The Economic Development Administration's January 11, 2017 final rule establishes an overarching Regional Innovation Program framework while concentrating on Regional Innovation Strategies, or RIS. The distinction matters: the agency already awards RIS grants. Publication of the framework is not the creation of all regional innovation assistance, and it does not identify a new set of winning applicants. [2017-00116]

The final summary describes two forms of existing support: capacity-building programs helping innovators with proof of concept and commercialization, and operational assistance to organizations providing early-stage funding. Supporting such an organization is not the same as financing its investments. The final eligible-activity provisions prohibit using federal grant funds or matching shares for equity investments and exclude lending programs. [2017-00116]

The September 2016 proposal supplies the financing explanation. It defines the EDA grant rate as the share of total project cost funded with EDA money, subject to a 50 percent maximum and no minimum. The final investment-rate provision retains that ceiling. Neither document says every eligible project receives half its cost or turns a possible maximum into an entitlement. [2017-00116][2016-22286]

Matching can be cash or properly valued in-kind contributions. The final requires commitment at application, availability as needed and conditions compatible with the assistance; EDA retains discretion over documentation. It specifies February 10, 2017 effectiveness, after this coverage date. Read together, proposal and final explain one agency's program design. They establish the framework and its financing boundaries, not independent evidence that funded activities have improved regional growth. [2017-00116][2016-22286]

Source documents

  1. Regional Innovation Programhttps://www.govinfo.gov/content/pkg/FR-2017-01-11/html/2017-00116.htm
  2. Regional Innovation Programhttps://www.govinfo.gov/content/pkg/FR-2016-09-21/html/2016-22286.htm