UEDA is excited to share that as part of the Water Resources Development Act of 2024, the Economic Development Administration is reauthorized for the first time in 20 years. This is excellent news for our network and field as we collectively work to strengthen our communities through talent, innovation, and place.
The reauthorization emphasizes enhancing public works and economic development through updated grant processes, workforce training initiatives, renewable energy programs, and broadband deployment. It introduces a critical supply chain site development grant program and updates distress criteria for grant eligibility. Furthermore, it establishes new offices for Tribal Economic Development and Disaster Recovery, improves environmental review processes, and focuses on infrastructure in underserved and rural communities. Appropriated funding to sustain these programs include University Center funding.
As we continue our work with the University Center Cohort (UC Cohort), the University Center program in the EDA reauthorization supports research and technical assistance efforts led by higher education institutions to foster regional economic development. This initiative encourages partnerships between universities, local governments, and businesses to address economic challenges through applied research, workforce training, and technology commercialization. The program focuses on leveraging academic resources to drive innovation, support small businesses, and create sustainable economic growth, particularly in distressed or underserved communities. Enhanced investment priorities align with broader EDA goals of equitable and impactful development.