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!
3800 Stone Road
Kilgore, Texas 75662
903-218-6400
Equal Opportunity Employer/Program
Auxiliary aids and services are available upon request to individuals with disabilities. Deaf, hard-of-hearing or speech-impaired customers may contact Relay Texas: 800-735-2989 (TTY) and 711 (Voice). Equal opportunity is the law. Equal opportunity notice in English and Spanish