Grant

August 9 - 15, 2019

EDA announced 21 investments from August 9-15, 2019, totaling $7,001,794, which is matched by $12,757,510 in local investments. These investments include the following: (1) $2,589,071 in five Economic Adjustment Assistance projects to help communities design and implement strategies to adjust or bring about change to their economy in response to structural damage to their underlying economic base; which includes four projects for $2,539,071 that will help create 104 jobs, save 19 jobs, and leverage $28,900,000 in private investment; (2) $2,880,000 in two Public Works projects to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 105 jobs and leverage $100,000 in private investment; (3) $760,000 in eight Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process; and (4) $772,723 in six Technical Assistance University Center project to make the varied and vast resources of universities available to the economic development practitioner community.
- $2,589,071 in five Economic Adjustment Assistance projects, matched by $2,352,730 in local investments, as follows:
  - $986,186 in Assistance to Coal Communities, matched by $766,615 in local investment, to the Community Ventures Corporation, Lexington/Fayette County, Kentucky, to support the Community Venture Corporation with the rehabilitation of the first floor of the McIntyre/Rankin Hall into a full-service kitchen incubator/business accelerator. The facility will provide training, technical assistance, and mentoring to entrepreneurs throughout a seven-county region of Kentucky severely impacted by the loss of coal related jobs. Once completed, the project will help promote growth and economic development by increasing investment, employment, and economic diversity throughout the region. The grantee estimates that this investment will help create 41 jobs, save 19 jobs, and leverage $1,000,000 in private investment.
  - $962,000 in 2018 Disaster Supplemental funds, matched by $962,000 in local investment, to the Doddridge County Public Service District, West Union/Doddridge County, West Virginia, to fund infrastructure upgrades to provide water service that is critical for expanding natural gas production in Doddridge County. The project will assist with recovery efforts due to flooding damages in 2017, which will lead to long-term economic growth and an increase in sustainable job opportunities throughout the region. The grantee estimates that this investment will help create 40 jobs.
  - $440,885 in 2018 Disaster Supplemental Funds, matched by $424,115 in local investment, to the City of Friendsville, Friendsville/Blount County, Tennessee, to support construction to the wastewater infrastructure in Blount County, which will rebuild the sewer system that was affected by a natural disaster within the region’s economically distressed and underserved communities. This project will create resiliency against future disasters, promote business growth along the City’s industrial corridor and attract private investment. The grantee estimates that this investment will help leverage $25,000,000 in private investment.
  - $150,000, matched by $150,000 in local investment, to Forward Cody Wyoming, Inc., Cody/Park County, West Virginia, to fund a revolving loan to provide gap financing options in Cody/Park County, an underserved community, following the loss of a major local employer. By improving capitalization of commercial startups and restructuring firms, the investment will help diversify the regional economy, spur manufacturing expansion, and create jobs in a federally designated Opportunity Zone. The grantee estimates that this investment will help create 23 jobs and leverage $2,900,000 in private investment.
  - $50,000 in Assistance to Coal Communities, matched by $50,000 in local investment, to Brooke-Hancock Regional Planning and Development Council (Region XI), Weirton/ Hancock, West Virginia, to fund a study of public wastewater service in Brooke County. By analyzing costs and sewer infrastructure impact, the study will lay the groundwork for economic diversification in an underserved area. Once completed, the project will promote business resiliency in coal communities, attract private investment, and create jobs throughout the region.
- $2,880,000 in two Public Works projects, matched by $6,379,888 in local investment, as follows:
  - $2,000,000, matched by $3,379,888 in local investment, to the Lafayette Airport Commission, Lafayette/Lafayette County, Louisiana, to fund rehabilitation and construction of parking facilities at Lafayette Airport in Lafayette County. Once completed, the upgrades will increase capacity for parking at the airport, which will help meet the growing demand in the area, strengthen the local economy, support private investment, and create jobs throughout the region. The grantee estimates that this investment will help create 82 jobs.
  - $880,000, matched by $3,000,000 in local investment, to Rose State College, Midwest City/Oklahoma County, Oklahoma, to fund the expansion of educational programs to train workers for industry employment at the Rose State College’s Oklahoma Center for Cybersecurity. The project provides exterior and interior facility improvements, which will increase workforce opportunities, support business expansion in a growing industry cluster, and strengthen the local economy. The grantee estimates that this investment will help create 23 jobs and leverage $100,000 in private investment.
- $760,000 in eight Partnership Planning projects, matched by $934,000 in local investment, to support the development and implementation of the Comprehensive Economic Development Strategy (CEDS) process. The CEDS process is designed to bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy.
- $772,723 in six Technical Assistance University Center projects, matched by $3,090,892 in local investment, to support a five-year University Center (UC) program, which is a competitively-based partnership between EDA and academic institutions that makes the varied and vast resources of universities available to the economic development practitioner community.