14.270: Appalachia Economic Development Initiative
Alternate Name: AEDI
Overview
Program Number
14.270
Status
Inactive
Last Modified
Aug. 11, 2022
Date Posted
Aug. 11, 2022
Objective
AEDI’s goal is to increase access to capital for business lending and development in the chronically under-served and under-capitalized Appalachian region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions in areas of the Appalachian Region that suffer from a lack of capacity to support business development. The AEDI will coordinate with ARC’s economic development programs such as the ACC intermediary to identify areas within the Appalachian Region that are most in need of lending and investment capacity. The AEDI will provide funding and assistance to local rural non-profit organizations that will increase the capital and support available to businesses in under-served communities and enhance the effectiveness of economic development programs for these areas.
Type of Assistance
B - Project Grants
Applicant Eligibility
Applicants that are eligible to participate in this initiative are State community and/or economic development agencies that apply on behalf of local rural nonprofit organizations in the Appalachia Region. Applicants may serve markets other than Appalachia residents and communities, using other sources of financing.
Beneficiary Eligibility
Eligible target markets for use of AEDI funds include geographic areas and/or populations, as described below.
Geographic areas include the 420 counties in 13 states that make up the Appalachia Region, as defined by the Appalachian Regional Commission. Appalachian Regional Commission (ARC) is a federal-state partnership working to stimulate economic development. The ARC is composed of the governors of the 13 Appalachian states and a federal co-chair, who is appointed by the president. Local participation is provided through multi-county local development districts. The thirteen states that are included in the region are: Alabama, Georgia, Kentucky, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, West Virginia, and Virginia.
Additional Information
Grant Awards
Appalachia Economic Development Initiative direct grants
Grant Opportunities