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RCED-95-251R 1 (1995-07-28)

handle is hein.gao/gaobackwu0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Resources, Community, and Economic Development Division B-262109 154845 July 28, 1995 The Honorable John R. Kasich Chairman, Committee on the Budget House of Representatives Dear Mr. Chairman: This letter presents information about assistance provided through federal programs related to economic development. As agreed with your office, we have listed federal programs from the December 1994 Catalog of Federal Domestic Assistance (CFDA) that the catalog describes by terms that might be characterized as economic development. We also provide levels of assistance for each program as stated in the CFDA and the associated broad budget accounts as reported by the Office of Management and Budget (OMB). Because there is no commonly accepted definition for economic development, we selected economic development- related terms from the CFDA field that identifies common programmatic themes. However, these terms may not identify all programs in the CFDA that could be considered economic development-related because the program information in the catalog is submitted by each agency and terms may not be used consistently. In addition, the CFDA does not include all direct federal services associated with economic development. The CFDA includes nonloan (such as grant), loan, and loan guarantee programs for which state and local governments, nonprofit groups, and individuals may apply. The CFDA lists a total of 342 economic development-related programs. The majority of these programs are administered by the Departments of Agriculture, Commerce, Health and Human Services and Housing and Urban Development and by the Small Business Administration. In addition, 13 of the 14 executive departments and many agencies and administrations have economic development programs. About three-fourths of the programs provide grants or other forms of nonloan assistance while the remainder provide loans or loan guarantees. Some programs have both a nonloan and a loan component. The purposes of the programs vary widely, from GAO/RCED-95-251R, Economic Development Programs

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