Grant

May 11 - 15, 2020

  • EDA announced seven investments from May 11-15, 2020, totaling $2,321,294, which is matched by $1,309,767 in local investments. These investments include the following: (1) $1,384,944 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 two investments totaling $898,500 that will help create 27 jobs and leverage $2,003,000 in private investments; (2) $748,500 in one Public Works project to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 15 jobs and leverage $700,000 in private investment; (3) $112,850 in one Technical Assistance University Center project to make the varied and vast resources of universities available to the economic development practitioner community; and (4) $75,000 in one Partnership Planning project to support the development and implementation of the Comprehensive Economic Development Strategy process.
    • $1,384,944 in four Economic Adjustment Assistance projects, matched by $373,417 in local investments, as follows:
      • $800,000 in 2019 Disaster Supplemental funds, matched by $200,000 in local investment, to the West River Foundation for Economic and Community Development, Sturgis/Meade County Missouri, to support the Foundation with establishing a Revolving Loan Fund to support recovery and rebuilding efforts following a natural disaster that hit Bennett, Butte, Custer, Fall River, Meade, Pennington, and Perkins Counites 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, which will help support disaster mitigation, bolster economic diversification, create jobs, and strengthen the regional economy. The grantee estimates that this investment will help create 27 jobs and leverage $2,000,000 in private investment.
      • $240,000, matched by $60,000 in local investment, to the South Carolina Rural Infrastructure Authority, Columbia/Richland County, South Carolina, to fund a statewide infrastructure assessment of the technical, managerial, operational and financial needs of public water and sewer systems in South Carolina. The project will help increase water and sewer system capacity throughout the state, which will enhance community resiliency in the aftermath of future disasters and strengthen the regional economy.
      • $246,444 in 2018 Disaster Supplemental funds, matched by $61,676 in local investment, to the City of Doniphan, Doniphan/Ripley County, Missouri, to support the city of Doniphan with improving infrastructure and stabilizing the Quick Creek bank to address the local and regional need for flood mitigation in Ripley County, a designated Opportunity Zone. The improvements will help maintain business continuity and attract future investment by protecting the value of the area and reducing risks associated with major flood events, which will strengthen the region’s economic resiliency and create jobs for long-term economic stability.
      • $98,500 in Assistance to Coal Communities, matched by $51,741 in local investment, to the Mingo County Redevelopment Authority, Williamson/Mingo County, West Virginia, to support the completion of a Master Plan for development of the Air Transportation Park in Mingo County. By analyzing costs and road, water and sewer infrastructure impact, the study will lay the groundwork for economic diversification throughout the region. Once completed, the project will promote business resiliency in coal communities, attract private investment, and create jobs throughout the region. The grantee estimates that this investment will help leverage $3,000 in private investment.
    • $748,500 in one Public Works project, matched by $748,500 in local investment, as follows:
      • $748,500, matched by $748,500 in local investment, to the Town of Prattsburgh, Prattsburgh/Steuben County, New York, to fund construction of a wastewater collection system and refurbishment of a wastewater treatment infrastructure that is currently serving the Prattsburgh School District campus in Steuben County. Once completed, this project will be essential in supporting a local telephone company with expanding and creating skilled technical and professional employment opportunities, which will attract private investment and strengthen the regional economy. The grantee estimates that this investment will help create 15 jobs and leverage $700,000 in private investment.
    • $112,850 in one Technical Assistance University Center project, matched by $112,850 in local investment, to support the third year of a five-year University Center Economic Development Program at the University of Texas at Tyler, which is a competitively-based partnership between EDA and academic institutions that makes the varied and vast resources of universities available to the economic development practitioner community.
    • $75,000 in one Partnership Planning project, matched by $75,000 in local investment, 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.