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Strengthening America's Communities Initiative

March 15, 2005 Economic Development Today Telecast

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America's changing economy is strong and getting stronger. But America's economic strength is not felt equally throughout the Nation. In low-income communities and in communities where traditional industries do not employ as many workers as they did a generation ago, opportunity can appear out of reach. President Bush believes that communities can make the transition to vibrant and strong economies because of the entrepreneurial spirit, vision and hard work of those who live there. The job of governments is to inspire, to help remove barriers to growth, to be accountable for taxpayer dollars, and to ensure results for programs aimed at making a difference in peoples' lives.

Building on existing economic and community development efforts, the President will propose a new initiative to help strengthen America's transitioning and most needy communities, while making better use of taxpayer dollars by reforming and restructuring many of the existing Federal economic and community development programs. The President's initiative, to be proposed in his Fiscal Year (FY) 2006 budget, will consolidate 18 existing programs, simplify access to the federal system, set new eligibility criteria, and establish strong accountability standards all in exchange for the flexible use of he funds so that communities most in need will be assisted. The new $3.71 billion unified grant-making program will better target assistance and achieve greater results for low-income persons and economically-distressed areas.

Moderator
     Ms. Doris McMillion

Panelists
     Dr. David Sampson, Assistant Secretary of Commerce for 
        Economic Development
     Ms. Deborah L. Wince-Smith, President, Coucil on Competiveness
     Deirdre M. Coyle, Senior Vice President, 
        Director of Communications, Initiative for a Competitive Inner City
     Deborah Wince-Smith, Council on Competitiveness 
     Terrell Halaska, Special Assistant to the President for 
        Domestic Policy, White House


Contact: Peggy Tadej, Director of Environment and Special Projects - Click to Email or call 202.986.1032 Ext: 224