Economic Development Division (EDD) has as its primary goals the stimulation and diversification of American Samoa’s economy; the promotion of exports and replacement of imports with local products; and creation of new and better employment opportunities throughout the Territory. It shall be the overall function of EDD to advance the implementation of economic development policies, goals, and objectives inherent in the strengthening and expansion of the local business sector; increasing export earnings by attracting foreign capital investment in manufacturing and processing; creating economic surplus by expanding the economic contributions of tourism, fisheries, agriculture and telecommunications; and increasing the multiplier effect of every federal dollar entering the territory. The EDD assumes a very important function due to its implications on the entire territory.
Included in these efforts are the attraction of new industry and expansion of present industries in the Territory. Four basic programs are carried out to achieve these goals: small business technical assistance program; small business information assistance service program; small business financial assistance program; small business awareness and referral service program. EDD also maintains a significant role in the formulation of Territory policies, plans and strategies to meet current issues and problems related to the social, economic and environmental concerns.
Furthermore, the EDD is to enhance the economic development of the Territory by providing plans, analyses and policy recommendations on economic issues; by conducting basic research into the economy of the Territory; and by compiling, interpreting statistics on a wide range of business activities as well as other economic sectors of the Territory. The responsibility for promotion and management of the Senator Inouye Industrial Park lies within the EDD. In addition, EDD works in conjunction with the U.S. Department of Commerce, Economic Development Administration (EDA) to fund public infrastructure project to lay the groundwork for economic expansion. Moreover, EDD is responsible for administering, processing and enforcement of business licensing, regulations and laws in the Territory.