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NARC Joins Associations to Advocate for EDA Funding in Second Economic Stimulus Package
Two separate letters were sent to House and Senate leadership in support of the effort.
American Public Works Association • Center for Automotive Research •
National Association of Counties • National Association of Development Organizations •
National Association of Regional Councils
April 17, 2008
The Honorable Barbara A. Mikulski
Chairman
Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies
144 Dirksen Senate Office Building
Washington, DC 20510
The Honorable Richard C. Shelby
Ranking Member
Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies
125 Hart Senate Office Building
Washington, DC 20510
The Honorable Alan B. Mollohan
Chairman
House Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies
H‐309 US Capitol
Washington, DC 20515
The Honorable Rodney Frelinghuysen
Ranking Member
House Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies
2442 Rayburn House Office Building
Washington, DC 20515
Dear Chairmen and Ranking Members,
We are writing to respectfully request that economic stimulus legislation currently being developed by Congress include supplemental funding for the economic development assistance programs of the Economic Development Administration (EDA).
As the only federal agency with the sole mission of private sector job creation, EDA is uniquely positioned to create and retain U.S. jobs and spur private sector investment in our nation’s distressed communities. According to the agency, EDA investments in FY2007 alone are predicted to create 52,124 jobs at a cost of just $4,000 per job and attract $26 of private capital investment for every dollar the agency spends.
Our best estimates indicate that a $170 million backlog of high quality potentially “ready to go” EDA public works projects exists. More than 115 projects are currently in the agency’s funding queue, awaiting final clearance and funding before they can be processed. They are expected to generate or retain more than 47,000 jobs and attract in excess of $7.2 billion in new private sector investment. These numbers provide a powerful reminder of how even a small federal investment in EDA can yield large benefits to the U.S. economy. Throughout its history EDA has a proven to be an effective tool in combating economic distress and chronic poverty.
For these reasons, we urge you to include supplemental appropriations for EDA in any domestic stimulus package developed by Congress. We thank you for your consideration of this request.
Sincerely,
American Public Works Association
Center for Automotive Research - Automotive Communities Program (Ann Arbor, MI)
National Association of Counties
National Association of Development Organizations
National Association of Regional Councils