Washington, DC – Oregon’s Senator Jeff Merkley led a coalition of 19 other senators today in calling on President Obama for comprehensive funding for the Economic Development Administration (EDA).
The EDA is designed to create jobs and stimulate the economy in areas of the country that need the most help. Its assistance is targeted to rural and urban areas experiencing high unemployment, low income, a natural disaster, or other severe economic distress.
“With national unemployment reaching its highest point in decades, these highly distressed areas of the country need support more than ever,” Merkley said.
“Whether a town is recovering from a plant closure or a flood, it is critical that the community invest in its economic future. Without question, the EDA represents an efficient and cost effective way to help distressed communities overcome the challenges they are facing.”
The senators asked President Obama to support the EDA’s programs, including:
• The Global Climate Change Mitigation Incentive Fund to help communities transition to a clean energy future;
• The Public Works program to provide assistance to communities who need essential infrastructure improvements to entice new businesses to their area; and
• The Trade Adjustment Assistance program to help firms that have seen their business move overseas regain a competitive advantage.