Washington, DC – The U.S. Department of Commerce’s Economic Development Administration (EDA) awarded $30 million in CARES Act funding to support a coalition of organizations to establish and operate a nationwide Economic Recovery Corps program. This new initiative has the potential to shift the practice of economic development nationwide in an unprecedented manner — by centering the concerns of under-resourced regions while simultaneously investing in a cohort of diverse practitioners and leaders equipped with the skills necessary to usher in a new era of economic prosperity that is equitable, sustainable, and inclusive. The International Economic Development Council (IEDC) and its partners are seeking to place up to 65 Economic Recovery Corps (ERC) Fellows within partnering organizations to activate economic development projects or plans that generate new practices and paradigms for equitable and inclusive change.

The ERC was created to address long-standing economic issues in America that surfaced during the COVID-19 pandemic, particularly for historically underserved populations and communities, that led to vastly different outcomes that continue to impact recovery efforts. Guided by the EDA’s investment priorities of equity, recovery, and resilience, the ERC will ensure that all types of communities have the capacity and resources needed to effectively engage in economic development work.

The Economic Recovery Corps program will accelerate recovery from the COVID-19 pandemic in distressed areas by connecting host organizations with highly-trained early- to mid-career professionals (Fellows) from diverse backgrounds and disciplines to build stronger, more resilient, equitable economies. Fellows will be based in the host organization’s community or region and will provide dedicated technical assistance, planning, and capacity-building support to the host organization. In addition, the Fellow will help identify and advance innovative, locally-driven economic development initiatives, enabling host organizations and communities to better access funding opportunities.

The program officially launches with the opening of the application cycle for organizations interested in hosting a full-time fellow for 2.5 years (30 months). There is no cost to host a fellow, as the ERC will provide compensation directly to fellows. Host organizations will have until June 30, 2023, to submit their expression of interest and initiate the application process. Fellow applications will open in mid-June and run through mid-August. Host placements will finalize in December 2023, with fellows beginning work with their communities starting in January 2024 and ending in June 2026.

“Fellows will serve as a powerful resource for organizations looking to drive sustainable economic growth, revitalize their community, and build long-term resilience,” said IEDC President & CEO Nathan Ohle. “These talented, passionate Fellows will help to drive more equitable economic outcomes that will bring a brighter future and be felt for generations to come.”

Prospective host organizations should be collaborative and poised to implement an economic development strategy, project, or plan with added support and expertise from an ERC fellow. Hosts will reflect the entire community and economic development field spectrum, from city and county government to regional coalitions, economic development organizations, economic development districts (EDDs), and entrepreneurial technical assistance providers.

“The Economic Recovery Corps Fellowship Program is not just an opportunity for vibrant, early to mid-career economic developers to gain valuable professional experience and create tangible, lasting change in the communities they serve; it’s a chance for organizations to leverage fresh perspectives and skill sets to drive short- and long-term place-based economic development in distressed communities around the country,” added Assistant U.S. Secretary of Commerce for Economic Development Alejandra Y. Castillo. “A critical investment in our shared future as we work together to invest in America and build a more just, equitable, and sustainable economy for all.”

IEDC’s six national economic development partner organizations include the Center on Rural Innovation (CORI), International City/County Management Association (ICMA), National Association of Counties Research Foundation (NACo RF), National Association of Development Organizations Research Foundation (NADO RF), National League of Cities Institute (NLCI), and RAIN Catalysts, each of whom will expand the reach of the program, lend their expertise to host and fellow program participants, and impart the lessons learned from ERC to the economic development community at large.

Interested in participating in the Economic Recovery Corps program as a host organization? Submit an expression of interest at www.iedconline.org/ERC by June 30, 2023, and attend an upcoming program webinar for interested hosts. ERC Fellow applications will open in mid-June, with additional details on the process and criteria to be announced soon.

Learn more about the Economic Recovery Corps fellowship program by visiting www.iedconline.org/ERC. Stay up to date on the ERC’s happenings by signing up for updates at www.iedconline.org/ERC_Updates.

About IEDC

The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With more than 4,300 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities by creating, retaining, and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members engage in the full range of economic development practices. Given the breadth of economic development work, our members are employed in various settings, including local, state, provincial, and federal governments, public-private partnerships, chambers of commerce, universities, and a variety of other institutions. When we succeed, our members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions. Learn more at www.iedconline.org.

About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.