Grant

May 19 - 23, 2014

$784,769 in Economic Adjustment funds to the Coachella Valley Economic Partnership, Palm Springs, California, to support the renovation of four buildings on the west side of the Palm Springs International Airport into a business accelerator for entrepreneurs. The facility will provide work space for start-ups increasing their capacity to expand and create jobs. This project supports economic diversification in the Coachella Valley region’s growing renewable energy cluster. This investment is part of a $1,784,769 project that the grantee estimates will create 65 jobs and leverage $4 million in private investment.
$500,000 in Economic Adjustment funds to the Lane Council of Governments, Eugene, Oregon, to recapitalize a Lane County Revolving Loan Fund and support an expansion of services for small, medium-sized, and ethnically diverse enterprises in rural Lane County. This increase in lending ability will target manufacturing and other key sectors to diversify the economy and add high-skill high-wage jobs. This investment is part of a $1 million project that the grantee estimates will create 40 jobs and provide increased access to capital.
$209,270 in Economic Adjustment funds to the City of Prestonsburg, Kentucky, to construct roadway infrastructure into the Stone Crest Industrial Park in the City of Prestonsburg to support expansion of one of the park’s tenants. The roadway will serve a health care facility that will provide critical rehabilitation services to the region. This investment is part of a $377,083 project that the grantee estimates will create 95 jobs and leverage $5 million in private investment.