Alex Padilla: “I rise to introduce the bipartisan Economic Empowerment Through Predevelopment Act. This legislation would improve…”

“I rise to introduce the bipartisan Economic Empowerment Through Predevelopment Act. This legislation would improve support for capacity building and early-stage project development activities to ensure inclusive economic growth across communities. Predevelopment activities are projects that must be completed prior to construction to advance infrastructure and development projects from concept to reality. This includes planning and design, community asset mapping, training, technical assistance, feasibility and environmental studies, demonstration projects, permitting, and organizational capacity building. This bill would enhance the Economic Development Administration's role in the initial stages of a project by authorizing the Agency to make grants and cooperative agreements for predevelopment activities and capacity building purposes. Many underserved, low-income, and rural communities simply do not have the institutions, expertise, or capacity to plan, design, coordinate, or implement new economic development initiatives. Building an inclusive economy requires policies for comprehensive economic development plans that better equip our communities to sustain and grow investments, leverage community-based assets, and diversify local economies to withstand potential disruptions.…”