Grant

March 23 - 27, 2020

  • EDA announced 11 investments from March 23-27, 2020, totaling $7,026,935, which is matched by $8,612,614 in local investments. These investments include the following: (1) $2,000,000 in one Economic Adjustment Assistance project 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 that will help create 520 jobs, save 18 jobs, and leverage $53,000,000 in private investment; (2) $3,683,935 in two Public Works projects to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 106 jobs and leverage $12,600,000 in private investment; and (3) $1,343,000 in eight Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
    • $2,000,000 in one Economic Adjustment Assistance project, matched by $5,274,157 in local investment, as follows:
      • $2,000,000 in 2019 Disaster Supplemental funding, matched by $5,274,157 in local investment, to the Lenoir Community College/Lenoir County, Kinston/Lenoir County, North Carolina, to fund the renovation and expansion of the Lenoir Community College’s Lloyd Health Science Building, to include constructing a two-story classroom/lab extension on its existing infrastructure in Lenoir County, North Carolina. The project will help the region with recovering from the destruction of Hurricanes Matthew and Florence by meeting the growing health science needs and addressing the critical healthcare operations throughout eastern North Carolina. Once completed, the project will promote higher paying jobs in the healthcare industry, attract private investment, and bolster economic resiliency throughout the region. The grantees estimate that this investment will help create 520 jobs, save 18 jobs, and leverage $53,000,000 in private investment.
    • $3,683,935 in two Public Works projects, matched by $2,455,957 in local investments, as follows:
      • $2,558,935, matched by $1,705,957 in local investment, to the Valdosta and Lowndes Chamber of Commerce, Valdosta/Lowndes County, Georgia, to fund the renovation of the Valdosta Area Business Incubator in Lowndes County, Georgia, a designated Opportunity Zone. This project renovates the second and third floors of the incubator, repairs exterior masonry, and replaces the roof in order to provide small business start-ups with space for communications and expansion. Once completed, this project will promote economic growth and development, spur private investment, and create jobs throughout the region. The grantee estimates that this investment will help create 81 jobs and leverage $9,700,000 in private investment.
      • $1,125,000, matched by $750,000 in local investment, to Jasper County, Ridgeland/Jasper County, South Carolina, to fund critical roadway and stormwater infrastructure improvements to support the U.S. Highway 278 corridor in Jasper County, South Carolina. The project will increase the region’s competitiveness in attracting, expanding, and retaining light industrial businesses, which will help the region become resilient against future disasters, create jobs, attract private investment, and strengthen the reginal economy. The grantee estimates that this investment will help create 25 jobs and leverage $2,900,000 in private investment.
    • $1,343,000 in eight Partnership Planning projects, matched by $882,500 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.