Grant

April 27-May 1, 2020

EDA announced seven investments from April 27-May 1, 2020, totaling $20,552,466, which is matched by $7,719,522 in local investments. These investments include the following: (1) $17,592,466 in five 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 three investments totaling $15,500,000 that will help create 284 jobs and leverage $4,857,142 in private investments; (2) $2,750,000 in one Public Works project to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 360 jobs and leverage $9,350,000 in private investment; and (3) $210,000 in one Partnership Planning project to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $17,592,466 in five Economic Adjustment Assistance projects, matched by $4,829,522 in local investments, as follows:
  - $13,000,000 in 2018 Disaster Supplemental funds, matched by $2,350,000 in local investment, to the University of Puerto Rico-Ponce, Ponce/Ponce County, Puerto Rico, to support the University of Puerto Rico-Ponce with establishing a disaster resilient research and business facility to support high-growth businesses focused on the health and medical tourism industries. The project will serve as a high-performing, energy efficient, multiuse infrastructure that supports a business hosting and retention program for entities within a designated Opportunity Zone. Once completed, the project will help mitigate the direct effects of weather and utilities related interruptions and bolster business continuity, industrial diversification, create jobs, and provide long-term economic growth that will strengthen resiliency against future disasters. The grantee estimates that this investment will help create 30 jobs.
  - $1,542,186 in 2019 Disaster Supplemental funds, matched by $413,381 in local investment, to the Iowa Economic Development Authority, Des Moines/Polk County, Iowa, to support the Iowa Economic Development Authority of Des Moines, Iowa, with the development and integration of comprehensive disaster assessments and resiliency plans for Mills and Fremont counties. The project will help identify future land for the use of commercial, business growth, and sustainable community development. Once completed, the project will bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private investment, and create jobs throughout the region.
  - $1,500,000 in 2019 Disaster Supplemental funds, matched by $1,500,000 in local investment, to Johnston County and the Town of Four Oaks, Smithfield/Johnson County, North Carolina, to fund infrastructure improvements to extend sewer lines and loop the water transmission system within the I-95 Town of Four Oaks corridor in Johnston County, North Carolina. In addition, the project will provide the necessary public water and sewer infrastructure to serve a future warehouse, distribution, retail, and training campus. Once completed, the project will promote job creation, attract private investment, and build resiliency against future disasters. The grantees estimate that this investment will help create 161 jobs and leverage $2,000,000 in private investment.
  - $1,000,000, matched by $428,571 in local investment, to the East Central Idaho Planning and Development Association, Inc., Rexburg/Madison County, Idaho, to support the East-Central Idaho Planning & Development Association with establishing a rural revolving loan fund covering the counties of Butte, Clark, Custer, Fremont, Jefferson, Lemhi, Madison, and Teton in eastern Idaho. The project will provide access to working capital, which will help address the region’s need to strengthen the local workforce. Once completed, the project will promote the growth of rural small businesses, create jobs and help bolster economic diversification throughout the region. The grantee estimates that this investment will help create 93 jobs and leverage $2,857,142 in private investment.
  - $550,280 in 2019 Disaster Supplemental funds, matched by $137,570 in local investment, to the International Economic Development Council, Washington/District of Columbia, DC, to support the International Economic Development Council with providing technical assistance to communities impacted by 2018 and 2019 disasters in Iowa, Kansas, Missouri, Montana, Nebraska, North Dakota, and South Dakota. Once implemented, the project will meet the need for pre-and post-disaster planning by providing capacity-building services to address economic disruption in the impacted areas. The project will help support recovery and resiliency efforts, which will lead to regional economic growth.
- $2,750,000 in one Public Works project, matched by $2,750,000 in local investment, as follows:
  - $2,750,000, matched by $2,750,000 in local investment, to the Regents of the University of Colorado, Colorado Springs/El Paso County, Colorado, to support the Regents of the University of Colorado with the expansion and renovation of the University of Colorado’s cybersecurity building in El Paso County, Colorado. The project is located within a designated Opportunity Zone and will address the region’s need for strengthening the cybersecurity ecosystem by investing in a facility to house cybersecurity companies looking to expand within the region and create a pipeline of well-trained cybersecurity professionals. Once completed, the project will promote higher paying jobs, attract private investment, and strengthen the regional economy. The grantee estimates that this investment will help create 360 jobs and leverage $9,350,000 in private investment.
- $210,000 in one Partnership Planning project, matched by $140,000 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.