Longtime commerce agency at risk

Economic Development Administration, which helped Wilmington and Moraine, may lose funds.

Dayton Daily News
U.S. Sen. Sherrod Brown on Wednesday introduced a plan to help the U.S. Economic Development Administration avoid possible funding cuts.
Brown, D-Ohio, said the agency plays a critical role in helping cities recover from the loss of major employers. Among the Ohio cities that have received help from the agency are Moraine after General Motors Corp. closed its plant there, and Wilmington after it lost DHL.
Formed 45 years ago, the EDA is an agency within the U.S. Department of Commerce that “partners with distressed communities throughout the United States to foster job creation, collaboration and innovation,” according to the EDA website.
The Senate is considering whether it should renew funding?for the agency. Brown wants the Senate to maintain that funding. On Wednesday, he said he will introduce two amendments to the current spending bill to augment the agency’s mission.
The first amendment would ensure the EDA’s ability to provide funding for the revitalization of auto manufacturing communities, Brown said.
The second amendment would allow the agency to provide more funds to establish new business incubators and expand existing ones in Ohio, Brown said.
For every $10,000 the agency spends on incubators, “somewhere between 50 and 70 jobs” are created, Brown said. “We know that works.”
To read the rest of the article, please click on the source link above.

U.S. Sen. Sherrod Brown on Wednesday introduced a plan to help the U.S. Economic Development Administration avoid possible funding cuts.

Brown, D-Ohio, said the agency plays a critical role in helping cities recover from the loss of major employers. Among the Ohio cities that have received help from the agency are Moraine after General Motors Corp. closed its plant there, and Wilmington after it lost DHL.

Formed 45 years ago, the EDA is an agency within the U.S. Department of Commerce that “partners with distressed communities throughout the United States to foster job creation, collaboration and innovation,” according to the EDA website.

The Senate is considering whether it should renew funding?for the agency. Brown wants the Senate to maintain that funding. On Wednesday, he said he will introduce two amendments to the current spending bill to augment the agency’s mission.

The first amendment would ensure the EDA’s ability to provide funding for the revitalization of auto manufacturing communities, Brown said.

The second amendment would allow the agency to provide more funds to establish new business incubators and expand existing ones in Ohio, Brown said.

For every $10,000 the agency spends on incubators, “somewhere between 50 and 70 jobs” are created, Brown said. “We know that works.”

To read the rest of the article, please click on the source link above.

Longtime commerce agency at risk »