August 2 - 6, 2021

EDA announced six investments from August 2-6, 2021, totaling $11,613,300, which is matched by $2,780,755 in local investments. These investments include the following: (1) $10,900,000 in five Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects to help alleviate sudden and severe economic dislocation caused by the coronavirus that will help create 253 jobs, save 1,351 jobs, and leverage $27,100,000 in private investments; and (2) $713,300 in one Public Works project to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 23 jobs, save 201 jobs, and leverage $3,100,000 in private investments.

• $10,900,000 in five Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects, matched by $2,492,895 in local investments, as follows:
  • $2,500,000, matched by $892,895 in local investment, to the Stephen F. Austin State University, Nacogdoches/Nacogdoches County, Texas, to support the Stephen F. Austin State University with making building renovations on three existing facilities totaling approximately 14,000 square feet on 15 acres of prime real estate in Nacogdoches, Texas, a designated Opportunity Zone. The facilities will house the Center for Applied Research and Rural Innovation, which will offer business services, student engagement, conference and training space, an information technology hub, and a manufacturing and learning center. Once completed, the culture of innovation created by the Center will increase the region’s capacity to recover from downturns and economic distress resulting from a natural disaster, such as the coronavirus pandemic, which will help advance long term economic vitality and sustainability, attract private investment, and strengthen the regional economy. The grantee estimates that this investment will help create 90 jobs and leverage $13,000,000 in private investment.
  • $2,400,000, matched by $600,000 in local investment, to the Maine Department of Economic and Community Development, Augusta/Kennebec County, Maine, to support the implementation of a comprehensive, statewide tourism marketing/promotion program designed to restore tourism visitation to Maine, assist the state and its hospitality businesses in recovering from the significant economic injuries and impact resulting from the COVID-19 pandemic, and return the state to its position as a premier four-season tourist destination. Once implemented, the program will identify strategies that will build towards sustained growth, create jobs, attract private investment, and advance economic resiliency throughout the region. The grantee estimates that this investment will help save 1,225 jobs.
  • $2,000,000, matched by $500,000 in local investment, to the Seize the Future Development Foundation dba Invest Aurora, Aurora/Kane County, Illinois, to support Invest Aurora with establishing a Revolving Loan Fund (RLF) to lend to small businesses and entrepreneurs throughout Aurora, Illinois, to help expand and modernize existing locally owned enterprises. Once implemented, the RLF will provide access to capital to help small businesses and entrepreneurs recover from the COVID-19 pandemic, which will promote job creation and retention, attract private investment, and bolster economic resiliency throughout the region. The grantee estimates that this investment will help create 50 jobs, save 120 jobs, and leverage $3,000,000 in private investment.
  • $2,000,000, matched by $500,000 in local investment, to the Town of Taos, Taos/Taos County, New Mexico, to support the Town of Taos with the construction of new infrastructure to provide commercial water and wastewater service to the Taos Regional Airport and the adjacent Business Industrial Park in Taos, New Mexico. Once completed, the project will help attract commercial jobs to the region, which is highly dependent on the tourism industry and has been highly impacted by the COVID-19 outbreak. The project will allow the region to diversify away from tourism, which will help advance long term economic vitality and sustainability to strengthen the regional economy. The grantee estimates that this investment will help create eight jobs, save six jobs, and leverage $11,000,000 in private investment.
  • $2,000,000, with no local match, to the Cossatot Community College of the University of Arkansas, De Queen/Sevier County, Arkansas, to support the purchase of a Medical Mobile Unit to create a Healthcare Simulation Lab and Telemedicine Space at each of University of Arkansas Cossatot’s four campus locations. The project will help increase healthcare access and testing for rural community members and industries, as well as provide a safe learning environment for medical education students to receive clinical training. Once completed, the project will offer much needed rural healthcare access by providing urgent healthcare as well as physical and occupational therapies, which will increase the region’s capacity to recover from the coronavirus pandemic, advance long-term economic vitality and sustainability, and strengthen the regional economy. The grantee estimates that this investment will help create 105 jobs and leverage $100,000 in private investment.
• $713,300 in one Public Works project, matched by $287,860 in local investment, as follows:
  • $713,300, matched by $287,860 in local investment, to the City of Caldwell, Caldwell/Burleson County, Texas, to support the City of Caldwell with making infrastructure improvements to aid in the expansion efforts of the Caldwell Industrial Park. The improvements include roadway, water and sewer infrastructure to support the growth of manufacturing in the Brazos Valley Region of Texas. The improvements will immediately help existing businesses and allow for business expansion within the area, which will support job creation, attract private investment, and advance economic resiliency throughout the region. The grantee estimates that this investment will help create 23 jobs, save 201 jobs, and leverage $3,100,000 in private investment.