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Economic Development Administration Funding Opportunity Announced

June 20, 2011

The Economic Development Administration (EDA) helps distressed communities establish a foundation for durable regional economies throughout the United States. EDA generally allocates funds for the Global Climate Change Mitigation Incentive Fund (GCCMIF) to support projects that foster economic competitiveness while enhancing environmental quality. EDA anticipates that these funds will be used to advance the green economy by supporting projects that create jobs through and increase private capital investment in initiatives to limit the nation's dependence on fossil fuels, enhance energy efficiency, curb greenhouse gas emissions, and protect natural systems. Eligible applicants include state and local governments, federally recognized tribes, non-profits, and private institutions of higher education. Although available funding is dependent on FY2011 appropriations and is not yet known, EDA allocated $25 million for the GCCMIF in 2010, and the average size of a GCCMIF investment was approximately $840,000. The application due date will depend on the funding cycle and will be announced. See the FY 2011 Public Works, Economic Adjustment, and GCCMIF Programs Opportunity announcement on the website for more information.

—Julie Jones