Grant

July 6 - 10, 2020

EDA announced 55 investments from July 6-10, 2020, totaling $31,888,664, which is matched by $1,328,581 in local investments. These investments include the following: (1) $30,133,364 in 44 COVID-19 Recovery and Resiliency Projects to help alleviate sudden and severe economic dislocation caused by the coronavirus pandemic; (2) $877,800 in seven Technical Assistance University Center projects to make the varied and vast resources of universities available to the economic development practitioner community; and (3) $877,500 in four Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $30,133,364 in 44 COVID-19 Recovery and Resiliency Projects as follows:
  - $18,722,000 in 13 COVID-19 Recovery and Resiliency Projects to the following grantees to capitalize Revolving Loan Funds:
    - $3,718,000 to the CSRA Resource Development Agency, Inc., Augusta/Richmond County, Georgia, to capitalize a $3,380,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Burke County, Columbia County, Glascock County, Hancock County, Jefferson County, Jenkins County, Lincoln County, McDuffie County, Richmond County, Taliaferro County, Warren County, Washington County, and Wilkes County in Georgia. This EDA investment also provides $338,000 to defray the cost of administering the RLF.
    - $3,289,000 to the Middle Georgia Regional Commission, Macon/Bibb County, Georgia, to capitalize a $2,990,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Baldwin County, Bibb County, Crawford County, Houston County, Jones County, Monroe County, Peach County, Pulaski County, Putnam County, Twiggs County, and Wilkinson County in Georgia. This EDA investment also provides $299,000 to defray the cost of administering the RLF.
    - $2,145,000 to the Buffalo Trace Area Development District, Maysville/Mason County, Kentucky, to capitalize a $1,950,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Bracken County, Fleming County, Lewis County, Mason County, and Robertson County in Kentucky. This EDA investment also provides $195,000 to defray the cost of administering the RLF.
    - $2,101,000 to the Georgia Mountains Regional Development Commission, Gainesville/Hall County, Georgia, to capitalize a $1,910,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Banks County, Dawson County, Forsyth County, Franklin County, Habersham County, Hall County, Hart County, Lumpkin County, Rabun County, Stephens County, Towns County, Union County, and White County in Georgia. This EDA investment also provides $191,000 to defray the cost of administering the RLF.
    - $1,474,000 to the Lake Cumberland Area Development District, Russell Springs/Russell County, Kentucky, capitalizes a $1,340,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Adair County, Casey County, Clinton County, Cumberland County, Green County, McCreary County, Pulaski County, Russell County, Taylor County, and Wayne County in Kentucky. This EDA investment also provides $134,000 to defray the cost of administering the RLF.
    - $1,276,000 to the FIVCO Area Development District, Grayson/Carter County, Kentucky, to capitalize a $1,160,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Boyd County, Carter County, Elliott County, Greenup County, and Lawrence County in Kentucky. This EDA investment also provides $116,000 to defray the cost of administering the RLF.
    - $1,001,000 to the River Valley Regional Development Center, Columbus, Georgia, to capitalize a $910,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Chattahoochee County, Clay County, Crisp County, Dooly County, Harris County, Macon County, Marion County, Muscogee County, Quitman County, Randolph County, Schley County, Stewart County, Sumter County, Talbot County, Taylor County, and Webster County. This EDA investment also provides $91,000 to defray the cost of administering the RLF.
    - $825,000 to the Southern Georgia Regional Commission, Valdosta/Lowndes County, Georgia, to capitalizea $750,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Atkinson County, Bacon County, Ben Hill County, Berrien County, Brantley County, Brooks County, Charlton County, Clinch County, Coffee County, Cook County, Echols County, Irwin County, Lanier County, Lowndes County, Pierce County, Tift County, Turner County, and Ware County in Georgia. This EDA investment also provides $75,000 to defray the cost of administering the RLF.
    - $759,000 to the Pennyrile Area Development District, Hopkinsville/Christian County, Kentucky, to capitalize capitalizes a $690,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Caldwell County, Christian County, Crittenden County, Hopkins County, Livingston County, Lyon County, Muhlenberg County, Todd County, and Trigg County. This EDA investment also provides $69,000 to defray the cost of administering the RLF.
    - $759,000 to the Gateway Area Development District, Morehead/Rowan County, Kentucky, to capitalize a $690,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Montgomery County, Bath County, Menifee County, Morgan County, and Rowan County in Kentucky. This EDA investment also provides $69,000 to defray the cost of administering the RLF.
    - $550,000 to the Northwest Georgia Regional Commission, Rome/Floyd County, Georgia, to capitalize a $500,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Bartow County, Catoosa County, Chattooga County, Dade County, Fannin County, Floyd County, Gilmer County, Gordon County, Haralson County, Murray County, Paulding County, Pickens County, Polk County, Walker County, and Whitfield County in Georgia. This EDA investment also provides $50,000 to defray the cost of administering the RLF.
    - $550,000 to the Southwest Georgia Regional Commission, Camilla/Mitchell County, Georgia, to capitalize a $500,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Baker County, Calhoun County, Colquitt County, Decatur County, Dougherty County, Early County, Grady County, Lee County, Miller County, Mitchell County, Seminole County, Terrell County, Thomas County, and Worth County in Georgia. This EDA investment also provides $50,000 to defray the cost of administering the RLF.
    - $275,000 to the Barren River Area Development District, Bowling Green/Warren County, Kentucky, to capitalize a $250,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Allen County, Barren County, Butler County, Edmonson County, Hart County, Logan County, Simpson County, Warren County, Metcalfe County, and Monroe County in Kentucky. This EDA investment also provides $25,000 to defray the cost of administering the RLF.
  - $9,011,364 in 23 COVID-19 Recovery and Resiliency Projects to the following Partnership Planning grantees to provide supplemental financial assistance to update economic development plans and fortify programs to assist communities in responding to the unusual and compelling urgency of the coronavirus pandemic:
  - $2,400,000 in eight COVID-19 Recovery and Resiliency Projects to the following Technical Assistance University Center grantees to provide supplemental financial assistance to help them respond to the unusual and compelling urgency of the coronavirus pandemic. University Centers receiving these supplemental awards are required to implement one or more scope of work activities that have been pre-approved by EDA: (1) providing technical assistance to entrepreneurs, businesses, and communities to assist in economic recovery efforts, (2) assisting with solutions to move courses to an on-line platform to support the business and entrepreneurial community, (3) supporting technology commercialization, entrepreneurship, product development and manufacturing aimed at the prevention of, preparation for, or response to the economic impacts of the coronavirus pandemic, (4) conducting, sharing and disseminating applied research to address challenges resulting from the economic impacts of the coronavirus pandemic, and (5) assisting communities in identifying and supporting workforce talent through workforce training and other professional development programs.
- $877,800 in seven Technical Assistance University Center projects, matched by $735,247 in local investments, 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.
- $877,500 in four Partnership Planning projects, matched by $593,334 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.