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EDA Tools for Your Region

EDA Tools for Your Region. Mid-Columbia Economic Development District. Developed with EDA Funding. Measuring Distress Tool: Provides unemployment and per capita income data to determine if a project meets thresholds for EDA grant funding

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EDA Tools for Your Region

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  1. EDA Tools for Your Region Mid-Columbia Economic Development District

  2. Developed with EDA Funding • Measuring Distress Tool: Provides unemployment and per capita income data to determine if a project meets thresholds for EDA grant funding • Project Evaluation Tool: Offers qualitative and quantitative analysis of a project to estimate success • Identifying Regional Strengths: Multiple tools and studies, particularly focused on innovation and cluster strategies

  3. Achieving Our Vision • MCEDD Goal 4- Increase region’s access to resources for economic development initiatives • Provide a regional clearinghouse for regional statistics and grant resources

  4. Measuring Distress Tool • Web tool drawing from existing databases. Performs calculations automatically for 24 month unemployment and per capita income • Resolves issues regarding difficult to obtain data and consistent calculations across regions

  5. Measuring Distress Tool • Accessible to anyone online: • http://statsamerica.org/distress

  6. EDA Project Evaluation Tool • Quantitative Analysis Measuring: • Regional and national forecast for the industry affected • Quality of jobs • Fit with region’s industrial structure • Innovation and Research focus • Unemployment and Employment rates for the County • Limitations • Analysis can only be completed as it affects one industry • Analysis (and forecast) can only be accessed for one County at a time, not a region • Provides an average score, but does not index that score

  7. EDA Project Evaluation Tool • Qualitative Analysis- Incorporates Investment Policy Guidelines from EDA • Strong organizational leadership • Evidence of market-based strategy • Advancing productivity, innovation and entrepreneurship • Anticipates economic changes, diversifies regional economy • High Degree of commitment with matching funds, unified support by elected officials, and strong cooperation with business

  8. EDA Project Evaluation Tool • Potential Applications of the Tool • MCEDD: Evaluate projects and assist in establishing regional priorities for our Comprehensive Economic Development Strategy • Economic Development Practitioners: Utilize in deciding among competing projects • Project Proponents: Determine likelihood of success. Analyze if EDA grant should be pursued. • Tool can be downloaded at: http://www.eda.gov/Research/ToolsOfTrade.xml

  9. Innovation in American Regions • Available at: http://statsamerica.org/innovation • Incorporates the following resources: • Innovation Index • Occupational and Industry Clusters • Unlocking Regional Competitiveness Reports

  10. Thank you! • Informational Sheet Available. Contact us at 541-296-2266.

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