|Economic Adjustment Committee (EAC)|
Members review material during EAC committee meeting
To support the Defense Economic Adjustment Program, President George H.W. Bush established the Economic Adjustment Committee (EAC) in 1992. The EAC is composed of 22 federal departments and agencies, which have technical and financial assistance programs available to assist communities, businesses, and/or workers with responding to DoD-driven impacts. In 2005, President George W. Bush named the OEA director as executive director of EAC and OEA, responsible for providing the necessary support for the EAC.
The EAC helps coordinate federal intergovernmental assistance to local communities and thus minimize the impact of defense program changes. Specifically, the EAC:
Through September 30, 2004, the U.S. Federal government had collectively provided about $1.9 billion in assistance to local communities in response to the 1988, 1991, 1993, and 1995 BRAC rounds. This assistance supported worker placement assistance, base reuse planning and property acquisition, site improvements, demolition, and other hard construction activity.
Highlights of federal government support to local communities include:
Members of the EAC can assist local communities with loans, grants, loan guarantees, guidance, outreach, and public benefit conveyance (sponsorship for transfer of surplus federal property to eligible state and local governments for public purpose).
For more information about the coordinated federal resources OEA provides local communities, please view the following publications: