The Fiscal Year 2012 annual report published by the U.S. Economic Development Administration (EDA) shows that the agency awarded about $297 million to support 674 economic development and disaster relief funding projects.
Highlights from the EDA‚Äôs FY 2012 annual report:-
Construction ‚Äì Out of the total, $194 million worth of EDA funding went to construction projects. These projects together generated $4.6 billion in private investments and resulted in the creation and retention of 40,000 jobs.
Planning Studies ‚Äì EDA awarded $29 million for 327 studies to help develop regional planning strategies.
Rural Jobs and Innovation Accelerator Challenge ‚Äì EDA worked with 12 federal agency partners and awarded $9 million under this new program to 13 organizations to leverage local assets for supporting industry clusters and partnerships.
Advanced Manufacturing Jobs and Innovation Accelerator Challenge ‚Äì EDA and five other federal agencies awarded $20 million for 10 public-private partnerships supporting local job creation efforts.
Apart from the usual report sent to Congress, EDA‚Äôs annual report has also been published this year as a web-based resource with an interactive online map that allows users to examine state-by-state investments.
Texas was the biggest beneficiary of EDA funding in FY 2012 in terms of the number of projects funded, receiving 47 grants that add up to around $21.2 million.
The University of Texas at San Antonio‚Äôs Eagle Ford Shale Community Development Program alone got $1 million from the EDA, meant to assist South Texas communities position themselves to take advantage of opportunities created by Eagle Ford Shale.
As per grantee estimates, the 47 EDA grants to Texas will help recipient projects retain or create 6,144 jobs.
Tennessee topped the charts in terms of the number of jobs created, with 24 grants totaling $21 million in EDA funding helping retain or create 6,812 jobs.
California got 25 grants totaling $18 million that will help retain or create 4,090 jobs.
The Los Angeles Kretz Innovation Campus was awarded $2.1 million to be used for installing a solar power photo voltaic canopy, and for other needs such as laboratory equipment and a training and prototyping workshop at the incubator in the campus. This EDA-supported project will help create 171 jobs.