Local and regional leaders sat down with the U.S. Economic Development Administration, the only federal department exclusively focused on economic development, to discuss new funding opportunities Tuesday.
Three new congressionally funded programs through the EDA aim to invest in distressed communities to create and connect workers to good jobs, grow tech industries, and support disaster recovery and resiliency.
Deputy Assistant Secretary for Regional Affairs Craig Buerstatte says the EDA is focused on supporting things that businesses need to survive, like infrastructure, workforce development, entrepreneurship, and strategic planning.
“These are contemporary issues emerging across our different economies all around the nation because of the unique times," Buerstatte says. "So EDA can provide strategic grants to communities, and I want to clarify, we invest in community support organizations, so these are nonprofits, institutions of higher education, workforce development boards.”
Zip Code Wilmington executive director Desa Burton says investing in Delaware programs goes a long way.
“Bringing tech companies to Delaware helps increase the number of places where we can place our graduates, but also just thinking about Delaware as a tech hub, that would be a very exciting thing to have that designation, to have that economic impact here,” Burton says.
A $500 million Tech Hubs program aims to help regions with assets, resources, capabilities, and potential become globally competitive tech centers.
Buerstatte also notes Congress sent $200 million to the Recompete Pilot Program. Buerstatte says that program helps build a prime-age workforce – 25 to 54 years of age - for those hubs
“Because we can’t just focus on hubs of opportunity, we need to connect under-connected and impoverished areas with those hubs, and I think the Recompete Program is all about creating access and labor market participation in some of our most distressed markets that have perpetually been underinvested in or overlooked," he says.
A $500 million Disaster Supplemental Assistance program is also available to assist communities recovering from Hurricanes Fiona and Ian, major wildfires and floods, and other 2021 and 2022 declared natural disasters.
Grant applications are not yet open, and Buerstatte is hopeful Congress will appropriate additional funds for these programs in the future.
