technologies Coalition (ACT Now Coalition) is a prime example of how regional collaboration and locally driven economic development efforts are key components of sustainable, regional economic growth. Selected as one of twenty-one Phase 2 finalists for the American Rescue Plan’s Build Back Better Regional Challenge (BBBRC), the ACT Now Coalition is dramatically expanding on more than a decade of momentum. [Read more]
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In April, Assistant Secretary Castillo spoke to state and local leaders at the White House about the Department of Commerce and EDA’s role leading the nation’s economic development agenda. The discussion included successes of the American Rescue Plan and the great work ahead at EDA. Watch the Video
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