The office administers the grant programs that help communities plan and finance their growth and development, increase their capacity to govern, and provide shelter and services for homeless people.

[1] Other grant focuses are on Indian Tribes, self-help for those who wish to own their homes, people who live in rural areas, and youth.

The Office of Economic Development creates Promise Zones[5] that are meant to revamp impoverished areas by attracting private investment and increasing affordable housing.

[8] The office has been critiqued for providing more of their grant funding to the districts of the elected officials who oversee HUD's programs[9] And in 1994 the office purchased software meant to view communities and their unemployment rates and income, which has been seen as an indirect way to also map crime, which would influence on what areas would receive funds.

[10] For Fiscal Year 2015 the office's appropriations Budget was $6.4 billion dollars,[11] with nearly half of that intended to be used for the Community Development Block Grant, which has consistently been the focus of critics against wasteful spending.