Grant

October 12 - 16, 2020

EDA announced five investments from October 12-16, 2020, totaling $16,852,557, which is matched by $18,733,663 in local investments. These investments include the following: (1) $150,000 in one Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Project to help alleviate sudden and severe economic dislocation caused by the coronavirus pandemic; (2) $15,452,557 in three 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 that will help create 725 jobs, save 101 jobs; and leverage $210,200,000 in private investments; and (3) $1,250,000 in one Public Works project to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 1,525 jobs.
- $150,000 in one Economic Adjustment Assistance-COVID- 19 Recovery and Resiliency Projects, matched by $37,500 in local investments, as follows:
  - $150,000, matched by $37,500 in local investment, to the Northern Middlesex Council of Governments, Lowell/Middlesex County, Massachusetts, to support the Northern Middlesex Regional Council of Governments with responding to the economic injury caused by COVID-19 within the Greater Lowell Region in Middlesex County, Massachusetts. The project will create an economic recovery and resiliency plan and provide technical assistance to help bolster the Greater Lowell region's ability to withstand economic shocks and enhance the region’s capacity to withstand future economic disruptions. Once implemented, the plan will help with recovery efforts from the COVID-19 pandemic and enable the region to be prepared for future natural and economic disasters, which will advance economic resiliency throughout the region.
- $15,452,557 in three Economic Adjustment Assistance projects, matched by $16,727,493 in local investments, as follows:
  - $7,777,770 in 2019 Disaster Supplemental funding, matched by $14,444,430 in local investment, to the Bioscience and Technology Business Center, Inc., Lawrence/Douglas County, Kansas, to support the phase III expansion of the Bioscience and Technology Business Center at Kansas University in Douglas County, Kansas, a designated Opportunity Zone. The bioscience and technology incubator facility will provide critically needed and highly specialized wet-lab space for the development of bioscience companies, as well as modern office space for high-tech, high-growth business enterprises. In addition, the incubator will assist the region with recovery efforts from severe floods that impacted the region. Once completed, the project will promote entrepreneurialism and research opportunities, bolster job creation, attract private investment, and advance economic resiliency throughout the region. The grantee estimates that this investment will help create 225 jobs, save 101 jobs, and leverage $142,200,000 in private investment.
  - $4,809,787 in 2019 Disaster Supplemental funding, matched by $1,566,813 in local investment, to the City of Moberly, Moberly/Randolph County, Missouri, to support the City of Moberly with water infrastructure upgrades in Randolph County, Missouri, an area hard hit by spring flooding in 2019. The project will replace the existing 14-inch and 10-inch cast iron water mains along Sturgeon and Rollins Streets with approximately 5,450 feet of new 16-inch PVC water mains. Also, the project will install reliable main feeder lines from the water treatment plant to elevated storage tanks, which will help fill the critical need for increased water capacity for business expansion in a designated Opportunity Zone. Once completed, the project will build resiliency, retain existing employers, attract new businesses, mitigate the effects of future natural disasters, and strengthen the regional economy. The grantee estimates that this investment will help create 200 jobs and leverage $68,000,000 in private investment.
  - $2,865,000 in 2019 Disaster Supplemental funding, matched by $716,250 in local investment, to the City of Weatherford/Weatherford Industrial Trust, Weatherford/Custer County, Oklahoma, to support the City of Weatherford with providing critical infrastructure to expand the Weatherford Business & Technology North Park industrial site in Custer County, Oklahoma. The expansion of Weatherford Business and Technology Park will improve economic resilience and support long-term recovery efforts from natural disasters at the local level by providing opportunities for more manufacturing business to invest and locate to the region. Once completed, the project will bolster job creation, spur private investment and advance economic resiliency throughout the region. The grantee estimates that this investment will help create 300 jobs.
- $1,250,000 in one Public Works project, matched by $1,968,670 in local investment, as follows:
  - $1,250,000, matched by $1,968,670 in local investment, to the Ardmore Development Authority, Ardmore/Carter County, Oklahoma, to support the Ardmore Development Authority with providing critical infrastructure in the Ardmore Industrial Airpark, located within a former air force base and in a Foreign Trade Zone in Carter County, Oklahoma. The project will upgrade a large portion of the water supply system at the airpark with a focus on operations and future development and will also include the removal of the existing system and installation of new eight- and ten-inch water main lines, valves, boxes, and connections. Once completed, the project will allow foreign import access to a dedicated air cargo facility, to help catalyze investments in a nearby Opportunity Zone, which will lead to job creation and promote economic resiliency throughout the region. The grantee estimates that this investment will help create 1,525 jobs.