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Simple English definitions for legal terms
EDA
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A quick definition of EDA:
Term: EDA
Definition: EDA stands for Economic Development Administration. It is an organization that helps create jobs, improve communities, and promote economic growth in different regions of the United States. They provide funding and resources to businesses, governments, and non-profit organizations to support their efforts in developing and expanding their local economies.
A more thorough explanation:
Definition: EDA stands for Economic Development Administration. It is a federal agency in the United States that provides grants and technical assistance to communities and businesses to support economic growth and job creation.
Example: The EDA provided a grant to a small town in rural America to build a new industrial park. This helped attract new businesses to the area and created jobs for local residents.
Explanation: The example illustrates how the EDA supports economic development by providing funding for infrastructure projects that can attract new businesses and create jobs. This helps to stimulate economic growth in communities that may be struggling with high unemployment or a lack of investment.