The U.S. Economic Development Administration (EDA) is an agency in the United States Department of Commerce that provides grants and technical assistance to economically distressed communities in order to generate new employment, help retain existing jobs and stimulate industrial and commercial growth through a variety of investment programs.
EDA assistance is available to rural and urban areas of the United States experiencing high unemployment, low income, or other severe economic distress.
The EDA's stated 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.
"[2] The EDA's investment policy is designed to establish a foundation for sustainable job growth and the building of durable regional economies throughout the United States.
EDA encourages its partners around the country to develop initiatives that advance new ideas and creative approaches to address rapidly evolving economic conditions.