Grant

March 15 - 21, 2019

  • EDA announced 28 investments from March 15-21, 2019, totaling $10,787,066. These investments include the following: (1) $2,550,000 in two Public Works projects to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 630 jobs and leverage 710,000,000 in private investment; (2) $5,749,998 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; and (3) $2,487,068 in 24 Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
    • $2,550,000 in two Public Works projects as follows:
      • $1,500,000 to Amarillo College, Amarillo/Potter County, Texas, to support Amarillo College with the construction of a maker space as the first of three phases of a future Innovation Hub. The maker space will provide networking/conference space for entrepreneurs, as well as wood and metal workstations providing access to 3-D printing equipment to assist the region with diversifying its economy and attracting new entrepreneurs to Potter County. The grantee estimates that this investment will help create 400 jobs.
      • $1,050,000 to St. Joseph County and Metronet, South Bend/St. Joseph County, Indiana, to fund the Indiana Enterprise Center Broadband Expansion Project to construct a redundant fiber loop that provides a fail-safe network suitable for supporting an industrial business development park in St. Joseph County, Indiana. Once completed, the investment will help spur job creation and private sector growth, which will provide long-term economic growth throughout the region. The grantee estimates that this investment will help create 230 jobs and leverage $710,000,000 in private investment.
    • $5,749,998 in two Economic Adjustment Assistance projects as follows:
      • $5,000,000 in 2018 Disaster Supplemental funding to the City of Rockport, Rockport/Aransas County, Texas, to fund the construction of a new building for the Rockport Art Association to facilitate the city’s recovery from Hurricane Harvey. The Rockport Center for the Arts will help the city retain its existing workforce of artists and entrepreneurs, which will boost tourism and revitalize the downtown area. Once completed, this investment will lead to long-term growth opportunities for the region.
      • $749,998 2018 Disaster Supplemental funding to Texas Tech University, Lubbock/Lubbock County, Texas, to support the Innovative Financing Strategies for Small Businesses in Hurricane Prone Regions study, to conduct evidence-based research of small business methods and tools to facilitate disaster preparation, recovery, and long-term growth in hurricane-prone regions throughout Lubbock, Texas. Once completed, the study will help to strengthen the region's resiliency and ultimately create jobs as well as sustain the local economy.
    • $2,487,068 in 24 Partnership Planning projects 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.