Grant

February 29 - March 7, 2024

EDA announced 6 investments from February 29 - March 7, 2024, totaling $5,310,040, which is matched by $1,255,000 in local investments.  These investments include the following:

  1. $4,720,000 in two Economic Adjustment Assistance-2023 Disaster Supplemental projects to help regions that are experiencing severe economic distress or other economic hardship resulting from Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022 and help create 100 jobs and leverage $900,000 in private investment.
  2. $385,040 in one Economic Adjustment Assistance 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.
  3. $130,000 in two Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
  4. $75,000 in one Technical Assistance project to strengthen the capacity of local or state organizations and institutions to undertake and promote effective economic development programs.
  • $4,720,000 in two 2023 Disaster Supplemental projects, matched by $1,180,000 in local investments, as follows:
    • $2,000,000 to the City of Newport, Newport/Jackson County, Arkansas, with making renovations to an existing 14,500 square foot two-story building in Jackson County, Arkansas.  The project work includes renovating the useable space for companies to utilize.  Once completed, the project will help improve the Northeast Arkansas Delta regional workforce, which will lay the groundwork for long-term economic vitality and advance economic resiliency throughout the region. The grantee estimates that this investment will help create 100 jobs and leverage $900,000 in private investment.
    • $2,720,000 to the Economic Development Authority of Floyd County, Virginia, to support constructing the roadway and utilities for Phase 2 of the Floyd Regional Commerce Center.  The project work includes the construction of approximately 960 LF of road, 1,600 LF of storm sewer, 1,075 LF of sanitary sewer, 1,130 LF of water lines, 1,320 LF of conduit, site grading for a 2-acre building pad and appurtenances on a 51-acre site adjacent to the original park in Floyd.  Once completed, the project will create new opportunities for employment and strengthen the regional economy.
  • $385,040 in one Economic Adjustment Assistance project, as follows:
    • $385,040 to the Chefarnrmute Inc., Chefornak/Bethel County, Arkansas, to support with developing the barge landing and engineering designs for the Village of Chefornak.  The barge landing is a critical economic infrastructure for the viability of Chefornak and is essential for the community.  The project will also include obtaining the permit to replace the barge, which is the only barge in Chefornak, Alaska, and is failing due to erosion.  Once completed, the repair and protection of the barge landing will ensure the materials and heavy equipment needed for future climate resiliency projects would arrive to Chefornak, which will provide resources to generate an environment that can serve as a catalyst for unprecedented regional economic growth.
  • $130,000 in two Partnership Planning projects,to support the development and implementation of a comprehensive economic development strategy (CEDS).  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.
    • $65,000 to the Confederated Tribes of the Umatilla Indian Reservation, Pendleton/Umatilla County, Oregon, to support the development and implementation of a Comprehensive Economic Development Strategy (CEDS) for the region served by the Confederated Tribes of the Umatilla Indians.  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.
    • $65,000 to the Spokane Tribe of the Spokane Reservation, Wellpinit/Stevens County, Washington, to support the development and implementation of a comprehensive economic development strategy (CEDS) for the region served by the Spokane Tribe of Indians to promote activities that will support projects on and off the Spokane Indian Reservation.  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.
  • $75,000 in one Local Technical Assistance project, matched by $75,000 in local investment, as follows:
    • $75,000 to the City of Avon Lake, Avon Lake/Lorain County, Ohio, to support developing a new Economic Recovery and Resiliency Plan.  The recent 2022 closure of the NRG Energy coal-fired power plant devastated Avon Lake and neighboring communities in the region.  The project will help provide a strategy to include an employment geography and sector analysis as well as a review of zoning and land use designations.  The strategy will include a set of recommendations for local leaders to consider as they try to diversify the local and regional economy to become more resilient in the face of future economic shocks.  Once implemented, the strategy will lead to the capitalization on new opportunities and creation of jobs throughout the region.