Economic Development Administration
The Economic Development Administration (EDA) was established under the Public Works and Economic Development Act of 1965 (42 U.S.C. 3121), as amended, to generate jobs, help retain existing jobs, and stimulate industrial and commercial growth in economically distressed areas of the United States.
EDA assistance is available to rural and urban areas of the Nation experiencing high unemployment, low income, or other severe economic distress.
Tri County Council for Western Maryland serves as an Economic Development District for EDA, which provides local governments and certain other educational institutions and non-profits the opportunity to apply for EDA funding. As the Economic Development District, TCCWMD is responsible to create and annually update a Comprehensive Economic Development Strategy (CEDS). This investment in strategic planning helps local communities plan for new technologies, job creation opportunities, and economic development, in the face of the challenges in the region.
Any project submitted to EDA must be in alignment with the CEDS document or other approved regional plan, to ensure that the project is a local priority before receiving federal funding. If your organization is interested in pursuing EDA funding, we encourage you to reach out to us, as we can schedule a meeting with EDA to vet your project eligibility, and we are here to assist you with the application process.
EDA’s 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. There are currently several different programs under EDA, with the Assistance to Coal Communities funding set up to assist communities negatively impacted by the closure of coal fired power plants and coal mines. This is an ideal opportunity for Western Maryland, particularly Allegany and Garrett Counties.
Let’s connect and talk more about your project and EDA funding.
Comprehensive Economic Development Strategy (CEDS)
EDA Funding Opportunities
“Tri County Council of Western Maryland was very helpful in providing a low‐interest loan for the purchase of my newly expanded office space. The loan allowed expansion without the burden of a high‐interest rate that often goes along with business loans.
Not only that, but along the way of the application process, TCCWMD staff were able to provide insight and helpful advice on things like the business plan and the way things are budgeted to help set my business up for success.”
