Grant

May 3 - 9, 2019

EDA announced 10 investments from May 3-9, 2019, totaling $4,508,344, which is matched by $3,352,151 in local investments. These investments include the following: (1) $3,758,344 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 projects for $3,398,344 that will help create 120 jobs and leverage $8,920,000 in private investment, and (2) $750,000 in six Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $3,758,344 in four Economic Adjustment Assistance projects as follows:
  - $2,720,000 in 2018 Disaster Supplemental Funding, matched by $2,262,423 in local investment, to the Homes of Hope, Inc., the Center for Heirs’ Property Preservation, the South Carolina Association for Economic Development, and the City of North Charleston, Greenville/Greenville County, South Carolina, to fund the renovation of an existing building to serve as an incubator and training facility in North Charleston, South Carolina. The facility will provide services to small businesses such as training and planning, industry mentoring, market development, networking and collaborations, and financial advisory services to assist the region in economic recovery from Hurricane Irma. The investment will help small businesses become more resilient, diversify the regional economy and create jobs. The grantees estimate that this investment will help create 45 jobs and leverage $3,920,000 in private investment.
  - $678,344 in Assistance to Coal Communities funds, matched by $452,228 in local investment, to the Hatfield McCoy Regional Recreation Authority, Man/Logan County, West Virginia, to support expansion of the Hatfield McCoy Trail System. The project will help open more than 185 miles of new Hatfield McCoy Trails in Lincoln, McDowell, and Wyoming counties. Completion of the project will lead to job creation and serve as a catalyst for economic development in the southern West Virginia communities that has been impacted by the decline in the coal industry. The grantee estimates that this investment will help create 75 jobs and leverage $5,000,000 in private investment.
  - $290,000, with no local match, to the Seneca Nation of Indians, Irving/Chautauqua County, New York, to support the Seneca Nation to conduct a detailed deployment strategy, feasibility study, and engineering plans to install broadband fiber throughout the Cattaraugus territory located in a designated Opportunity Zone in western New York. Results of this study will provide essential information to support the region’s effort in building a broadband system to diversify its economy and increase its high speed Internet services, which will help sustain and grow businesses throughout the region.
  - $70,000, matched by $70,000 in local investment, to the Region Six Planning Commission, Marshalltown/Marshall County, Iowa, to fund the hiring of a business disaster recovery case coordinator to provide disaster recovery and resilience-building support to a designated Opportunity Zone in Marshalltown, Iowa. The coordinator will manage recovery projects responsive to damage caused by an EF-3 tornado and assist the business community with developing a plan that will lead the region forward.
- $750,000 in six Partnership Planning projects, matched by $567,500 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.