What is the Office of Economic Adjustment?
The Office of Economic Adjustment is a Federal agency that operates within the United States of America’s Department of Justice. The Office of Economic Adjustment is responsible for assisting communities that are adversely affected by alterations in Defense programs, including base realignments or closures, base expansions and program or contract cancellations. The Office of Economic Adjustment assists these affected communities by directing and managing the Defense Economic Adjustment Program and by coordinating the involvement of other Federal Departments.
The Office of Economic Adjustment provides a community-based initiative for the assessment of economic hardships precipitated by changes in Department of Defense programs or procedures. The Office of Economic Adjustment aims to mitigate the negative externalities attached to these changes by identifying and evaluating alternative courses of action, identifying resource requirements, and assisting in the preparation of an alternative action of strategy to help communities sustain and help themselves.
Organization of the Office of Economic Adjustment:
The Office of Economic Adjustment is comprised of a full-service staff and numerous sub-departments. The staff of the Office of Economic Adjustment possesses a wide range of experience in community and economic development, real estate development, federal real property programs, land use planning, military programs and worker adjustment programs.
The Joint Land Use Study:
The Office of Economic Adjustment administers a Joint Land Use Study Program, to help encourage a cooperative land use planning system, between surrounding communities where caviling encroachment is expected and military installations looking to expand or renovate their respective buildings. In these situations, the Office of Economic Adjustment may provide technical and financial assistance to State or local governments to achieve cooperative land use and development activities near Military facilities.