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What's New
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HUD Awards $24.6 Million in Grants to Redevelop Brownfields
and to Create Thousands of Jobs in 17 Communities
$119 million in loan guarantees to further stimulate
revitalization and employment
A metal scrap yard, a landfill and contaminated industrial
sites will soon become hotels, office buildings and
even a high tech silicon wafer factory.
more...
| BEDI
BEDI is Economic Development for Brownfields
The BEDI program offers specific opportunities for communities,
large and small, to return brownfields to productive
use.
more...
| BEDI
Introducing the Section 4 Guarantee Recovery Fund
Website
Section 4 provides certain nonprofit organizations with
a source of financing to rebuild property damaged or
destroyed by acts of arson or terrorism.
more...
Tax Savings Ticker...
Important Tax Tips for
Accountants and Businesses in the EZs and RCs
more...
| Press
Release
Introducing
the New Community Renewal Tour
RC/EZ/EC Communities – your source for maps, contacts,
success stories, and more.
more...
Tax
Incentive Guide for Businesses in the Renewal Communities,
Empowerment Zones, and Enterprise Communities - FY 2003
more...
Census
Data
Partner
Sites
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Economic Development Programs
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Renewal
Communities, Empowerment Zones and Enterprise Communities
(RC/EZ/EC) |
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Economic
Development Initiative (EDI) |
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Brownfields
Economic Development Initiative (BEDI) |
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Youthbuild |
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Rural
Housing and Economic Development (RHED) |
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Section 4 Guarantee Recovery Fund
(Section
4) |
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Mission
The Office of Economic Development (OED), under the auspices of
the Assistant Secretary for Community Planning and Development,
is guided by the basic principle that government can help to create
an environment that encourages innovation, rewards risk-taking and
promotes equal opportunity. OED recognizes the extraordinarily diverse
range of economic and community development needs among the nation's
individual communities, which may range from job retention and creation
priorities, to new investments in public facilities and infrastructure
and the development of affordable housing.
Partnership
The
Office is committed to building new public-private sector partnerships
to address pressing economic development needs, by fostering increased
collaboration between the private development sector, local and
state governments and national and community-based not-for-profit
organizations. OED works with the public and private sectors, as
well as not-for-profit organizations, to provide financial and technical
assistance to local communities to develop and implement their own
economic development and community revitalization strategies. In
an effort to lend greater weight to local economic development priorities,
the Office has adopted a streamlined process for the approval of
requests for assistance, moving significant decision-making authority
closer to communities in need, through our Community Planning and
Development field offices.
OED works to continually expand its outreach to communities and
clients that may be unfamiliar with the financial and technical
assistance that is available to help local communities realize their
vision and goals for the new economy. In every region of the United
States, an Economic Development Specialist works closely with state
and local governments and the private and not-for-profit sectors,
providing hands-on assistance and guidance in helping to make local
economic development plans a reality.
Public
Trust
Equally important to the OED mission is ensuring the proper and
prudent investment of HUD's economic development resources to guard
against waste, fraud and abuse. In exercising its public trust responsibilities,
the Office is dedicated to a fully transparent and competitive process
in the award of economic development funds. OED also closely monitors
economic development projects receiving assistance and provides
on-going technical assistance to recipients to ensure the integrity
and success of the investment of federal economic development funds.
Sustainable
Communities
OED
seeks to encourage and support comprehensive approaches to community
and economic development that emphasize local initiatives, private
sector opportunities and self-sufficiency. The Office's core economic
development programs are designed to serve as a catalyst in spurring
new private sector investment and job creation in communities struggling
to secure the benefits of the new economy. OED programs support
sustainable economic development strategies that leverage investments
from other public and private sources in order to ensure the long-term
viability of local economic development efforts. The Office of Economic
Development views economic development as a means to an end, working
to achieve demonstrable results through the strategic investment
of federal economic development resources and helping to increase
private enterprise and individual opportunity in every community.
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