The U.S. Department of Commerce’s Economic Development Administration (EDA) published guidelines for how they will invest $3 billion in funding allocated to the agency by the American Rescue Plan Act of 2021 (ARP). This level of funding is ten times the EDA’s typical annual budget and the largest federal investment in economic development in decades. The funding will be made available to communities through competitive grant programs. This is a unique opportunity to secure federal funding for your priority economic development projects.
Baker Tilly Municipal Advisors has been carefully tracking this program and has assembled a team ready to assist communities in preparing and submitting applications. The funding is divided into six individual programs:
Applying for an EDA grant is a thorough process that requires preparing a variety of detailed documents. Baker Tilly’s economic development specialists can guide your community through the EDA process and help you secure funding through this unprecedented opportunity.
For more information, or to learn more about how Baker Tilly can help, contact our team.