Economic development agencies provide information and resources to help companies generate new job opportunities, expand local businesses, and attract private investment and tourism. Usually, they're government agencies, although public and private partnerships are fairly common. Economic development agencies help create new local economic assets and aim to strengthen communities.
Economic development agencies offer financial and technical assistance to businesses, including revolving loans, strategic planning, research, post-disaster recovery assistance, partnership planning, export and import assistance, public infrastructure development, and more. Economic development agencies work closely with new local businesses to help them grow and become more competitive.