United States Department of Commerce
Economic Development Administration

Created by Congress pursuant to the Public Works and Economic Development Act of 1965, as amended by the Economic Development Administration Reform Act of 1998, the Economic Development Administration (EDA) provides grant for infrastructure development, local capacity building, and business development to help communities alleviate conditions of substantial and persistent unemployment and underemployment in economically distressed areas and regions.

Since 1965, EDA has invested more that $16 billion in grants across all programs, including public works and special initiatives such as responding to natural disaster and defense conversion, and has generated more than $36 billion in private investment. EDA’s public works investments generate $10.08 million in private sector investment and $10.13 million in local tax base for ever $1 million of EDA funds.

Through a national network of economic development professionals, EDA works with local, county, and sate officials, business leaders, economic development districts and non-profit organizations to identify and fund high priority projects in the neediest communities.

Public Works: EDA investments fund locally-developed public works infrastructure projects to allow communities to establish and support private sector businesses. EDA public works investments have assisted in creating more that 1.5 million jobs since 1965.

Planning: EDA supports 320 Economic Development Districts (EDD), including Souris Basin Planning Council, and 65 Indian Tribes, including Three Affiliated Tribes, New Town, staffed and operated locally to help communities build capacity to focus on long-term economic challenges. EDD organizations are often coordinating entities for various Federal and state programs.

Revolving Loan Funds: Revolving loan funds (RLF) enhance the local capacity to invest in community identified commercial development that creates jobs. Since 1976, when the RLF program was implemented, EDA has provided initial capital for over 580 local RLF’s, including Souris Basin Planning Council’s. These locally administered funds have made more than 7,000 loans to private businesses and have leveraged more than $1.9 billion in private capital. Upon repayment, principal and interest stay in the community for re-lending and further economic development.

For further information regarding the Economic Development Administration please contact Souris Basin Planning Council or visit the EDA website: www.doc.gov/eda.