Port Arthur Small Business Summit   An Update on the Priorities and Activities of the: ECONOMIC DEVELOPMENT ADMINISTRATION...
Economic Development Administration <ul><ul><li>&quot;The only way to fully restore America’s economic strength is to make...
EDA Programs
<ul><li>Support long-term, coordinated and collaborative  regional development  approaches </li></ul><ul><li>Support  inno...
EDA Creates Jobs and Spurs Innovation <ul><li>Based on a recent third-party study, every $100,000 of EDA investment create...
EDA Austin Regional Office Digital Workforce Academy  <ul><li>$1.4M  EDA grant to nonprofit organization to fund a busines...
EDA Austin Regional Office Gulf Coast EDD  Revolving Loan Fund   <ul><li>$10M EDA  investment as an immediate response to ...
EDA Austin Regional Office TEEX- South Texas Trade Study   <ul><li>Texas Engineering Extension Service will use the $350K ...
EDA Austin Regional Office UTSA: Sustainable Development Project   <ul><li>EDA’s $750K investment will enable a comprehens...
EDA Austin Regional Office Port Arthur DRA  <ul><li>$750K proposed EDA investment in Mardi Gras of Southeast Texas Inc. </...
Thank You!   Austin Regional Office Contact Information Pedro Garza, Regional Director (512) 381-8144
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Economic Development Administration and Your Organization

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Economic Development Administration and Your Organization

  1. 1. Port Arthur Small Business Summit An Update on the Priorities and Activities of the: ECONOMIC DEVELOPMENT ADMINISTRATION Austin Regional Office October 28, 2009
  2. 2. Economic Development Administration <ul><ul><li>&quot;The only way to fully restore America’s economic strength is to make the long-term investments that will lead to new jobs, new industries, and a renewed ability to compete with the rest of the world.&quot; President Barack Obama </li></ul></ul><ul><ul><li>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. </li></ul></ul><ul><ul><li>To help distressed communities compete globally in the 21 st century, EDA promotes regional economic development efforts that benefit distressed communities. </li></ul></ul>
  3. 3. EDA Programs
  4. 4. <ul><li>Support long-term, coordinated and collaborative regional development approaches </li></ul><ul><li>Support innovation and competitiveness </li></ul><ul><li>Encourage entrepreneurship </li></ul><ul><li>Connect regional economies with the worldwide marketplace </li></ul>Policy Priorities
  5. 5. EDA Creates Jobs and Spurs Innovation <ul><li>Based on a recent third-party study, every $100,000 of EDA investment creates 22 to 50 jobs. </li></ul><ul><li>EDA investments in rural areas generate jobs at a cost of between $2,001 and $4,611 per job. </li></ul><ul><li>Investments in business incubators generate significantly greater impacts in the communities in which they are made than do other projects types. </li></ul>$2,920 – 6,872 1.5 – 3.4 Community Infrastructure $1,377 – 1,999 5.0 – 7.3 Ind. Park Infrastructure $1,291 – $2,293 4.4 – 7.8 Roads & Other Trans. $744 – $1008 9.6 – 13.4 Commercial Structures $144 – 216 46.3 – 69.4 Business Incubators FEDERAL COST PER JOB EST. LOCAL JOBS GENERATED PROJECT TYPE
  6. 6. EDA Austin Regional Office Digital Workforce Academy <ul><li>$1.4M EDA grant to nonprofit organization to fund a business incubator as part of Phase II expansion of the Golden Triangle Empowerment Center </li></ul><ul><li>100% grant rate due to impact of Hurricane Ike on the area in 2008 </li></ul><ul><li>Project is expected to support local entrepreneurs and provide products/services to the region’s refineries and construction companies </li></ul><ul><li>Aid in the revitalization of downtown Port Arthur </li></ul>
  7. 7. EDA Austin Regional Office Gulf Coast EDD Revolving Loan Fund <ul><li>$10M EDA investment as an immediate response to Hurricane Ike in 2008 </li></ul><ul><li>Designed to provide assistance to businesses severely impacted by natural disasters </li></ul><ul><li>Administered by the regional Economic Development District </li></ul><ul><li>GCEDD will develop a suite of loan products to meet the needs of local businesses </li></ul>
  8. 8. EDA Austin Regional Office TEEX- South Texas Trade Study <ul><li>Texas Engineering Extension Service will use the $350K EDA investment to conduct research and collect data on the region’s ports, transportation routes and industries </li></ul><ul><li>The results of the study will be presented in a series of information sessions and workshops with local government and logistics providers </li></ul>
  9. 9. EDA Austin Regional Office UTSA: Sustainable Development Project <ul><li>EDA’s $750K investment will enable a comprehensive study of the impact of Hurricane Dolly on 16 counties </li></ul><ul><li>Will analyze the economic, social and technological issues associated with recovery </li></ul><ul><li>Sustainable Business Program: provide emergency preparedness and sustainable business development training and counseling </li></ul><ul><li>Explore the use of green technology in developing disaster resiliency strategies for the region </li></ul>
  10. 10. EDA Austin Regional Office Port Arthur DRA <ul><li>$750K proposed EDA investment in Mardi Gras of Southeast Texas Inc. </li></ul><ul><li>Project will facilitate the implementation of the Downtown Master Plan, initiating and completing commercial and retail projects to stimulate economic activity in the downtown area </li></ul><ul><li>Enable enhanced marketing and technical assistance activities to support local entrepreneurs </li></ul><ul><li>Attract private investment to ensure long-term economic sustainability in the region </li></ul>
  11. 11. Thank You! Austin Regional Office Contact Information Pedro Garza, Regional Director (512) 381-8144

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