Grant

January 25 - 29, 2021

EDA announced 14 investments from January 25-29, 2021, totaling $3,369,548, which is matched by $1,253,602 in local investments. These investments include the following: (1) $1,479,548 in five Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects to help alleviate sudden and severe economic dislocation caused by the coronavirus pandemic, which includes two projects for $847,500 that will help create 406 jobs and save 320 jobs; and (2) $1,890,000 in nine Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.

  • $1,479,548 in five Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects, matched by $311,102 in local investments, as follows:
    • $450,000, matched by $112,500 in local investment, to the University of North Texas Health Science Center, Fort Worth/Tarrant County, Texas, to support the University of North Texas Health Science Center with expanding its Sparkyard initiative, a web-based platform used to connect industrialist, by offering free online resources that will help local entrepreneurs and small business owners grow and launch their companies in Tarrant County, Texas. Once completed, the project will assist the region with recovery efforts from the COVID-19 pandemic, support entrepreneurism, spur jobs creation, attract private investment, and advance economic resiliency throughout the region.
    • $447,500, matched by $52,500 in local investment, to the Northwest School of Wooden Boatbuilding, Port Hadlock/Jefferson County, Washington, to support the Northwest School of Wooden Boatbuilding with addressing a critical shortage of marine technicians by developing an accredited hands-on training program to teach marine systems: electrical, corrosion, plumbing, diesel and outboard engines, heating and cooling, hydraulics and steering and propulsion in Jefferson County, Washington, a designated Opportunity Zone. The project will fill the need for experienced maritime technicians in the area by providing the necessary equipment needed to train workers. Once completed, the project will help create higher-paying jobs, attract private investment, and advance economic resiliency throughout the region. The grantee estimates that this investment will help create 336 jobs and save 300 jobs.
    • $400,000, matched by $100,000 in local investment, to the Small Business Guarantee and Finance Corporation, Ponape/Federated States of Micronesia, to capitalize a Revolving Loan Fund to lend to borrowers in the State of Pohnpei in the Federated States of Micronesia. Once implemented, the project will alleviate sudden and severe economic dislocation caused by the coronavirus (COVID-19) pandemic, provide permanent resources to support economic resiliency, further the long-term economic adjustment objective, create and retain jobs, and attract private investments, which will strengthen and advance the regional economy. The grantee estimates that this investment will help create 70 jobs and save 20 jobs.
    • $110,048, matched by $28,102 in local investment, to the Lake County Partnership for Economic Development, Lincolnshire/Lake County, Illinois, to support the Lake County Partnership for Economic Development with updating Lake County’s Comprehensive Economic Development Strategy (CEDS) in Lincolnshire, Illinois, a designated Opportunity Zone. The CEDS strategy process will include input from key stakeholders and will result in a new economic development vision for the area, with special attention on the impact of public health on the economy, workforce development, and resilience to economic shocks. Once implemented, the CEDS will help local leaders and stakeholders understand their current economic circumstances and provide a roadmap to help maximize the value of the strong presence of medical device manufacturers. In addition, the CEDS will assist the region with recovery efforts from the COVID-19 pandemic, create and retain jobs, attract private investment, and advance economic resiliency throughout the region.
    • $72,000, matched by $18,000 in local investment, to the Bowling Green State University, Bowling Green/Wood County, Ohio, to support the Bowling Green State University with developing the U.S. 30 Corridor Comprehensive Economic Development Strategy (CEDS) for Ashland, Crawford, Richland, and Wyandot counties in north central Ohio. The project will create an overarching plan to facilitate job creation and diversification of the local economy. Once implemented, the CEDS will assist the region with recovery efforts from the COVID-19 pandemic and help build resiliency from future economic disruptions.
  • $1,890,000 in nine Partnership Planning projects, matched by $942,500 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.