[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR300.1]

[Page 597]
 
                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 mission.

    EDA was created by Congress pursuant to the Public Works and 
Economic Development Act of 1965 to provide financial assistance to both 
rural and urban distressed communities. EDA's mission is to lead the 
Federal economic development agenda by promoting innovation and 
competitiveness, preparing American regions for growth and success in 
the worldwide economy. EDA will fulfill its mission by fostering 
entrepreneurship, innovation and productivity through Investments in 
infrastructure development, capacity building and business development 
in order to attract private capital investments and higher-skill, 
higher-wage jobs to Regions experiencing substantial and persistent 
economic distress. EDA works in partnership with distressed Regions to 
address problems associated with long-term economic distress as well as 
to assist those Regions experiencing sudden and severe economic 
dislocations, such as those resulting from natural disasters, 
conversions of military installations, changing trade patterns and the 
depletion of natural resources. EDA Investments generally take the form 
of Grants to or Cooperative Agreements with Eligible Recipients.