EDA’s Public Works and Economic Adjustment Assistance (EAA) 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 and will create and retain jobs, increase private investment, advance innovation, enhance the manufacturing capacities of regions, provide workforce development opportunities, and grow ecosystems that attract foreign direct investment.
Through the PWEAA NOFO, EDA solicits applications from applicants in order to provide revolving loan fund projects under EDA’s Public Works program and EAA programs (which includes Assistance to Coal Communities).
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) authorizes the U.S. Department of Commerce Economic Development Administration (EDA) to make available $1.5 billion for economic development assistance programs to help communities “prevent, prepare for, and respond to coronavirus.” Awards are given until the funds are exhausted.
EDA can only make grants to state and local governmental entities, institutions of higher education, not for-profit entities, and federally recognized Tribes.
EDA will accept applications for grants to support a wide variety of assistance including:
- Planning and Technical Assistance
- Capitalization and Recapitalization of Revolving Loan Funds (RLFs), which provide access to capital for businesses
- Construction of infrastructure and other economic development projects
- Innovation grants