Grant

March 2 - 6, 2020

  • EDA announced 26 investments from March 2-6, 2020, totaling $8,230,223, which is matched by $4,467,542 in local investments. These investments include the following: (1) $4,804,723 in eight 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 two projects for $1,600,000 that will help create 25 jobs, save 760 jobs, and leverage $625,000 in private investment; (2) $2,350,000 in two Public Works projects to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 165 jobs, save 60 jobs, and leverage $14,600,000 in private investment; and (3) $1,075,500 in 16 Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
    • $4,804,723 in eight Economic Adjustment Assistance projects, matched by $2,236,954 in local investments, as follows:
      • $2,200,000 in 2019 Disaster Supplemental funding, matched by $550,000 in local investment, to the Concho Valley Council of Governments, San Angelo/Tom Green County, Texas, to support the Concho Valley Council of Governments (CVCOG) in San Angelo, with purchasing a building to serve as CVCOG’s regional headquarters to provide disaster recovery and economic development services to the region. The project will focus on reconstruction and rebuilding towards resiliency while diversifying the economy to promote a quick recovery and make it more hardened to withstand future impacts of economic, natural, and other disasters, which will lead to economic stability throughout the region.
      • $1,100,000 in 2019 Disaster Supplemental funding, matched by $1,100,000 in local investment, to the Tulsa Port of Catoosa, Catoosa/Rogers County, Oklahoma, to fund railroad infrastructure improvements at the Port of Catoosa in Rogers County, Oklahoma. The Port is a vital transportation node that ensures the flow of goods and other resources during natural disasters, and with the repairs it can remain competitive and expand the region’s ability to attract and retain its targeted industries. Once completed, the project will help build a reliable access to vital resources to support regional resiliency after future natural disasters and provide long-term sustainable economic growth. The grantee estimates that this investment will help save 735 jobs.
      • $500,000 in 2019 Disaster Supplemental funding, matched by $125,000 in local investment, to the Northeast Council of Governments and the Northeast County of Governments Development Corporation, Aberdeen/Brown County, South Dakota, to support the Northeast Council of Governments with establishing a Revolving Loan Fund to support small businesses with recovering and rebuilding following a natural disaster that hit twelve northeast counties located within and near designated Opportunity Zones in South Dakota. The project will address the local and regional need for capital by providing gap financing for start-up businesses as well as retaining, sustaining, and expanding businesses throughout the region. Once completed, the project will support disaster mitigation efforts by providing local business with access to working capital, which will bolster economic diversification, create jobs, and strengthen the regional economy. The grantees estimate that this investment will help create 25 jobs, save 25 jobs, and leverage $625,000 in private investment.
      • $462,723, matched by $273,954 in local investment, to the Lowcountry Local First, Charleston/Charleston County, South Carolina, to support the Lowcountry Local First organization with implementing the Good Enterprises program, to offer a curriculum of business education in Charleston County. The project will provide training, incubation, acceleration, financial literacy, and mentorship for underserved entrepreneurs in a designated Opportunity Zone. Once completed, the project will promote economic sustainability, expand job opportunities, and promote growth throughout the region.
      • $200,000 in 2019 Disaster Supplemental funding, matched by $50,000 in local investment, to the Centralina Economic Development Commission, Inc., Charlotte/Mecklenburg County, North Carolina, to support the hiring of a disaster recovery coordinator to collaborate with local leaders in Mecklenburg, Anson, Cabbarrus, Gaston, Irdell, Lincoln, Rowan, Stanly, and Union Counties in central North Carolina. The disaster recovery coordinator will update recovery plans, facilitate development of new plans for severely impacted communities that do not have them, and assist with special recovery projects. Once completed, the project will help strengthen and diversify the regional economy, which will increase resilience in the face of future disasters.
      • $200,000 in 2019 Disaster Supplemental funding, matched by $50,000 in local investment to the Piedmont Triad Regional Council, Kernersville/Forsyth County, North Carolina, to support the hiring of a disaster recovery coordinator to implement recovery strategies and collaborate with local leaders in Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Montgomery, Randolph, Rockingham, Stokes, Surry, and Yadkin counties in North Carolina. The disaster recovery coordinator will update recovery plans, facilitate the development of new plans for severely impacted communities that do not have them, and assist with special recovery projects. Once completed, the project will help strengthen and diversify the regional economy and will increase resilience in the face of future disasters.
      • $72,000, matched by $18,000 in local investment, to the Upper Coastal Plain Council of Governments, Wilson/Wilson County, North Carolina, to support a regional broadband study to fill the critical need for asset information in Wilson, Edgecombe, Halifax, Nash, and Northhampton counties in North Carolina. The project will identify target opportunities for future investment in high-speed broadband in an area hard-hit by recent natural disasters. Once completed, the project will provide long-term economic growth, support business development, and create new jobs throughout the region.
      • $70,000, matched by $70,000 in local investment, to the Eddyville Riverport and Industrial Authority, Eddyville/Lyon County, Kentucky, to support the Eddyville Riverport and Industrial Authority with the update of the Riverport Master Plan, to serve as the foundation for revitalization in Lyon County. The project will define areas for improvement and establish priorities for future projects and growth in areas within the riverport’s boundaries. Once completed, the project will help create jobs and encourage economic development throughout the region.
    • $2,350,000 in two Public Works projects, matched by $1,296,421 in local investments, as follows:
      • $1,500,000, matched by $1,031,789 in local investment, to the City of Springdale, Springdale/Washington County, Arkansas, to support critical roadway infrastructure improvements to remove existing portions of Jefferson Street, widen Kendrick Avenue, and connect it to Arkansas State Highway 265 in Benton County, Arkansas. The project improvements will also support a food processing equipment manufacturer with the construction of a new plant on a nearby site, which will help create jobs, spur private investments, and strengthen the regional economy. The grantee estimates that this investment will help create 65 jobs, save 60 jobs, and leverage $14,600,000 in private investment.
      • $850,000, matched by $264,632 in local investment, to the Delgado Community College, New Orleans/Orleans County, Louisiana, to support the Delgado Community College with the design and construction of a new two-story Delgado Maritime and Industrial Training Facility in a designated Opportunity Zone in Orleans County, Louisiana. The new facility will address the regions need for skilled workers by providing a maritime training program on new deckhands that will prepare students for entry into the Inland Water Transportation Industry. Once completed, the project will produce a pipeline of trained and credentialed mariners, create jobs, and strengthen the regional economy. The grantee estimates that this investment will help create 100 jobs.
    • $1,075,500 in 16 Partnership Planning projects, matched by $934,167 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.