This EDA investment supports the international economic development council (iedc) with providing technical assistance via a team of staff and economic development professionals to either implement or…

The International Economic Development Council (IEDC) will receive $1 million under an Economic Adjustment Assistance Project Grant from the Department of Commerce's Economic Development Administration to provide technical assistance to implement an economic recovery plan for the Alabama region. IEDC staff and economic development professionals will identify vulnerabilities in the local economy and prioritize needs and strategies to spur recovery through business retention/expansion/attraction, entrepreneurship, real estate redevelopment, workforce development and other efforts. Once complete, the plan and associated tools are intended to strengthen and diversify the regional economy to attract private investment, create jobs and increase economic resiliency. The EDA's Economic Adjustment Assistance program supports regions facing adverse economic changes with technical, planning and infrastructure assistance.

This EDA investment supports the international economic development council (iedc) with providing technical assistance via a team of staff and economic development professionals to either implement or complete an economic recovery plan, with the emphasis on implementation. The plan will identify where the local community's economy is most vulnerable and then prioritize needs and strategies to spur economic recoveries in the alabama region. Strategies may include business retention, expansion, and attraction; entrepreneurial and small business development; land and planning and real estate redevelopment; neighborhood commercial revitalization; workforce development; technology-led development; strategic planning for economic recovery; economic recovery program development; economic diversification strategies; and export and supply chain strategies. Once completed, the project will provide tools for sustaining recovery to help strengthen and diversify the regional economy, which will attract private investment, create jobs, and advance economic resiliency throughout the region.