U.S. Sen. Shelley Moore Capito (R-WV) on March 7 signed on as the lead original cosponsor of bipartisan legislation that would reauthorize the Economic Development Administration (EDA) for the first time in nearly 20 years.
“The Economic Development Administration is a critical partner for many of our communities, helping to drive investment, create jobs, and grow local economies across West Virginia,” Sen. Capito said. “It is past time for Congress to reauthorize the EDA.”
An agency of the U.S. Department of Commerce, the EDA invests in the economic development of America’s distressed communities. Through EDA grant programs, local communities may plan economic development activities, construct last-mile infrastructure, and mitigate the effects of short- and long-term economic challenges and disasters.
The Economic Development Reauthorization Act of 2024, S. 3891, which Sen. Capito introduced alongside bill sponsor U.S. Sen. Tom Carper (D-DE), would amend the Public Works and Economic Development Act of 1965 to update and expand federal economic development investment in the economic recovery, resiliency, and competitiveness of communities, regions, and states across the nation, according to the text of the 103-page bill.
“This legislation will help preserve locally driven economic development decisions and ensure core programs that fund a range of activities, including infrastructure projects, will continue for years to come,” said Sen. Capito.
The bill would make key reforms to modernize EDA’s core programs and authorize activities to support workforce development, disaster assistance, broadband deployment, and renewable energy, among other activities, and would authorize and update the laws pertaining to certain federal regional commissions and establish two new regional commissions, according to a bill summary provided by the lawmakers.
“Reauthorizing the EDA will give this critical agency the tools and resources it needs to better support local businesses and organizations and equip our communities with climate-resilient infrastructure, in turn strengthening both local and regional job creation and our competitiveness abroad,” said Rep. Carper. “I am grateful to my colleagues on both sides of the aisle for their partnership in writing this legislation to empower the EDA for years to come.”