The Economic Development Administration (EDA) works in partnership with state and local governments, regional economic development districts, public and private nonprofit organizations, and Indian tribes. EDA helps distressed communities address problems associated with long-term economic distress, as well as sudden and severe economic dislocations. EDA was established to generate jobs, help retain existing jobs, stimulate economic growth in economically distressed areas.
EDA programs promote comprehensive innovation based economic development efforts to enhance the competitiveness of regions; support technology led development, accelerate new business development and enhance the ability of regions to capitalize on opportunities presented by free trade, resulting in increased private investment and higher skill, higher-wage jobs.