
Economic Development Administration overwhelmingly reauthorized
The legislation also includes a relaxation of the cost sharing requirements.
We somehow missed this item but thanks to the State Science and Technology Institute (SSTI) for noting it.
With strong bipartisan support, the last Congress overwhelmingly passed a bill to reauthorize the Economic Development Administration. The House of Representatives approved it 339-18 on December 10, and the Senate passed it 97-1 on December 18. The final action was a signature from President Joe Biden which occurred on January 4.
The SSTI notes that, “As authorizing legislation, it does not include funding, but it does contain provisions that are of importance to the technology-based economic development field. Among the provisions are modifications to cost share, new responsibilities and offices for EDA, and investment priorities that for the first time are approved by Congress.”
Cost share will now be eased under the reauthorization. The federal share can increase to 60 percent, and funds from regional commissions (e.g., the Appalachian Regional Commission, Delta Regional Authority), which are funded by the federal government, can be considered part of the “non-federal” share. In areas with less than 10,000 residents, the federal share can go up to 100 percent.
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