Insights: Economic Adjustment Assistance Program
The Economic Adjustment Assistance (EAA) program is one of six American Rescue Plan programs implemented by the U.S. Economic Development Administration (EDA) to boost economic recovery in regions experiencing severe economic dislocations and strengthen local economies. Considered the most flexible program, this initiative makes $500 million in EAA grants available to help hundreds of communities plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
Various technical, planning, workforce development, entrepreneurship, and public works and infrastructure projects are eligible for funding under this program, including:
- Industrial parks
- High-tech shipping and logistics facilities
- Business incubators and accelerators
- Brownfield redevelopment
- Technology-based facilities
- Wet labs
- Multi-tenant manufacturing facilities
- Science and research parks
- Workforce training facilities
- Telecommunications infrastructure
- Development facilities
- Water and sewer system improvements
This also includes non-construction activities such as design and engineering, technical assistance, and economic recovery strategy development.
Eligible applicants for EDA’s Economic Adjustment Assistance program include a(n):
- District Organization of an EDA-designated Economic Development District
- Indian Tribe or a consortium of Indian Tribes
- State, county, city, or other political subdivision of a state, including a special purpose unit of a state or local government engaged in economic or infrastructure development activities, or a consortium of political subdivisions
- Institution of higher education or a consortium of institutions of higher education
- Public or private non-profit organization or association acting in cooperation with officials of a political subdivision of a state
Individuals or for-profit entities are not eligible.
EDA generally expects to fund at least 80%, and up to 100%, of eligible project costs. Grants officers in the applicable regional office will consider on a case-by-case basis whether the circumstances of the proposed project warrant a federal share in excess of 80%, including whether the applicant has exhausted its effective taxing or borrowing capacity, the extent of the economic impact of the coronavirus pandemic on the region, or whether the region meets other thresholds for elevated need based on its relative economic distress. Applicants that submit projects with increased levels of match may be considered more competitive.Now through March 15, 2022, applications will be reviewed on a rolling basis. More information on the application process can be found here. C&S can help! We have full-time grant administrators to manage the avalanche of paperwork involved in securing funding. More than 60% of our work as a firm is done on public projects funded by any combination of local, state, and federal monies. We understand the importance of adhering to, and documenting, procedures and protocols that are accordingly required.
For more information on the Economic Adjustment Assistance program and how it may benefit your project, contact Nick Cerro at (315) 455-2000 or email@example.com.