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Sunday, November 24, 2024

EDA funds 5 projects to support economic development in New Jersey during 2023

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Maryam Janani-Flores Chief of Staff at U.S. Economic Development Administration at EDA | Official Website

Maryam Janani-Flores Chief of Staff at U.S. Economic Development Administration at EDA | Official Website

New Jersey ranked 38th nationwide with five grants awarded by the US Economic Development Administration (EDA) to fund economic development projects in 2023.

This is a decrease from the amount of grants awarded during 2022, when there were 12 grants disbursed across the state.

In total, the EDA invested $4,857,441 in economic development projects during 2023.

Of all the grants awarded for New Jersey projects, two were a part of the regional innovation strategies program - more than any other program.

The EDA is a federal government agency focusing exclusively on economic development. The agency solicits applications for funding to support construction, non-construction planning, technical assistance, and revolving loan fund projects under the agency's Public Works and the Economic Adjustment Assistance (EAA) programs. Grants made under these programs are designed to advance economic development in distressed communities.

Their grants are instrumental in fostering economic growth across diverse communities, often aiding in job creation, infrastructure development, and enhancing local business opportunities.

New Jersey Programs Ranked by Number of Grants in 2023
RankProgramNumber of Grants
1Regional Innovation Strategies2
2Planning1
2Public Works1
2Technical Assistance1
5Trade Adjustment Assistance0
5Research and National Technical Assistance0

States Ranked by Total EDA Grants Awarded in 2023
RankStateTotal Grants
1West Virginia23
2California22
3Virginia21
3New York21
3Missouri21
6Michigan20
7Texas19
7Arkansas19
7North Carolina19
7Georgia19
7Massachusetts19
12Florida18
13Ohio17
13Indiana17
13Alabama17
16Oklahoma16
16Washington16
18Pennsylvania15
18Oregon15
18Kentucky15
21South Carolina14
22Illinois13
23Wisconsin12
24Iowa11
24Colorado11
24Tennessee11
27Arizona10
27Montana10
27Louisiana10
30South Dakota9
30Alaska9
30Maine9
33Nevada7
33Mississippi7
33Minnesota7
36Utah6
36New Mexico6
38North Dakota5
38Connecticut5
38New Jersey5
38Maryland5
42Rhode Island4
42Vermont4
42Wyoming4
45Nebraska3
45Hawaii3
47Delaware2
47Idaho2
47Kansas2

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