2004 Adopted Resolutions
72nd Annual Meeting
Boston

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SUPPORT FOR THE ECONOMIC DEVELOPMENT ADMINISTRATION (EDA)

WHEREAS, the Economic Development Administration (EDA) provides grants 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; and

WHEREAS, since 1965, EDA has invested more than $16 billion in grants across all programs, including local public works and special initiatives such as responding to natural disasters and defense conversion, and has generated more than $36 billion in private investment; and

WHEREAS, EDA’s public works investments generate $10.08 million private sector investment and $10.13 million in local tax base for every $1.0 million of EDA funds; and

WHEREAS, EDA provides the capacity at the local level that allows distressed areas to develop their own locally-based comprehensive economic development strategies; and

WHEREAS, EDA supports local programs that target assistance to specific economic development needs in distressed communities; and

WHEREAS, EDA helps finance long-term investments needed to diversity local economics and create jobs,

NOW THEREFORE BE IT RESOLVED, the U.S. Conference of Mayors strongly supports the reauthorization of the Economic Development Administration;

BE IT ALSO RESOLVED, that the Conference of Mayors also supports full funding for the Economic Development Administration.