Grant

December 14 - 18, 2020

  • EDA announced 34 investments from December 14-18, 2020, totaling $31,145,092, which is matched by $5,673,764 in local investments. These investments include the following: (1) $14,330,000 in six Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects to help alleviate sudden and severe economic dislocation caused by the coronavirus pandemic, which includes four projects for $11,330,000 that will help create 488 jobs, save 669 jobs, and leverage $7,900,000 in private investments; (2) $13,626,796 in two 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 one project for $10,681,796 that will help create 93 jobs; (3) $458,296 in one Public Works project to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 294 jobs, save 385 jobs, and leverage $127,700,000 in private investment; and (4) $2,730,000 in 25 Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
    • $14,330,000 in six Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects, matched by $3,574,564 in local investments, as follows:
      • $8,000,000, with $0 local match, to the Colorado Lending Source, LTD, the Region 9 Economic Development District of Southwest Colorado, and the Colorado Enterprise Fund, Inc, Denver/Denver County, Colorado, to support the Colorado Lending Source, LTD with establishing a Revolving Loan Fund to support the State of Colorado’s economic recovery efforts from the COVID pandemic in Denver County, Colorado, near a designated Opportunity Zone. The project will address the local and regional need for capital by providing gap financing to provide an additional source of funding to businesses that have been impacted by the coronavirus pandemic, enabling these businesses to continue operations under a reduced capacity, which will help create and save jobs, and strengthen the regional economy. The grantees estimate that this investment will help create 288 jobs and save 288 jobs.
      • $3,000,000, matched by $3,000,000 in local investment, to the South Carolina Department of Parks, Recreation and Tourism, Columbia/Richland County, South Carolina, to support the South Carolina Department of Parks, Recreations and Tourism with implementing a Tourism Recovery Marketing Plan to assist with recovery efforts from the COVID-19 pandemic in South Carolina. Once implemented, the plan will help to ensure the recovery of visitation and visitor spending to provide economic support for the state's tourism and recreation sectors, which will strengthen the regional economy and advance economic resiliency throughout the region.
      • $1,700,000, matched by $425,000 in local investment, to Kansas State University, Manhattan/Riley County, Kansas, to support Kansas State University with product development and establishing manufacturing techniques to assist with recovery efforts from the COVID-19 pandemic by using student and faculty/staff expertise and updating available university facilities and equipment in Riley County, Kansas. The project will allow manufacturers to retool and learn new fabrication techniques, to quickly develop new product prototypes, pivot operations in response to new product demands and economic shifts, and to address evolving workplace safety concerns by integrating higher degrees of automation and digitization into manufacturing processes. Once implemented, the project will modernize and add capacity to its current 20th century equipment to meet the evolving 21st century standards, which will increase job opportunities, attract private investments, and strengthen the local economy. The grantee estimates that this investment will help create 80 jobs, save 61 jobs, and leverage $7,900,000 in private investment.
      • $1,100,000, with $0 local match, to the Arcata Economic Development Corporation, Eureka/Humboldt County, California, to capitalize a $1,000,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Del Norte County of California. This EDA investment also provides $100,000 to defray the cost of administering the RLF. The EDA investment will alleviate sudden and severe economic dislocation caused by the coronavirus (COVID-19) pandemic, provide permanent resources to support economic resiliency, and further the long-term economic adjustment objectives of the region served by this EDA investment. The grantee estimates that this investment will help create 40 jobs.
      • $500,000, matched by $134,564 in local investment, to the Good Work Network, New Orleans/Orleans County, Louisiana, to support the Good Work Network with establishing a virtual business center that offers small business owners access to specialty training via distance learning tools in Orleans County, Louisiana. The project will allow clients to participate in web-based courses both in real-time and on-demand; locate, schedule and meet with subject matter experts online for technical assistance; and engage in remote, one-on-one counseling sessions with trained small business advisors. Once completed, the project will help entrepreneurs with enhancing their business management knowledge, assist with recovery efforts from the COVID-19 pandemic, save and create jobs, and strengthen economic resiliency throughout the region. The grantee estimates that this investment will help create 80 jobs and save 320 jobs.
      • $30,000, matched by $15,000 in local investment, to the Urban League of Metropolitan Saint Louis, Inc., Saint Louis/Saint Louis City, Missouri, to support the Urban League of Metropolitan Saint Louis, Inc. with conducting a feasibility study for a business incubator in the City of Dellwood, Missouri. The feasibility study will help to understand the market demand, operational feasibility and financial proforma of a new incubator facility. The impacts of the COVID-19 crisis have substantially affected small businesses in the region leading to possible losses of infrastructure and capacity. New and existing businesses will require support along with the tools and resources to restart and redevelop. The incubator and shared office spaces will focus on the Imagining, Incubating, and Demonstrating phases of Commercialization, along with providing general support to businesses to better equip them to recover from the COVID-19 crisis.
    • $13,626,796 in two Economic Adjustment Assistance projects as follows:
      • $10,681,796 in 2019 Disaster Supplemental funding, with $0 local match, to the Northern Marianas College, Saipan/Saipan County, Northern Marianas, to support the Northern Marianas College with the construction of two educational and workforce training facilities on Saipan, Northern Mariana Islands, to allow for academic and research dedicated to food science, plant biotechnology, entomology, and anthropometry. The construction of the Workforce Development Training Center will also help increase employment opportunities in the area, which will boost the region’s workforce. Once completed, the project will support resiliency against future natural disasters, spur private investment, and provide long-term economic stability. The grantee estimates that this investment will help create 93 jobs.
      • $2,945,000, with $0 local match, to the Global forum for Freedom and Justice and the Regional Planning Commission of Greater Birmingham, Applicant: Washington, DC/Project: Birmingham/Jefferson County, Alabama, to support the Global Forum for Freedom and Justice and the Regional Planning Commission of Greater Birmingham with developing a strategic plan and feasibility study to help identify a site for a mixed-use development in Birmingham, Alabama. The plan will allow research, procurement, management, and construction for the establishment of an international gathering place focused on leadership, education, and innovation to help revitalize the tourism industry in the area by connecting visitors to key historic sites and institutions across Alabama, and throughout the nation. Once completed, the plan will spur community development opportunities throughout Birmingham’s designated Opportunity Zones, help advance long term economic vitality and sustainability, bolster job creation, attract private investment, and strengthen the regional economy.
    • $458,296 in one Public Works project, matched by $224,200 in local investment, as follows:
      • $458,296, matched by $224,200 in local investment, to the Patrick Henry Community College, Martinsville/Martinsville City, Virginia, to support the Patrick Henry Community College (PHCC) with purchasing fixed equipment for their new welding lab that will expand welding capacity from 16 welding booths to 45. This expansion will allow PHCC to more than double the number of credentials awarded annually, which will help to fill job openings in Martinsville, Virginia. Once complete, local businesses will benefit from certified welding workers, which will spur business growth, create jobs, attract private investment and grow advanced manufacturing businesses and industries throughout the region. The grantee estimates that this investment will help create 294 jobs, save 385 jobs, and leverage $127,700,000 in private investment.
    • $2,730,000 in 25 Partnership Planning projects, matched by $1,875,000 in local investments, 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.