Grant

March 22 - 28, 2019

EDA announced 13 investments from March 22-28, 2019, totaling $10,238,955. These investments include the following: (1) $9,188,955 in four 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 one project for $4,327,080 that will help save 105 jobs and leverage $4 million in private investment; and (2) $1,050,000 in nine Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $9,188,955 in four Economic Adjustment Assistance projects as follows:
  - $4,327,080 in 2018 Disaster Supplemental funding to the City of Arcadia, Arcadia/Trempealeau County, Wisconsin, to fund the City of Arcadia Storm Water System Flood Improvements Project to upgrade and redevelop four storm water pump stations to help the City of Arcadia recover from both long-term and sudden and severe economic distress. Once completed, the improvements to the City’s infrastructure will help make existing business more reliable, which will lead to more employment opportunities and long-term economic development. The grantee estimates that this project will help save 105 jobs and leverage $4 million in private investment.
  - $2,554,000 in 2018 Disaster Supplemental funding to the City of Abbeville, Abbeville/Abbeville County, South Carolina, to support the establishment of critical wastewater infrastructure upgrades to the Long Cane Creek Wastewater Treatment Facility in the City of Abbeville, part of which is in a Tax Cuts and Jobs Act designated Opportunity Zone. The upgrades will allow the wastewater treatment facility to be able to better respond to high water events, such as those that occurred during Hurricane Irma, and maintain reliable and consistent services to existing industrial and commercial customers. The project will help strengthen and enhance diversification in the region, boost new commercial and industrial development, and create jobs.
  - $1,207,875 in 2018 Disaster Supplemental funding to Winthrop University, Rock Hill/York County, South Carolina, to fund improvements and upgrades to electrical substations serving Winthrop University, which is located in a Tax Cuts and Jobs Act designated Opportunity Zone, to support increased resiliency of the University’s electrical system. Hardening this infrastructure is critical to the continued operation of the campus, a major employer in the county with 854 full time employees, and has a $160-million-dollar impact on York County, South Carolina. This project will support job retention and business expansions, which will result in new higher paying jobs and additional employment throughout the region.
  - $1,100,000 in 2018 Disaster Supplemental funding to the TruFund Financial Services, Inc., New York/New York County, New York (project is located in Houston/Harris County, Texas), to support the development of a technical assistance program to assist entrepreneurial business development opportunities for small and minority-women owned businesses in the Houston, Texas region. The TruFund Disaster Resiliency Program will address disadvantages for these businesses that are still recovering from Hurricane Harvey by providing business assessments, small group training sessions, counseling and professional consultant services, access to capital, ecosystem engagement, disaster recovery and business resiliency planning and preparation, and contractor education. The investment will bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
- $1,050,000 in nine 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.