[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR300.1]

[Page 479]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 300--GENERAL INFORMATION--Table of Contents
 
Sec. 300.1  Introduction and purpose.

    (a) Introduction. Is your community suffering from severe economic 
distress (e.g., high unemployment, low income, sudden economic changes, 
etc.)? Are you a representative of a State or local unit of government, 
Indian tribe, public or private nonprofit organization, educational 
institution, or community development corporation looking for grant 
assistance to enhance your opportunities for economic development? If 
so, these regulations of the Economic Development Administration (EDA) 
of the U.S. Department of Commerce may be of help. These regulations 
tell you the purpose of EDA and outline the program requirements, 
project selection process, project evaluation criteria, and other 
relevant matters. The information in these regulations covers grant 
programs of EDA that provide financial awards for the following:

     Public Works and Development Facilities;
     Planning;
     Research, Evaluation, Training and Technical Assistance;
     Trade Adjustment Assistance; and
     Economic Adjustment Assistance.

    (b) What is the Purpose of the Economic Development Administration?
    (1) Many communities lag behind and suffer economic distress in one 
form or another, such as:

     High unemployment;
     Low income;
     Underemployment;
     Outmigration;
     Sudden economic changes due to the restructuring or 
relocation of industrial firms;
     Closing or realignment of defense bases or cutbacks in 
defense procurement;
     Economic impact of natural disasters or other emergencies;
     Actions of the Federal government (such as environmental 
requirements) that curtail or remove economic activities; and
     Impacts of foreign trade.

    (2) The purpose of the Economic Development Administration is to 
address economic problems affecting economically distressed rural and 
urban communities; by helping them:
    (i) Develop and strengthen their economic development planning and 
institutional capacity to design and implement business outreach and 
development programs; and
    (ii) Develop or expand public works and other facilities, financing 
tools, and resources that will create new job opportunities, save 
existing jobs, retain existing businesses, and support the development 
of new businesses.
    (3) To promote a strong and growing economy throughout the United 
States, EDA works in partnership with State and local governments, 
Indian tribes and local, regional, and State public and private 
nonprofit organizations. With them EDA develops and carries out 
comprehensive economic development strategies that address the economic 
problems of distressed communities. EDA helps such communities increase 
their economic development capacities so that they can take advantage of 
existing resources and development opportunities.