[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: 13CFR305.1]

[Page 617]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 305_PUBLIC WORKS AND ECONOMIC DEVELOPMENT INVESTMENTS--Table of Contents
 
                            Subpart A_General
 
Sec.  305.1  Purpose and scope.


    Public Works and Economic Development Investments (``Public Works 
Investments'') intend to help the nation's most distressed communities 
revitalize, expand and upgrade their physical infrastructure to attract 
new industry, encourage business expansion, diversify local economies 
and generate or retain long-term private sector jobs and investments. 
The primary goal of these Investments is the creation of new, or the 
retention of existing, long-term private sector job opportunities in 
communities experiencing significant economic distress as evidenced by 
chronic high unemployment, underemployment, low per capita income, 
outmigration, or a Special Need. These Investments also intend to assist 
communities in attracting private capital investment and higher-skill, 
higher-wage job opportunities and to promote the successful long-term 
economic recovery of a Region.