Community Economic Development (CED) Fact Sheet
What We Do
The Community Economic Development (CED) program is a discretionary grant program that improves the economic self-sufficiency of people with low incomes and revitalizes underserved communities by creating and expanding businesses and job opportunities in areas with high unemployment and poverty rates. Seventy-five percent of all CED-funded jobs must be filled by individuals with low incomes, and employers are required to provide critical wraparound support services to help remove barriers to long-term employment.
Who We Serve
CED serves individuals with low incomes residing in or near communities with high unemployment and poverty rates.
2022 Highlights
Appropriated by Congress
Total awarded to 22 new grant recipients
CED projects completed
Leveraged per CED award dollar by the 28 grants that ended in FY22
Businesses expanded or created by completed projects in FY22
Jobs created for individuals with low incomes
Total full-time jobs created by completed grants
Leveraged by completed grants
Grant recipients are required to provide critical wraparound support services to employees, such as financial literacy assistance, child-care services, transportation, substance use disorder treatment, and English language education to remove barriers to maintaining long-term employment.
Focus on Energy Communities
The CED program supports efforts to revitalize energy communities, and in FY22, CED awarded six grants to projects in energy communities located in or around coal, oil, gas, or power plants. As of October 2022, there were 17 active CED projects serving energy communities, totaling over $12.6M.
Community Economic Development Program
Division of Community Discretionary and Demonstration Programs
Office of Community Services