American Indian Report - August 2008 - (Page 22)

GRANTS EDA — Investing in Tribal Economic Development By Michelle Tirado With just about all federal agencies, the funding that they award is known as “grants.” one exception is the Economic Development Administration. Here, the awards are called “investments.” That says a lot about this agency’s mission and programs. EDA’s mission, pursuant to the Public Works and Economic Development Act of 1965 (as amended), is to advance economic growth in chronically distressed areas, places where unemployment is high and per capita income is low. It is advancing its mission through its seven “investment” programs, including its Public Works program, which supports the construction or rehabilitation of public infrastructure and facilities needed to generate or maintain jobs and investments, attract private sector capital and promote regional competitiveness, and its Planning program, which supports long- and short-term planning strategies to create and retain higher skill and wage jobs. In FY 2007, EDA invested more than $277 million in state, county, city, tribal and public institution projects, which were destined to create more than 50,000 jobs. And, as the agency has figured it, every dollar in taxpayer money that goes into these projects attracts, on average, about $26 in private capital investment. That is a pretty nice return for local economies and the national economy. As of February 2008, the EDA has made 509 investments in Native American communities, totaling $88 million, since 2001, according to the agency. It estimates that this funding has created 9,400 jobs for Native Americans and saved an additional 6,500. It has also leveraged more than $395 million in private sector investments. EDA awards about 55 planning investments to tribes annually, totaling around $2.6 million. When deciding what to invest in, the EDA looks for projects that promote innovation and competitiveness, entrepreneurship, regional collaboration and connection to the worldwide market. In recent testimony delivered to the U.S. Senate Committee on Indian Affairs, Matthew Crow, the EDA’s assistant secretary for external affairs and communications, said, “In selecting projects for investment, both for distressed Native American communities as well as other distressed areas, EDA relies on grassroots ideas. When economic development strategies are developed by local decision makers, the whole process works better.” n 22 August 2008 American Indian Report http://www.eda.gov/ http://www.eda.gov/ImageCache/EDAPublic/documents/pdfdocs/200508pwedaasamended_2efinal_2epdf/v1/200508pwedaasamended.final.pdf http://www.eda.gov/ImageCache/EDAPublic/documents/pdfdocs/200508pwedaasamended_2efinal_2epdf/v1/200508pwedaasamended.final.pdf

Table of Contents Feed for the Digital Edition of American Indian Report - August 2008

American Indian Report - August 2008 Contents Notes from Indian Country Congress: Activity from the Hill Navajo Elder Recognized for Fighting for Voting Rights Water Rights — A Long, Hard Battle Well Worth Fighting Native Youth Share Creator’s Game with International Community Rancheria Restores Traditional Ecosystem on Purchased Land Grants: EDA — Investing in Tribal Economic Development Native Eyes Film Showcase Entices Youth into Media BlogRoll

American Indian Report - August 2008

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