Regional Development Organizations Promote Rural Entrepreneurship

Aliceann Wolhbruck, Executive Director, NADO Research Foundation

This issue of the Digest highlights the importance of Economic Development Administration (EDA) programs upon rural and small metropolitan economic vitality. As Assistant Secretary Sampson points out, EDA and its partners prudently invest taxpayer funds, stimulate growth of a local economy and create jobs for local citizens.

From a now-famous micro-brewery in California to exporting clams from Florida, regional development organizations have leveraged EDA funding and programs to help local businesses grow and prosper. Although relatively small amounts of money are involved, these EDA-supported investments are paying long-term dividends to individuals and to the communities in which they reside.

Economic development in the 21st century is more than infrastructure and ribbon-cutting. Particularly in small metropolitan and rural regions, it also requires new and innovative approaches to training the workforce for knowledge-based jobs. In many regions it means careful evaluation and planning for disaster mitigation, and preparing communities to avoid and minimize the effects of disaster.

Since its creation in 1965, a major goal of EDA has been to support planning by economic development districts and other grantees to be sure that public funds are wisely invested as part of a comprehensive strategy. As the nation faces an uncertain economic future, it is critically important that EDA funds be carefully invested as part of a strategy that will help build and sustain local economies. While planning funds are a small part of EDAs budget, they provide the vehicle to assure that every dollar is effectively and efficiently invested.

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