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Economic Development (51 - 60 of 3,037 items)
Maritime Infrastructure: Key Issues Related to Commercial Activity in the U.S. Arctic over the Next Decade
GAO-14-299: Published: Mar 19, 2014. Publicly Released: Apr 18, 2014.
Commercial U.S. Arctic maritime activities are expected to be limited for the next 10 years, according to industry representatives, due to a variety of factors. Interviews with industry representatives highlighted a variety of general challenges related to operating in the Arctic, such as geography, extreme weather, and hard-to-predict ice floes. Industry-specific factors were also cited as contri...
Small Business Administration: Actions Needed to Ensure Planned Improvements Address Key Requirements of the Development Company (504) Loan Program
GAO-14-233: Published: Mar 6, 2014. Publicly Released: Apr 7, 2014.
The Small Business Administration (SBA) has established lending standards to protect against default and has measured program performance, but lacks guidance on determining the number of jobs supported by 504 program-funded projects. SBA's guidance for certified development companies (CDC)—nonprofits that provide funding to small businesses to promote local economic development in their communit...
Manufacturing Extension Partnership: Most Federal Spending Directly Supports Work with Manufacturers, but Distribution Could Be Improved
GAO-14-317: Published: Mar 27, 2014. Publicly Released: Mar 27, 2014.
Of the approximately $608 million spent by the Department of Commerce's (Commerce) National Institute of Standards and Technology (NIST) in fiscal years 2009 through 2013 on the Manufacturing Extension Partnership (MEP) program, NIST used most of the funds to directly support MEP centers. Specifically, NIST spent about $495 million on awards to centers and spent the rest on contracts, staff, agenc...
Extreme Weather Events: Limiting Federal Fiscal Exposure and Increasing the Nation's Resilience
GAO-14-364T: Published: Feb 12, 2014. Publicly Released: Feb 12, 2014.
The federal government has opportunities to limit its exposure and increase the nation's resilience to extreme weather events. Since 1980, the U.S. has experienced 151 weather disasters with damages exceeding 1 billion dollars each. This testimony focuses on 4 areas where the government could limit its fiscal exposure.Property and crop insurance. The financial risks from two federal insurance prog...
Economic Development Administration: Documentation of Award Selection Decisions Could Be Improved
GAO-14-131: Published: Feb 6, 2014. Publicly Released: Feb 6, 2014.
The Economic Development Administration (EDA) implemented a new procedure in fiscal year 2012 that requires its regional offices to complete a standard template to document the results of committee meetings in which proposed projects are discussed and potentially recommended for funding. However, GAO found that for the Public Works and Economic Development (Public Works) program and the Economic A...
Entrepreneurial Assistance: Opportunities Exist to Improve Collaboration and Performance Management for Financial Assistance Programs
GAO-14-335T: Published: Feb 6, 2014. Publicly Released: Feb 6, 2014.
Federal programs GAO reviewed that offer financial support to entrepreneurs, such as grants and loans, are fragmented and overlap based on the type of support they are authorized to offer and the type of entrepreneur they are authorized to serve. The Departments of Commerce (Commerce), Housing and Urban Development (HUD), and Agriculture (USDA); the Small Business Administration (SBA); and the Off...
Recovery Act: Grant Implementation Experiences Offer Lessons for Accountability and Transparency
GAO-14-219: Published: Jan 24, 2014. Publicly Released: Jan 24, 2014.
Federal, state, and local officials responsible for implementing grants funded by the American Recovery and Reinvestment Act of 2009 (Recovery Act) as well as the external oversight community reported lessons learned regarding both useful practices and challenges to ensuring accountability. Faced with aggressive timelines for distributing billions of dollars, they adopted a number of practices to...
Flood Insurance: Strategies for Increasing Private Sector Involvement
GAO-14-127: Published: Jan 22, 2014. Publicly Released: Jan 22, 2014.
According to stakeholders with whom GAO spoke, several conditions must be present to increase private sector involvement in the sale of flood insurance. First, insurers need to be able to accurately assess risk to determine premium rates. For example, stakeholders told GAO that access to National Flood Insurance Program (NFIP) policy and claims data and upcoming improvements in private sector comp...
National Flood Insurance Program: Progress Made on Contract Management but Monitoring and Reporting Could Be Improved
GAO-14-160: Published: Jan 15, 2014. Publicly Released: Jan 15, 2014.
The Federal Emergency Management Agency (FEMA) has made progress in improving its processes for monitoring NFIP contracts since GAO last reported on these issues in 2008 and 2011. For example, GAO recommended in 2011 that FEMA complete the development and implementation of its revised acquisition process to be consistent with a Department of Homeland Security (DHS) directive. FEMA updated its cont...
Hurricane Sandy Relief: Improved Guidance on Designing Internal Control Plans Could Enhance Oversight of Disaster Funding
GAO-14-58: Published: Nov 26, 2013. Publicly Released: Nov 26, 2013.
In response to the Disaster Relief Appropriations Act, 2013, agencies prepared Hurricane Sandy disaster relief internal control plans based on Office of Management and Budget (OMB) guidance but did not consistently apply the guidance in preparing these plans. OMB Memorandum M-13-07 (M-13-07), Accountability for Funds Provided by the Disaster Relief Appropriations Act, directed federal agencies to...