Denali Chamber Economic Development Proposal - Flipbook - Page 20
One of the primary functions of an EDD is to act as
a regional planning and coordination hub. Alaska is
divided into several EDDs, each encompassing a
specific geographic area. These districts bring
together local governments, businesses, nonprofit organizations, and other stakeholders to
develop comprehensive economic development plans
tailored to their region's unique needs and
aspirations. These plans serve as roadmaps for
achieving sustainable growth, focusing on areas
such as job creation, infrastructure development,
and resource utilization.
EDDs play a pivotal role in securing federal
funding and support for local projects. Through
the U.S. Economic Development Administration
(EDA), EDDs in Alaska can access grants and
resources
to
fund
critical
infrastructure
projects, business development initiatives, and
workforce training programs. These funds are
instrumental in boosting economic resilience,
particularly
in
remote
and
underserved
communities where access to capital can be limited.
Furthermore, EDDs in Alaska act as catalysts for
regional
collaboration.
By
facilitating
partnerships among public and private entities,
these
districts
encourage
innovation
and
entrepreneurship.