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Dec 07, 2020
Do you have infrastructure projects that will create jobs? Our Economic Development team can assist!
The Economic Development Administration
(EDA) is the only federal agency focused exclusively on economic development. They have invested billions of dollars in regional efforts to spur economic growth through infrastructure development, cheaper financing for small businesses, and projects to help guide regions towards growth.
One of their primary funding avenues is the Public Works and Economic Adjustment Assistance Programs (PWEAA). These programs provide economically distressed communities and regions with comprehensive and flexible resources to address a wide variety of economic needs. Projects funded by these programs will support work in Opportunity Zones. They will support the EDA mission, among other things, leading to the creation and retention of jobs and increased private investment, advancing innovation, enhancing the manufacturing capacities of regions, providing workforce development opportunities, and growing ecosystems that attract foreign direct investment.
The EDA will consider applications for the PWEAA Program if it is a project the will have some guaranteed job creation or private investment. The EDA prides itself in keeping their investment dollars per job created low, and their ratio of private investment to EDA investment high. What does that mean? The EDA averages $13,000 per job created, and $15 of private investment for every $1 of EDA investment.
If you have any infrastructure projects that will create jobs, our Economic Development team
can assist you by developing a project summary for our local EDA representative, Jason Wilson, to review. He provides valuable assistance and insight into if the project is of interest to the EDA and how to make the project more competitive. Moving forward, our team can assist members with walking you through applying with the EDA, so you know what information you need to gather and that it is presented most compellingly on your application.
Please contact us if you have an idea for a project. The EDA application for funding is one of the most straightforward applications for federal assistance that you will ever find. The worst that can happen is they say, “no thanks.” The best? You could receive up to $1.5 Million as a 50% match towards your infrastructure project.
Let us know what you are working on, and we will see where there may be a funding source that we can help you secure!
ETCOG is proud to host the Texas Department of Agriculture on November 30th to hold a TxCDBG Kickoff Meeting. Join us to hear about grant allocations planned for our region and an overview of proposed changes to the application process.
The East Texas Council of Governments wants to ensure that our region is well-educated on recognizing housing discrimination and how to avoid and report it if encountered. Your voice matters! Take our Housing Survey.
In today's rapidly changing economic landscape, it has become evident that institutions of higher education play a crucial role in fostering vibrant economic ecosystems. These universities possess a wealth of economic development assets that can propel regional growth and innovation. Recognizing this immense potential, the Economic Development Administration (EDA) has established the University Center program (PDF) to empower universities and consortia of institutions to establish and operate University Centers (UCs). The primary focus of these UCs is to harness the resources and capabilities of universities to build robust regional economic ecosystems that foster innovation, high-growth entrepreneurship, resiliency, and inclusiveness. Since as early as FY 1980, EDA-funded UCs have been actively responding to the needs of small- and medium-sized manufacturers and processors by providing crucial technology transfer and commercialization assistance. Today, these UCs continue to evolve and adapt to the changing needs of their regions. Some UCs are at the forefront of creating a digitally inclusive economy, offering valuable resources and guidance in this digital age. Others are addressing the economic impacts resulting from the closure of major plants by collaborating with stakeholders in their regions. The strength of University Centers lies in their collaborative approach. They work hand-in-hand with other EDA partners, such as Economic Development Districts (EDDs), to combine their expertise, applied research, and technical assistance. This collaboration is aimed at developing, implementing, and supporting regional strategies that lead to tangible outcomes like job creation, the cultivation of high-skilled regional talent pools, and business expansion within innovation clusters. University Centers focus on several key areas, each crucial for the growth and resilience of a region. One such area is regional commercialization efforts. By leveraging university assets and expertise, UCs help bridge the gap between innovative research and commercial viability. They facilitate the transfer of cutting-edge technologies and intellectual property into the market, propelling the growth of local businesses and industries. If you are a university or part of a consortium of institutions passionate about driving regional economic growth, innovation, and resiliency, the EDA's University Center program presents an incredible opportunity. Joining this program will enable you to leverage the vast resources, expertise, and collaborative network of UCs to make a lasting impact on your region. To learn more about applying for the University Centers funding opportunity, please visit https://bit.ly/3ot5EQn .
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the involvement of the public, private and non-profit sectors to establish a strategic blueprint for regional collaboration.
