The Economic Development Administration had a budget of $38 million in fiscal 2016 and 206 employees.2
• Oversees the department’s domestic economic development activities and is the secretary’s principal advisor on economic development responsibilities and activities
• Proposes general federal policies relating to economic development of undeveloped or underdeveloped portions of the country
• Designates economic development districts and terminates such designations when conditions require
• Assists state and local agencies in planning and carrying out economic development programs for designated districts
• Establishes guides on the nature, scope and content of any Comprehensive Economic Development Strategies (CEDS), and acts upon CEDS requests
• Assists state and local agencies in developing applications for technical and financial assistance through grants and cooperative agreements
• Acts on requests for approval of economic development projects, and develops, issues and interprets policy guidance and criteria that agencies must follow in performing functions under these financial assistance programs
• Maintains relationships with federal agencies and national organizations concerned with economic development
• Assures the administration of Title I of the Public Works Employment Act of 1976, as amended by P.L. 95-28, including monitoring and servicing of grants
• Assures administration of loans and grants provided under the Community Emergency Drought Relief Act of 1977. P. L. 95-313