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FY 2008 EDA Annual Report

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FY 2008 EDA Annual Report Economic Development Administration Fiscal Year 2008 Annual Report U.S. DEPARTMENT OF COMMERCE Economic Development Administration - FY 2008 Annual Report Contents Letters of Transmittal from Secretary of Commerce to United States Congress 3 Statement from Chief Financial Officer and Chief Administrative Officer 4 Mission Statement 5 EDA Headquarters and Regional Offices 6 Statement of Appropriations for FY 2008 7 I. State by State Investment Information Summary of EDA Approved Investments by State by Program 8 Approved Investments by State by Program - FY 2008 9 FY 2008 Investments Using Department of Defense Reimbursable Funds, by State 28 FY 2008 Investments Funded from First Supplemental Disaster Relief Appropriation, by State 29 II. EDA Reauthorization Act of 2004 Reporting Requirements Projected Private Sector Investment Ratio - FY 2008 Approvals 30 Realized Private Sector Investment Reported for FY 2002 Approvals 36 Realized Private Sector Investment Reported for FY 2005 Approvals 42 EDA Leveraging Goals for Private Sector in FY 2008 45 U.S. Department of Commerce 2 The President of the Senate Speaker of the House of Representatives Dear Mr. President and Madam Speaker: I am pleased to submit the annual report on the activities of the Economic Development Administration, U.S. Department of Commerce, for Fiscal Year 2008, in compliance with Section 603 of the Public Works and Economic Development Act of 1965, as amended. Sincerely, Gary Locke U.S. Department of Commerce 3 Economic Development Administration - FY 2008 Annual Report Statement from the Chief Financial Officer and Chief Administrative Officer Economic Development Administration I am pleased to report to Congress the achievements of the U.S. Department of Commerce’s Economic Development Administration (EDA) on behalf of the American people during FY 2008. EDA’s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. The agency does this through grants to states, local government entities, and eligible non-profits to create jobs and generate private investment. Our investments assist communities to develop the conditions necessary for job creation, often in the midst of economic hardship or adjustment. EDA’s investments have two major goals: attracting private capital investment and creating higher-skill, higher-wage jobs. In FY 2008, including reimbursables and disaster supplemental funds, EDA awarded investments that totaled approximately $302 million. Of this amount, approximately $220 million funded construction projects that are expected to create about 59,000 jobs and generate nearly $7 billion in private investment, according to grantee estimates at the time of the award. This yields an average cost of $3,697 per job and a private capital investment to taxpayer dollar ratio of 31 to 1. EDA’s strong results are a product of our focus on four funding policy priorities that support: • Collaborative, long-term, regional approaches to economic development • Innovation • Competitiveness • Investment strategies to connect regional economies with worldwide markets. In this annual report, we are proud to outline our achievements during FY 2008 and to mark EDA’s 43rd year of assisting America’s economically distressed regions to create jobs and increase economic opportunity. Sincerely, Sandra R. Walters Chief Financial Officer Chief Administrative Officer U.S. Department of Commerce 4 Economic Development Administration - FY 2008 Annual Report Economic Development Administration Mission Statement Mission Statement To lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. U.S. Department of Commerce 5 Economic Development Administration - FY 2008 Annual Report EDA Headquarters and Regional Offices Headquarters Office 4 Sandra R. Walters, Chief Financial Officer and Chief Administrative Officer U.S. Department of Commerce 1401 Constitution Avenue, N.W., Room 7800 Washington, DC 20230 Telephone: 202-482-5081 Fax: 202-273-4781 Regional Offices PHILADELPHIA REGION (PRO) Willie C. Taylor, Regional Director Curtis Center, Suite 140 South Independence Square West Philadelphia, PA 19106 Telephone: 215-597-4603 Fax: 215-597-1063 Serves: Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey New York, Pennsylvania, Puerto Rico, Rhode Island, Vermont, Virginia, Virgin Islands, West Virginia ATLANTA REGION (ATRO) H. Philip Paradice, Regional Director 401 West Peachtree Street, N.W., Suite 1820 Atlanta, GA 30308-3510 Telephone: 404-730-3002 Fax: 404-730-3025 Serves: Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee CHICAGO REGION (CRO) C. Robert Sawyer, Regional Director 111 North Canal Street, Suite 855 Chicago, IL 60606-7204 Telephone: 312-353-8143 Fax: 312-353-8575 Serves: Illinois, Indiana, Michigan, Minnesota, Ohio, Wisconsin, Scott County and Muscatine County in Iowa AUSTIN REGION (AURO) Pedro R. Garza, Regional Director 504 Lavaca Street, Suite 1100 Austin, TX 78701-2858 Telephone: 512-381-8144 Fax: 512-381-8177 Serves: Arkansas, Louisiana, New Mexico, Oklahoma, Texas DENVER REGION (DRO) Robert E. Olson, Regional Director 410 17th Street, Suite 250 Denver, CO 80202 Telephone: 303-844-4715 Fax: 303-844-3968 Serves: Colorado, Iowa (except Scott County and Muscatine County), Kansas, Missouri, Montana, Nebraska, North Dakota, South Dakota, Utah, Wyoming SEATTLE REGION (SRO) A. Leonard Smith, Regional Director 915 Second Avenue, Suite 1890 Seattle, WA 98174 Telephone: 206-220-7660 Fax: 206-220-7669 Serves: Alaska, American Samoa, Arizona, California, the Commonwealth of the Northern Mariana Islands, Guam, Hawaii, Idaho, Nevada, Oregon, Washington, the Federated States of Micronesia, the Republic of the Marshall Islands, Republic of Palau U.S. Department of Commerce 6 Economic Development Administration - FY 2008 Annual Report Statement of Appropriations Fiscal Year 2008 (in Thousands of Dollars) EDA Program Category Appropriations Fiscal Year 2008 Public Works and Economic Development 146,430 Economic Adjustment Assistance 42,300 Planning 27,000 Technical Assistance 9,400 Research and Evaluation 470 Trade Adjustment Assistance for Firms 14,100 Global Climate Change Mitigation Incentive Fund 9,400 Economic Development Assistance Program Subtotal 249,100 Supplemental Appropriations Act of June 30, 2008 100,000 Consolidated Security Disaster Assistance and Continuing Appropriations Act, 2009 400,000 Disaster Supplemental Subtotal * 500,000 Salaries and Expenses 30,832 TOTAL 779,932 * Funds to remain available until expended. U.S. Department of Commerce 7 Economic Development Administration - FY 2008 Annual Report Fiscal Year End September 30, 2008 Summary of EDA Approved Investments by State by Program ($000) Public Technical Planning Economic Global Research State Works Assistance Grants Adjustment Climate Chg Grants Totals State # Amt # Amt # Amt # Amt # Amt # Amt # Amt Alabama 2 2,427 1 166 11 1,344 0 0 0 0 0 0 14 3,936 Alaska 6 6,618 2 145 9 517 7 2,825 0 0 0 0 24 10,105 Arizona 3 6,553 2 107 8 446 4 670 0 0 0 0 17 7,776 Arkansas 6 5,440 3 295 8 1,200 0 0 0 147 0 0 17 7,082 California 7 15,471 2 195 9 543 12 3,529 0 0 1 206 31 19,944 Colorado 1 2,500 2 55 6 282 0 0 0 0 0 0 9 2,838 Connecticut 0 0 1 100 0 0 2 175 0 0 0 0 3 275 District of Columbia 1 2,000 0 0 0 0 0 0 0 0 0 0 1 2,000 Florida 2 1,213 2 171 12 1,352 2 1,127 0 331 0 0 18 4,195 Georgia 7 6,174 3 267 8 796 5 831 0 0 0 0 23 8,069 Guam 1 1,200 0 0 0 0 1 150 0 0 0 0 2 1,350 Hawaii 1 1,500 1 221 1 80 3 433 0 0 0 0 6 2,234 Idaho 1 1,935 1 140 8 505 4 405 0 0 0 0 14 2,985 Illinois 3 4,220 2 398 13 964 1 15 0 0 0 0 19 5,598 Indiana 3 4,225 1 170 5 674 0 0 0 0 0 0 9 5,069 Iowa 1 500 3 165 15 755 2 1,250 0 0 0 0 21 2,670 Kansas 3 4,202 3 310 4 207 1 2,301 0 0 0 0 11 7,019 Kentucky 2 1,351 1 166 1 742 5 1,697 0 729 0 0 9 4,685 Louisiana 7 7,500 3 396 1 304 7 4,660 0 0 0 0 18 12,859 Maine 1 750 2 135 7 434 0 0 0 0 0 0 10 1,319 Maryland 0 0 3 245 5 500 0 0 0 0 0 0 8 745 Massachusetts 4 4,500 2 185 9 756 0 0 0 0 0 0 15 5,440 Michigan 4 5,449 2 320 8 878 2 3,125 0 1,618 1 250 17 11,640 Minnesota 4 3,788 1 150 8 751 0 0 0 0 0 0 13 4,689 Mississippi 2 2,700 2 224 6 424 3 1,992 0 0 0 0 13 5,340 Missouri 1 1,000 2 250 19 922 0 0 0 0 0 0 22 2,172 Montana 3 2,534 1 80 17 756 2 200 0 0 0 0 23 3,570 Multi Jurisdictional 0 0 26 16,013 0 0 1 783 0 0 4 400 31 17,196 Nebraska 2 1,879 4 265 8 443 0 0 0 0 0 0 14 2,586 Nevada 3 2,026 1 140 1 77 0 0 0 0 0 0 5 2,243 New Hampshire 0 0 0 0 4 275 3 1,534 0 0 0 0 7 1,809 New Jersey 2 4,000 1 100 1 60 0 0 0 0 0 0 4 4,160 New Mexico 6 5,518 1 98 2 150 2 230 0 0 0 0 11 5,995 New York 3 5,200 2 205 11 620 2 400 0 0 0 0 18 6,425 North Carolina 6 2,305 1 154 11 1,042 3 1,661 0 0 0 0 21 5,162 North Dakota 1 102 1 110 12 711 4 1,555 0 0 0 0 18 2,478 Northern Marianas 0 0 0 0 0 0 1 750 0 0 0 0 1 750 Ohio 4 3,991 2 310 0 0 3 1,838 0 0 0 0 9 6,139 Oklahoma 2 1,900 2 196 7 995 1 500 0 0 0 0 12 3,591 Oregon 3 3,119 3 222 16 889 5 2,175 0 0 0 0 27 6,405 Pennsylvania 5 4,861 3 225 8 451 2 1,450 0 500 0 0 18 7,487 Puerto Rico 1 1,800 1 125 0 0 1 300 0 0 0 0 3 2,225 Rhode Island 0 0 1 102 2 175 0 0 0 0 0 0 3 277 South Carolina 7 7,264 1 163 0 0 0 0 0 500 0 0 8 7,927 South Dakota 0 0 0 0 13 649 0 0 0 0 0 0 13 649 Tennessee 5 5,023 2 176 8 493 1 200 1 1,252 0 0 17 7,144 Texas 9 8,788 5 544 7 921 9 2,600 1 1,741 0 0 31 14,595 Utah 1 1,500 0 0 6 319 0 0 0 0 0 0 7 1,819 Vermont 0 0 0 0 1 56 0 0 0 0 0 0 1 56 Virgin Islands 1 3,500 0 0 1 52 0 0 0 0 0 0 2 3,552 Virginia 1 1,250 1 175 10 602 3 3,663 0 0 0 0 15 5,690 Washington 1 1,788 2 157 23 1,218 7 1,512 1 1,766 0 0 34 6,440 West Virginia 3 5,000 0 0 10 617 1 1,000 0 0 0 0 14 6,617 Wisconsin 3 2,388 3 344 7 850 2 550 0 0 0 0 15 4,132 Wyoming 1 966 1 110 4 189 1 50 0 815 0 0 7 2,130 Totals: 146 169,918 112 24,986 371 27,985 115 48,136 3 9,400 6 856 753 281,282 Note: Figures include prior year recoveries.
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