Grant
April 29 - May 4, 2022
EDA announced six investments from April 29 to May 4, 2022, totaling $4,016,800, which is matched by $2,923,200 in local investments. These investments include the following: (1) $3,066,800 in two Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects to help alleviate sudden and severe economic dislocation caused by the coronavirus pandemic, which includes one project for $2,986,800 that will help create 50 jobs, save 10 jobs, and leverage $5,000,000 in private investment; (2) $400,000 in one American Rescue Plan Economic Adjustment Assistance project to assist communities nationwide in their efforts to respond to and recover from the devastating impacts to the economy caused by the COVID-19 pandemic; (3) $115,000 in one Economic Adjustment Assistance project 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; and (4) $435,000 in two Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $3,066,800 in two Economic Adjustment Assistance COVID-19 Recovery and Resilience Projects, matched by $2,273,200 in local investments, as follows:
- $2,986,800, matched by $2,253,200 in local investment, to the Merit Network, Inc., Ann Arbor/Washtenaw County, Michigan, to support the construction of a 70-mile fiber optic infrastructure that will serve as the interconnection backbone passing through the Eastern Upper Peninsula of Michigan. The project will assist Merit Network, a non-profit, member-owned, and university-operated organization, with furthering the Leveraging Infrastructure for Transforming the Upper Peninsula (LIFT-UP) initiative, which provides middle-mile infrastructure to local internet service providers. The project will build out the last-mile connections and serve remote and underserved regions, which include businesses, educational institutions, healthcare providers, and residents. With reliable high-speed internet access, the region can embrace new forms of healthcare and educational services delivery in response to the challenges faced during the COVID-19 pandemic, which will make the region more resilient to future shocks, and more effectively attract and retain businesses and jobs to boost economic resiliency throughout the region. The grantee estimates that this investment will help create 50 jobs, save 10 jobs, and leverage $5,000,000 in private investment.
- $80,000, matched by $20,000 in local investment, to the City of Youngstown, Youngstown/Mahoning County, Ohio, to fund the Crab Creek Corridor Redevelopment Study, to provide a roadmap for blight remediation and antiquated infrastructure to create thriving economic conditions for 1,200 acres of land that comprises the last of Youngstown's industrial districts in Ohio. The study will address current and future assets, challenges, and capabilities to lead to marketable industrial sites. Once completed, the project will create equitable economic opportunity to help impacts of COVID-19 in the area, which will help revitalization for the district and economic resiliency throughout the region.
- $400,000 in one American Rescue Plan project, matched by $100,000 in local investment, as follows:
- One Travel, Tourism, and Outdoor Recreation Project for $400,000 to help accelerate the recovery of the travel, tourism and outdoor recreation industry and build back the communities that depend on the industry.
- $400,000, matched by $100,000 in local investment, to Grand County, Hot Sulphur Springs/Grand County, Colorado, to fund the Grand County Tourism Revitalization Project, to support the recovery and resilience of Grand County's tourism and outdoor recreation economy, the dominant economic driver in the county. The project will help the county extend the current summer and winter tourism seasons year-round and diversify the tourism sector by highlighting often overlooked tourist and outdoor reaction attractions in Colorado. By doing this, more stable, year-round jobs will be created, new business opportunities will arise to fill the gap of those that closed during the coronavirus pandemic and struggling businesses will receive needed support and promotion to grow. Once completed, the project will help increase employment opportunities, spur private investment, and advance economic resiliency throughout the region.
- One Travel, Tourism, and Outdoor Recreation Project for $400,000 to help accelerate the recovery of the travel, tourism and outdoor recreation industry and build back the communities that depend on the industry.
- $115,000 in one Economic Adjustment Assistance project, matched by $115,000 in local investment, as follows:
- $115,000, matched by $115,000 in local investment, to the West Piedmont Planning District Commission, Martinsville/Henry County, Virginia, to support the development of a regional agritourism and agribusiness program, to identify agricultural assets, evaluate opportunities for enhancements, improvements, and expansions, and create an asset inventory to include location(s), products, services offered, and on-line presence in Martinsville, Virginia. The asset inventory will be used to create a regional website for marketing and promotion of activities and businesses. Once completed, the project will support business growth in the area, help advance long term economic vitality and sustainability, bolster job creation, attract private investment, and strengthen the regional economy.
- $435,000 in two Partnership Planning projects, matched by $435,000 in local investments, to support the development and implementation of a comprehensive economic development strategy (CEDS). 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.