Grant

September 2 - 6, 2019

EDA announced 17 investments from September 2-6, 2019, totaling $9,888,033, which is matched by $5,510,567 in local investments. These investments include the following: (1) $6,438,950 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 $4,400,000 that will help create 10,900 jobs and leverage $1,700,000,000 ($1.7 billion) in private investment; (2) $2,224,420 in two Public Works projects to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 385 jobs and leverage $60,140,000 in private investment; (3) $659,000 in six Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process; and (4) $565,663 in five Technical Assistance University Center projects to make the varied and vast resources of universities available to the economic development practitioner community.
- $6,438,950 in four Economic Adjustment Assistance projects, matched by $1,713,950 in local investments, as follows:
  - $4,400,000 in 2018 Disaster Supplemental funds, matched by $1,100,000 in local investment, to the city of East Palo Alto, East Palo Alto/San Mateo County, California, to fund the construction of critical storm water infrastructure in the city of East Palo Alto, California, to mitigate the aftermath of the 2017 floods. The upgrades and improvements to the water facilities and lines will help prevent future flooding and bring economic stability to the Ravenswood Redevelopment Area, which is located in an Opportunity Zone. Once completed, the project will promote business resiliency, attract private investment, and create jobs throughout the region. The grantee estimates that this investment will help create 10,900 jobs and leverage $1,700,000,000 ($1.7 billion) in private investment.
  - $1,500,000 in 2018 Disaster Supplemental funds, matched by $375,000 in local investment, to the East Montgomery County Improvement district, New Caney/Montgomery County, Texas, to support the East Montgomery County Improvement District (EMCID), with the construction of an office building on its existing industrial park in Montgomery County, Texas. The new infrastructure will facilitate job creation and retention, which will help EMCID recover from the impact of Hurricane Harvey by promoting growth and economic development. Once completed, this project will help increase private investment, employment, and economic diversity throughout the region.
  - $400,000 in 2018 Disaster Supplemental funds, matched by $100,000 in local investment, to the International Economic Development Council, Washington, DC (project located in Saint Thomas/Saint Thomas, Virgin Islands), to support the International Economic Development Council with expanding the post-disaster Hurricanes Irma and Maria recovery program through the provision of technical assistance to businesses in the U.S. Virgin Islands and Puerto Rico. The program will focus on recovering and strengthening the commercial, manufacturing, retail, construction and business services in designated Opportunity Zones within the area. Once in place, the program will help create strengthen regional economies, increase resiliency, encourage private capital investment, and create jobs.
  - $138,950 in Assistance to Coal Communities, matched by $138,950 in local investment, to the city of Kemmerer, Kemmerer/Lincoln County, Wyoming, to fund the hiring of an Impact Manager to conduct a study and implement the findings of the study, to address the local and regional need for economic diversification in Kemmerer. Once completed, the study will assist the region in identifying new markets for existing resources, which will create new opportunities and attract private investments to an area that has been impacted by the decline in the coal industry.
- $2,224,420 in two Public Works projects, matched by $3,008,551 in local investments, as follows:
  - $2,000,000, matched by $2,912,371 in local investment, to Pulaski County, Little Rock/Pulaski County, Arkansas, to fund infrastructure improvements to Zeuber Road in support of future industrial development in Pulaski County. This project will grow the U.S. exports and increase foreign direct investment in addition to enhancing the commuting area in Little Rock Port Authority, Industrial Park. Once completed, this investment will expand the transportation network that serves vital industries, which will strengthen the regional economy, support private capital investment and create jobs. The grantee estimates that this investment will help create 357 jobs and leverage $60,000,000 in private investment.
  - $224,420, matched by $96,180 in local investment, to Hancock County, Sneedville/ Hancock County, Tennessee, to fund necessary infrastructure to complete the paving of the parking lot for the newly constructed Hancock Call Center, which is located in a designated Opportunity Zone in Sneedville. The improvements will enable companies to expand their existing businesses and accommodate future business development, which will attract private investments, create jobs, and diversify the local economy. The grantee estimates that this investment will help create 28 jobs and leverage $140,000 in private investment.
- $659,000 in six Partnership Planning projects, matched by $218,791 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.
- $565,663 in five Technical Assistance University Center projects, matched by $569,275 in local investments, to support a five-year University Center (UC) program, 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.