What is the EDA?
The Economic Development Administration (EDA) is a federal agency providing grants to communities to generate new employment, retain existing jobs, assist economically-distressed communities and stimulate industrial and commercial growth. EDA assistance is available to rural and urban areas and has traditionally focused on communities experiencing high unemployment, low income, or other severe economic distress. The stated 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.”
What is an EDD?
An Economic Development District (EDD), is a federally designated organization charged with the maintenance and implementation of the Comprehensive Economic Development Strategy (CEDS). The EDD of Northern Illinois Region is a regional non-profit organization. Serving as a bridge between the private and public sectors, the EDD networks area leaders in readying economic development projects potentially eligible for grant funding. Staff also assists in identifying matching local dollars to state and federal dollars for these projects working to bring more wealth and jobs to the region. This extends the economic development capabilities of Boone, McHenry and Winnebago Counties.
The EDD serves as the point of contact for federal EDA staff. When local economic development projects arise aligning with EDA funding priorities and the goals of the local CEDS document, staff assist local government and non-profit organizations submit a grant application to the appropriate funding opportunity by ensuring all necessary steps are taken before submittal.
Finally, EDD staff assists the EDD Governing Board and it’s CEDS Strategy Committee. Both groups are comprised of local private and public sector leaders charged with the annual oversight of the CEDS plan. This includes the plan’s annual update of data and projects.