The Hill News

As the U.S. Senate continues to debate the reauthorization of the Economic Development Administration (EDA), critics are taking to the newspapers and airways to urge defeat of the legislation. It is disheartening to see that the agency I helped create more than 45 years ago which has had constant bipartisan support is now under unwarranted partisan attack in an economic environment when the kinds of jobs this agency helps create are needed more than ever.  It’s particularly troubling when only three years ago the Senate passed EDA’s reauthorization unanimously.

The fact is that EDA is the only federal agency with the exclusive mission of creating and retaining American jobs by leveraging private investment in the nation’s economically distressed communities and every dollar that the agency invests leverages another $6.90 in private/public investment to create the economic environment for small business to grow and prosper.

What might be even more! intriguing to those who are unaware of EDA’s effectiveness is that its investments are awarded on a merit-based competitive basis and built on the regional economic development strategies of local officials, private sector leaders and community representatives. This bottom-up approach has allowed EDA to be a strong partner with communities all over the country who are trying to renew their local economies. 

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