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 for individuals served.
Who We Serve
CED serves individuals with low incomes residing in or near communities with high unemployment and poverty rates.
2023 Highlights
Appropriated by Congress
$18M Total awarded to 45 new grant recipients
to 18 traditional CED grant recipients
to 21 CED planning grant recipients
in supplemental funding to six existing CED social enterprise grant recipients
CED grants completed
Leveraged by the 13 grants that ended in FY23
Leveraged per CED award dollar by the 13 grants that ended in FY23
Total full-time jobs created by completed grants
Businesses expanded or created by completed projects in FY23
Jobs created for those with low incomes
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 Access
In FY23, CED launched a new grant type focused on expanding access for communities that have struggled to write a winning proposal for a traditional CED grant. CED launched a new planning grant aimed at bolstering capacity in order to plan and apply for a full CED grant. Twenty-one of these planning grants were awarded in FY23, 12 of which went to states that do not have a current CED grant or have never had a CED grant.
Community Economic Development Program
Division of Community Discretionary and Demonstration Programs
Office of Community Services