Grant

June 22 - 26, 2020

EDA announced 47 investments from June 22-26, 2020, totaling $15,256,047, which is matched by $1,658,947 in local investments. These investments include the following: (1) $2,376,022 in six 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 three investments totaling $1,455,000 that will help create 61 jobs, save 20 jobs, and leverage $13,500,000 in private investments; (2) $12,177,525 in 38 COVID-19 Recovery and Resiliency Partnership Planning Projects; (3) ) $300,000 in one COVID-19 Recovery and Resiliency University Center Project; and (4) $402,500 in two Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $2,376,022 in six Economic Adjustment Assistance projects, matched by $1,256,447 in local investments, as follows:
  - $800,000 in 2019 Disaster Supplemental funds, matched by $200,000 in local investment, to the South Eastern Development Foundation, Sioux Falls/Minnehaha County, South Dakota, to support the South Eastern Development Foundation with re-capitalizing a revolving loan fund to fill the critical need for access to working capital for disaster recovery efforts in Clay, Lincoln, McCook, Minnehaha, Turner, and Union counties in South Dakota. The project will help provide gap financing for start-up businesses that may otherwise be denied access to capital, and will help retain, sustain, and expand businesses in an area hit hard by recent flooding and tornadoes. A portion of the lending area is within a designated Opportunity Zone. Once completed, the project will create jobs, promote manufacturing, diversify the regional economy, and increase economic security throughout the region. The grantee estimates that this investment will help create 41 jobs and leverage $9,000,000 in private investment.
  - $500,000, matched by $500,000 in local investment, to the City of Excelsior Springs, Excelsior Springs/Clay County, Missouri, to support the city of Excelsior Springs with improving critical roadway infrastructure near Interstate 35 and Highway 69 within the northern portion of Clay County, Missouri, a designated Opportunity Zone. The project will support future businesses and business expansions by widening and extending roadways and relocating sanitary sewer lines to accommodate business development. Once completed, the project will allow current businesses to expand and will attract future businesses to the area, which will help grow the region’s manufacturing industry, attract private investment, create jobs, and boost the regional economy. The grantee estimates that this investment will help create 20 jobs and leverage $4,500,000 in private investment.
  - $450,228, matched by $399,998 in local investment, to Operation Hope, Inc. (Atlanta/Fulton County, Georgia) and Morgan State University (Baltimore/Baltimore County, Maryland), to support Operation Hope in conjunction with Morgan State University with providing training, technical assistance and other small business and personal financial services for underserved community entrepreneurs, minority and women owned businesses within distressed quality opportunity zones (QOZ). The project includes a community outreach to connect with, recruit and impact 1,240 entrepreneurs and business owners in the Baltimore metro area. Once implemented, the project will spur economic development through small business growth and improve entrepreneurial education that advances greater access to capital, which will promote diversity throughout the region.
  - $350,000, matched by $87,500 in local investment, to the University of Texas at San Antonio, San Antonio/Bexar County, Texas, to support the University of Texas San Antonio (UTSA) with conducting a feasibility assessment for the development of an innovation and research park adjacent to the UTSA downtown campus. The Tri-centennial Innovation Park will support San Antonio’s Metro Area economic growth and diversification by providing resources for recruiting new businesses and assisting present companies to expand operations. The study will be critical in providing a market assessment to facilitate the development of a comprehensive and strategic approach in identifying the recommended target partners, providing the needed facilities, and determining the costs. Once completed, the project will provide community innovation space that allows both university and non-university community members to participate in the growing innovation economy, which will promote private investment and create jobs.
  - $155,000 in 2019 Disaster Supplemental funds, matched by $38,750 in local investment, to the Lower Rio Grande Valley Development Council, Weslaco/Hidalgo County, Texas, to support the Lower Rio Grande Valley Development Council (LRGVDC) with the hiring of a lead regional resilience coordinator and two supporting staff to serve as liaisons for Cameron, Hidalgo, and Willacy Counties in Texas. In the past five years, the LRGVDC region has experienced significant flooding from severe weather and are still working to recover the losses. The project will help address disaster recovery and resiliency in the region, which will help to establish long-term recovery efforts and spur business and social redevelopment throughout the area. The grantee estimates that this investment will help save 20 jobs.
  - $120,794 in 2019 Disaster Supplemental funds, matched by $30,199 in local investment, to the Northwest Regional Planning Commission, Spooner/Washington County, Wisconsin, to support the Northwest Regional Planning Commission with conducting a regional survey to determine the status of the broadband infrastructure in Bayfield, Ashland, Iron and Douglas Counties in Wisconsin. The project will help address the functionality of the limited transportation network after the region was severely impacted by historic flooding in 2012, 2016, and 2018. Once completed, the survey will help identify existing gaps in broadband access across the region to assist in providing full regional connectivity. In addition, this investment will help the region capitalize on its strengths and opportunities related to long-term economic development, create or enhance an environment that is conducive to job growth, and improve infrastructure and overall community development to improve the quality of life.
- $12,177,525.80 in 38 COVID-19 Recovery and Resiliency Projects awarded to the Partnership Planning grantees listed below 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. Specifically, the scope of work for these projects require the recipient(s) to undertake one or more of the following pre-approved activities: (1) the development of an economic recovery and resilience plan, tied to the applicant’s approved Comprehensive Economic Development Strategy, to address the economic impacts of the coronavirus pandemic, (2) the deployment of disaster recovery coordinators to orchestrate the region’s response to the pandemic, (3) the provision of technical assistance, as necessary, to local governments, businesses, and other stakeholder organizations, and (4) the funding of appropriate technology and staff support for these pandemic-response activities.
- $300,000 in one COVID-19 Recovery and Resiliency Project to the University of Alaska University Center Program, Anchorage, Alaska, 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.
- $402,500 in two Partnership Planning projects, matched by $402,500 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.