Grant

March 16 - 20, 2020

  • EDA announced 12 investments from March 16-20, 2020, totaling $3,380,900, which is matched by $1,537,637 in local investments. These investments include the following: (1) $1,990,400 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, which includes two investments for $1,850,400 that will help create 210 jobs and save 40 jobs; (2) $345,000 in one Local Technical Assistance project to strengthen the capacity of local or state organizations and institutions to undertake and promote effective economic development programs; and (3) $1,045,500 in eight Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
    • $1,990,400 in three Economic Adjustment Assistance projects, matched by $703,470 in local investments, as follows:
      • $1,500,400 in 2019 Disaster Supplemental funding, matched by $499,600 in local investment, to the North Dakota State University Research & Technology Park, Fargo/Cass County, North Carolina, to fund the acquisition of tools and equipment necessary for a newly retrofitted makerspace at North Dakota State University Research and Technology Park in Fargo County, North Dakota. This project will help the region recover from the Spring Floods of 2019 and reinforce the need for regional economic diversification by providing a space for students, members of the public, and clients of a nearby incubator to test the technical viability of their ideas. Once completed, the project will support the development of a more diversified agricultural technology driven ecosystem with an emphasis on entrepreneurship, which will strengthen the regional economy, support private investments, and create jobs. The grantee estimates that this investment will help create 180 jobs.
      • $350,000, matched by $168,870 in local investment, to the Venture Café Foundation, Charlestown/Suffolk County, Massachusetts, to support the Venture Café Foundation with providing business development and entrepreneur educational programs at the Roxbury Innovation Center in Suffolk County, Massachusetts, a designated Opportunity Zone. The project will provide a pathway for entrepreneurs to move at their own pace through workshops, skills training, mentorship, and business plan development, which can lead towards access to capital and business acceleration. Once completed, the project supports a vibrant shared workspace for program participants, which will help generate new businesses, create jobs, and drive economic growth throughout the region. The grantee estimates that this investment will help create 30 jobs and save 40 jobs.
      • $140,000 in 2019 Disaster Supplemental funding, matched by $35,000 in local investment, to the Grand Gateway Economic Development Association, Big Cabin/Craig County, Oklahoma, to support the Grand Gateway Economic Development Association with hiring a disaster resiliency coordinator to assist with recovery efforts from the 2018 storms and flooding that impacted Nowata, Craig, Ottawa, Rogers, Mayes, and Delaware Counties in Oklahoma. The disaster resiliency coordinator will collaborate with regional stakeholders to expand capacity that will help support disaster recovery initiatives and develop a comprehensive regional disaster mitigation plan. Once completed, the project will result in the region having a resource to prepare for response to and recovery from future disasters, which will create economic resiliency and provide sustainable jobs throughout the region.
    • $345,000 in one Local Technical Assistance project, matched by $125,000 in local investment, to the National Association of Development Organizations (NADO) Research Foundation, Washington/District of Columbia, to support the NADO Research Foundation with providing training through the Economic Development District (EDD) Training Program for Emerging Leaders and the Southwest Region Economic Development Association Annual Training Conference. The project will provide comprehensive practical and best practice training and learning experiences to EDD staff across the region. Additionally, the project will offer unique and specific training to emerging leaders of EDD staff that will take on leadership roles in the near future, which will help strengthen the effectiveness of regional economic development partners to build capacity, increase investments, and promote further regional economic growth and competitiveness.
    • $1,045,500 in eight Partnership Planning projects, matched by $709,167 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.