Congress Passes Funding Bill: ED Programs Funded at Historic Levels
On Friday, March 23, 2018, President Trump signed a $1.3 trillion spending bill into law. With many thanks to the policy team at IEDC and other economic development allies, OEDA is able to share positive news. Several key economic development programs, initially slated for large cuts and/or elimination in the administration’s budget, not only survived, but received near historic funding. Highlights related to the funding of key economic development programs include:
- EDA – received roughly $302 million for fiscal 2018; about $26 million above fiscal 2017
- MEP – received $140 million; $10 million above fiscal 2017
- CDBG – received roughly $3.3 billion; $365 million about fiscal 2017
- TIGER – received $1.5 billion; $1 billion above fiscal 2017
- Rural Business-Cooperative Service – received roughly $77 million; about $12 million above fiscal 2017
- ETA apprenticeship opportunities – received $145 million; $50 million above fiscal 2017
- MBDA – received $39 million; $5 million over fiscal 2017
- ARC – received $155 million; $3 million over fiscal 2017
- Denali Commission – received $30 million; $15 million over fiscal 2017
- DRA – received $25 million; level with fiscal 2017
- Northern Border Regional Commission – received $15 million; $5 million over fiscal 2017
How are these increases possible? Congress voted earlier this year to do away with discretionary spending caps for the next two years and increased budgetary authority for defense and non-defense spending by hundreds of billions of dollars. While Congress has acted on this new authority, many policy experts are cautioning that such spending levels are not sustainable long term and economic developers will need to remain vigilant for future budget “corrections” that could cut funding or eliminate programs.
The USDA is seeking new technology and/or creative product ideas from grass roots innovators! Got a great idea? The USDA may be interested in funding the research and development of your concept! Ohio State Extension is partnering with the USDA to promote the accessibility and availability of Small Business Innovation Research (SBIR) grants. OSU Extension will be offering two (2) workshops, one in Northeast Ohio (Lorain County Community College on June 19) and one in Southwest Ohio (OSU Lima Campus) to orient interested innovators, researchers, and practitioners to this grant opportunity and the grant application process. Registration is open!read more
The Ohio Economic Development Association’s annual excellence awards program recognizes the achievements of individuals and organizations in Ohio in the areas of economic and workforce development. Submit your nominations today and have excellence in your community recognized state-wide!
A panel of judges will assess the nominations, determine finalists, and select a winner for each of the categories noted below. Award winners will be announced at a ceremony during the OEDA Annual Summit to be held October 16-18 at The Renaissance Columbus Downtown. All award finalists and winners will be notified prior to the Annual Summit so as to make appropriate arrangements.read more
Register Today for the Remaining 2018 Ohio Economic Development Institute Courses
OEDI is presented in partnership the Ohio Economic Development Association, JobsOhio, and the Ohio University Voinovich School.
Next Up for OEDI’s courses: Finance & Incentives July 19-20 and Business Retention & Expansion September 20- 21! Be sure to register early for these in-demand programs, as space is limited!read more