"On behalf of the International Economic Development Council (IEDC) and the thousands of economic development organizations and professionals we serve across the country, I want to thank Chairman Carper, Ranking Member Capito, Subcommittee Chairman Kelly, and Subcommittee Ranking Member Cramer for their work and leadership on the Economic Development Reauthorization Act of 2024 (S. 3891). This critical bipartisan legislation would reauthorize the U.S. Department of Commerce’s Economic Development Administration (EDA), the only federal agency solely focused on economic development. For the first time in over 20 years, this reauthorization would make important reforms to the services and programs that EDA provides, ensuring that its investments are meeting the current needs required for sustainable job growth and the building of strong and resilient regional economies throughout the United States. We commend this bill and support its passage through committee and the full Senate."
- Nathan Ohle, IEDC President & CEO
RE: IEDC Support for S. 3891, the Economic Development Reauthorization Act of 2024
Dear Chairman Carper, Ranking Member Capito, Subcommittee Chairman Kelly and Subcommittee Ranking Member Cramer,
On behalf of the International Economic Development Council (IEDC) and the thousands of economic development organizations and professionals we serve, thank you for your bipartisan work and leadership on the Economic Development Reauthorization Act of 2024 (S. 3891), legislation that would reauthorize the U.S. Department of Commerce’s Economic Development Administration (EDA) for the first time in 20 years.
The Economic Development Reauthorization Act would make important improvements and reforms to EDA’s core programs and activities including disaster assistance, workforce development, broadband deployment, and renewable energy, ensuring that the agency’s investments are maximized and impactful.
Specifically, we support your efforts to:
- Increase the overall authorization level for EDA and its programs to reflect the important role of EDA in serving distressed and underserved communities across the country.
- Revise cost sharing requirements, increasing the baseline percentage for EDA’s federal share and reducing the baseline requirement for local matching funds.
- Authorize EDA planning grants to be utilized for predevelopment activities, capacity building, and administrative expenses, and allow the agency to increase the federal share up to 100 percent for Partnership Planning grants and other disaster recovery investments.
- Modernize EDA’s authorities to award grants to public-private partnerships or consortia for high-speed broadband projects.
- Establish an Office of Disaster Recovery and Resilience and a new Office of Tribal Economic Development within EDA.
- Authorize EDA to make grants to support the development and expansion of workforce training programs.
We commend this bill and support its passage through the committee and the full Senate. As the legislation moves forward, IEDC and our members stand ready to serve as a resource and partner.
Sincerely,
Nathan Ohle
President and CEO