[Congressional Record Volume 155, Number 169 (Monday, November 16, 2009)]
[Senate]
[Page S11389]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mrs. BOXER (for herself, Mr. Inhofe, Mr. Baucus, Mr. 
        Voinovich, Mr. Merkley, and Mr. Vitter):
  S. 2778. A bill to amend the Public Works and Economic Development 
Act of 1965 to reauthorize that Act, and for other purposes; to the 
Committee on Environment and Public Works.
  Mr. INHOFE. Mr. President, today I am joining some of my colleagues 
from the Environment and Public Works Committee in introducing a bill 
to reauthorize the Economic Development Administration, EDA. EDA works 
with partners in economically distressed communities to create wealth 
and minimize poverty by promoting favorable business environments to 
attract private investment and encourage long-term economic growth.
  I have long been a strong supporter of EDA. I believe the agency does 
an outstanding job of providing relatively small grants that help 
secure significant amounts of private investment in distressed 
communities across the country. Contrary to what some people would say, 
the government itself does not--frankly, cannot--expand the economy and 
create long-term jobs. That is the role of the private sector.
  What the government can do, however, is help provide the right 
conditions for private sector investments to flourish. EDA does this in 
a myriad of ways, but primarily through infrastructure investments. I 
only wish more of the so-called ``stimulus'' bill enacted earlier this 
year had been dedicated to programs like EDA that are truly successful 
at spurring economic development.
  Unlike the majority of the spending in the so-called ``stimulus'' 
bill, EDA investments actually provide economic benefits. In fact, 
studies show that EDA uses federal dollars efficiently and effectively, 
creating and retaining long-term jobs at an average cost that is among 
the lowest in government.
  In my home State of Oklahoma, for example, EDA has worked long and 
hard with many communities in need to bring in private capital 
investment and jobs. Durant, Clinton, Tulsa, Oklahoma City, Seminole, 
Elk City, Muskogee, Woodward, Shawnee, Claremore, Miami and Elgin are 
just some of the Oklahoma communities that have made good use of EDA 
assistance. In fact, over the past seven years, EDA grants awarded in 
my home state have resulted in more than 9,000 jobs being created. With 
an investment of about $33 million, we have leveraged another 32.7 
million in State and local dollars and more than 625 million in private 
sector dollars. I would call that a wonderful success story.
  Authorization of FDA's programs expired on September 30, 2008. I had 
introduced a reauthorization bill in July, 2008, and the EPW Committee 
reported a bipartisan bill in September 2008. Unfortunately the bill 
was not enacted. I again introduced my own reauthorization bill in 
February of this year. Today I am happy to join my colleagues in 
introducing a similar bill that I hope will be approved by the 
Committee and the full Senate in the very near future. Particularly in 
these difficult economic times, we should be doing all we can to ensure 
the continuation of successful economic development programs, and EDA 
reauthorization is an important step.

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