January 10 - 14, 2022

EDA announced 16 investments from January 10-14, 2022, totaling $9,100,330, which is matched by $3,360,871 in local investments.  These investments include the following: (1) $2,569,099 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 that will help create 365 jobs, save 66 jobs, and leverage $2,700,000 in private investments; (2) $3,853,731 in two Public Works projects to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 160 jobs, save 120 jobs, and leverage $240,200,000 in private investments; and (3) $2,677,500 in 12 Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.

• $2,569,099 in two Economic Adjustment Assistance projects, matched by $919,730 in local investments, as follows:
  • $1,614,099, matched by $404,730 in local investment, to the Research Foundation of the State University of New York-Binghamton/Cornell University, Binghamton/Broome County, New York, to support the establishment of the Southern Tier Soft Landing Program, to attract foreign companies to New York's Southern Tier region. The program will provide a variety of services to the incoming foreign startups and companies, including, but not limited to, immigration and visa assistance, legal and government compliance advisement, domestic market research and entry assistance, access to capital and potential investors, and cultural and translation services.  Once implemented, the project will create jobs, enable business expansion, and increase business attraction opportunities in a designated Opportunity Zone, which will help advance economic resiliency throughout the region.  The grantees estimate that this investment will help create 365 jobs and leverage $2,700,000 in private investment.
  • $955,000 in 2019 Disaster Supplemental funding, matched by $515,000 in local investment, to the City of Moscow, Moscow/Latah County, Idaho, to support the construction of a new bridge in Moscow, Idaho, to replace a structure damaged by flooding in April 2019. This new multimodal bridge will provide a critical link between businesses and residents on either side of Paradise Creek, mitigate the effects of the 2019 flood event, support the medical and agricultural parts of the area economy, and be engineered to withstand future flood events.  Once completed, the project will help the region create a more resilient community and assure continuity of businesses and residential operation, which will advance economic resiliency and strengthen the regional economy.  The grantee estimates that this investment will help save 66 jobs.
• $3,853,731 in two Public Works projects, matched by $963,433 in local investments, as follows:
  • $2,253,731, matched by $563,433 in local investment, to the City of Anacortes, Anacortes/Skagit County, Washington, to support the installation of a city-wide fiber optic broadband network to provide a more complete coverage in Skagit County, Washington, a designated Opportunity Zone.  The project will provide broadband service options to Island Hospital in Anacortes, which enhances the medical community's ability to serve patients locally through the use of video conferencing and consultation with larger hospitals. Once completed, the project will help restart the local economy after the COVID-19 pandemic and mitigate losses in the event of other economic disruptions, which will help the region overcome the lack of adequate, reliable broadband service to help diversify and strengthen the regional economy.  The grantee estimates that this investment will help create 157 jobs, save 120 jobs, and leverage $240,000,000 in private investment.
  • $1,600,000, matched by $400,000 in local investment, to King and Queen County, King and Queen Court House/King and Queen County, Virginia, to support the construction of a multi-tenant building to house a telework center, telehealth center and the Middle Peninsula Planning District Commission offices in a designated Opportunity Zone in Virginia.  The project addresses the pressing need for medical services as well as providing a telework/business development facility in the county.  At startup, the proposed facility would house a full-time nurse, one or two physical therapists and revolving physicians utilizing three exam rooms and necessary support facilities.  In addition, the project will provide the facilities with high-speed Internet service.  Once completed, the project will serve as a critical anchor for medical services and business development in the area, which will attract private investment, create jobs throughout the region, and provide long-term sustainable economic growth.  The grantee estimates that this investment will help create three jobs and leverage $200,000 in private investment.
• $2,677,500 in 12 Partnership Planning projects, matched by $1,477,708 in local investments, 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.