About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

GAO-11-477R 1 (2011-05-19)

handle is hein.gao/gaobaanxz0001 and id is 1 raw text is: IkGAO Amcountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 May 19, 2011 Congressional Addressees: Subject: Efficiency and Effectiveness of Fragmented Economic Development Programs Are Unclear One of the areas included in our recent report on potential duplication among federal programs was economic development.' If economic development programs are administered efficiently and effectively, they can contribute to the well-being of our nation's economy at the least cost to taxpayers. Absent a common definition for economic development, we had previously developed a list of nine activities most often associated with economic development.2 These activities include planning and developing strategies for job creation and retention, developing new markets for existing products, building infrastructure by constructing roads and sewer systems to attract industry to undeveloped areas, and establishing business incubators to provide facilities for new businesses' operations, among others. Our recent work included information on 80 economic development programs at four agencies-the Departments of Commerce (Commerce), Housing and Urban Development (HUD), Agriculture (USDA), and the Small Business Administration (SBA). This work examined (1) the potential for overlap in the design of the programs, (2) the extent to which the four agencies collaborate to achieve common goals, and (3) the extent to which the agencies have developed measures to determine the programs' effectiveness. According to the agencies, funding provided for these 80 programs in fiscal year 2010 amounted to $6.2 billion, of which about $2.9 billion was for economic development efforts, largely in the form of grants, loan guarantees, and direct loans.3 Some of these 80 programs can fund a variety of activities, including those focused on 'GAO, Opportunities to Reduce Potential Duplication in Government Programs, Save Tax Dollars, and Enhance Revenue, GAO- 11-318SP (Washington D.C.: Mar. 1, 2011). 2GAO, Rural Economic Development: More Assurance Is Needed That Grant Funding Information Is Accurately Reported, GAO-06-294 (Washington D.C.: Feb. 24, 2006), 7. 3 li March 2011, we reported that the funding provided for these 80 programs in fiscal year 2010 amounted to $6.5 billion, of which about $3.2 billion was for economic development efforts, according to the agencies (See GAO-11-318SP and GAO, List of Selected Federal Programs That Have Similar or Overlapping Objectives, GAO-11- 474R (Washington, D.C.: Mar. 18, 2011). We are reporting different funding figures in this product because SBA revised the original information they provided to us in December 2010. GAO-11-477R Economic Development Programs

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most