By Gene Lowe
August 2, 2010

For 45 years, the U.S. Economic Development Administration (EDA) has partnered with distressed communities throughout the United States to foster job creation, collaboration and regional innovation. The agency’s mission is to lead the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy.

Just as economic development practitioners must adapt to changes in the economic environment, so must the federal government’s only agency solely devoted to economic development. The challenges posed by a severe global recession and immense economic, social and environmental changes require the agency to improve the way it does business to continue to meet the needs of American communities.

Specifically, EDA is improving its grant approval process so that it is more competitive, transparent and efficient:

• Applicants will receive an answer in less than 90 days.

• Set funding cycles and standardized assessment tools will make the process more competitive.

• EDA’s strong level of customer service will be unchanged. Regional office staff will work closely with applicants prior to submission deadlines.

For more information or to send comments to EDA, go to the website http://www.eda.gov/InvestmentsGrants/Grant%20Process.xml.