1、 https:/crsreports.congress.gov March 22, 2021Federal Resources for State and Local Economic DevelopmentCongress has authorized over 130 economic development programs, which are administered by over 20 departments and agencies. Federal resources for economic development are often delivered to state
2、and local stakeholders through technical assistance and financial assistance programs. This In Focus provides an overview of major federal financial assistance programs; primarily administered through grants, credit assistance, and tax policies. What Is Economic Development? The term “economic devel
3、opment” lacks a common definition and can refer both to a policy objective as well as a set of tools to achieve that objective. The Department of Commerces Economic Development Administration (EDA), describes economic development as creating the conditions for economic growth and improved quality of
4、 life by expanding the capacity of individuals, firms, and communities to maximize the use of their talents and skills to support innovation, lower transaction costs, and responsibly produce and trade valuable goods and services. Economic development is also described as a long-term process designed
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