Rural Development Fund

THE MISSION OF THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) IS TO LEAD THE FEDERAL ECONOMIC DEVELOPMENT AGENDA BY PROMOTING COMPETITIVENESS AND PREPARING THE NATION'S REGIONS FOR GROWTH AND SUCCESS IN THE WORLDWIDE ECONOMY. AN AGENCY WITHIN THE U.S. DEPARTMENT OF COMMERCE, EDA MAKES INVESTMENTS IN ECONOMICALLY DISTRESSED COMMUNITIES IN ORDER TO CREATE JOBS FOR U.S. WORKERS, PROMOTE AMERICAN INNOVATION, AND ACCELERATE LONG-TERM SUSTAINABLE ECONOMIC GROWTH.THIS PROGRAM IS FUNDED UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT (PUBLIC LAW 116-136), WHICH PROVIDED EDA WITH $1.5 BILLION FOR ECONOMIC ASSISTANCE PROGRAMS TO HELP COMMUNITIES PREVENT, PREPARE FOR, AND RESPOND TO CORONAVIRUS. EDA CARES ACT RECOVERY ASSISTANCE, WHICH IS BEING ADMINISTERED UNDER THE AUTHORITY OF THE BUREAU'S FLEXIBLE ECONOMIC ADJUSTMENT ASSISTANCE (EAA) (PDF) PROGRAM, PROVIDES A WIDE-RANGE OF FINANCIAL ASSISTANCE TO ELIGIBLE COMMUNITIES AND REGIONS AS THEY RESPOND TO AND RECOVER FROM