The following is a selection of recent announcements gleaned from various federal sources and colleagues, and is provided to EDA’s Economic Development Integrators to increase our awareness of complementary resources for economic development. Special thanks to ETA and other federal partners for sharing content included below.
- Funding & Resource Announcements
- Public Meetings, Events and Training
- Advisory Committee on Veterans’ Employment, Training and Employer Outreach (ACVETEO) to Hold Open Meeting on September 13
- America’s Workforce: Improving Outcomes for Workers and Employers (October 4 – 6); Federal Reserve Organizers Announce New Speakers
- More Upcoming Economic Development Conferences
- Also of Interest
Small Business Administration Awards Grants to 21 State and Local Economic Development Entities, SBDCs, and Universities to Support R&D Commercialization and Small Business Innovation
The U.S. Small Business Administration has granted up to $125,000 awards in FY 2017 to 16 Federal and State Technology (FAST) Partnership Program recipients including state and local economic development entities, small business development centers, colleges and universities and up to $200,000 awards to five Small Business Technology Development Centers (SBTDCs) that provide support to innovative, technology-driven small businesses.
FAST is designed to stimulate economic development with outreach and technical assistance to science and technology-driven small businesses, with a particular emphasis on fostering participation from women-owned and socially and economically disadvantaged firms, helping them to compete in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs. Click for the full list of awardees.
Advisory Committee on Veterans’ Employment, Training and Employer Outreach (ACVETEO) to Hold Open Meeting on September 13
The Advisory Committee on Veterans’ Employment, Training and Employer Outreach (ACVETEO) will meet on Wednesday, September 13, 2017 beginning at 9:30 a.m. and ending at approximately 4:00 p.m. (EST. The meeting will take place at the U.S. Department of Labor, Frances Perkins Building, 200 Constitution Avenue NW., Washington, DC 20210, Conference Room N-5437 A & B. Members of the public are encouraged to arrive early to allow for security clearance into the Frances Perkins Building. Full background / attendance protocols
America’s Workforce: Improving Outcomes for Workers and Employers (October 4 – 6); Federal Reserve Organizers Announce New Speakers
Our country can reach its economic potential only through strong alignment between employer needs and a skilled workforce. We invite you to join a national conversation on this topic by attending Investing in America’s Workforce: Improving Outcomes for Workers and Employers on October 4–6 in Austin, Texas. Space is limited so register today!
This national conference aims to connect businesses, government agencies, nonprofits, academics, financial institutions, and philanthropic organizations to:
- Reframe workforce development efforts as investments, not just social services
- Attract new resources and leverage existing funding sources
- Improve economic mobility and impact for workers.
Featured speakers include:
- Angela Glover Blackwell, chief executive officer of PolicyLink
- Mario Lozoya, director of government relations and external affairs at Toyota Motor Manufacturing, Texas Inc.
- Eduardo Padrón, president of Miami Dade College.
Visit the conference webpage to see more speakers, the agenda, and hotel accommodations. We hope to see you in Austin!
- NADO Annual Training Conference (September 9-12) Anchorage, AK
- SSTI Annual Conference (September 13 – 15), Washington, DC
- UEDA Annual Summit (October 1 – 4), Long Beach, CA
EDA’s Revolving Loan Program: Helping Entrepreneurs Achieve the American Dream of Business Ownership
During American Dream Week which conclude on August 4, the U.S Department of Commerce highlighted the Revolving Loan Fund administered by its Economic Development Administration.
Obtaining the capital needed to start or grow a business can often be an impediment to entrepreneurs looking to achieve the American Dream of business ownership.
The U.S. Economic Development Administration (EDA) has worked to bridge this capital gap through its Revolving Loan Fund (RLF) program, which provides lending to small businesses that are unable to borrow from commercial banks.
The RLF program has made more than 37,500 loans to American small businesses and has leveraged more than $16 billion non-RLF dollars. RLF recipients report that the program has contributed to creating or retaining more than 662,000 jobs.
Today, there are 520 EDA-funded RLFs operating nationwide with a total of $267 million available for lending.
One business owner whose American Dream is coming true with the help of the EDA RLF program is Ann Ryan, Founder and CEO of Beachy Cream Ice Cream in Santa Monica, California.
Due to high demand, the organic ice cream brand — which started off in farmer’s markets and a small store front — needed to increase production capacity, but lacked the capital to do so.
In 2014, the company received a $95,000 RLF investment that helped them secure a 13,000 square foot manufacturing facility that allowed them to increase production and meet demand.
“The RLF loan we received provided valuable capital for Beachy Cream’s move into our new leased space in Long Beach so that we could expand our ice cream production capabilities,” said Ryan.
In expanding their business, Beachy Cream is a modern example of the American Dream.
More information on the program, including where to find an RLF grantee by state and other RLF success stories can be found on EDA’s Revolving Loan Fund program page.
The U.S. Department of Labor announced $80 million in grants will be awarded to YouthBuild, a pre-apprenticeship program for at-risk individuals ages 16-to-24.
“There are pathways to successful careers outside of traditional education models,” said U.S. Secretary of Labor Alexander Acosta. “There are 6.2 million open jobs in the U.S., including 228,000 in construction, and 388,000 in manufacturing. By partnering with local community colleges and nonprofits, we can empower America’s young people with the skills to succeed in the good-paying jobs of today and of the future.”
YouthBuild is a recognized pre-apprenticeship program that helps at-risk youth complete high school or state equivalency degree programs, earn industry-recognized certifications for in-demand occupations, and undergo training to build housing for low-income or homeless individuals and families in their communities.
The grants announced today range from approximately $650,000 to $1.1 million each, and will help fund 77 YouthBuild programs.
YouthBuild has a network of 260 urban and rural YouthBuild programs in 46 states. It partners with the Department of Labor and is sponsored and managed by local nonprofits, community colleges, and public agencies.