Grant

May 23 - 30, 2024

EDA announced 5 investments from May 23 – May 30, 2024, totaling $5,776,007 which is matched by $1,383,166 in local investments.  These investments include the following:

  1. $5,706,007 in four Economic Adjustment Assistance-2023 Disaster Supplemental projects to help regions that are experiencing severe economic distress or other economic hardship resulting from Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022 and help create/save 150 jobs and leverage $78 million in private investment.
  2. $70,000 in one Partnership Planning project to support the development and implementation of the Comprehensive Economic Development Strategy process.

 

  • $5,706,007 in four 2023 Disaster Supplemental projects, matched by $1,313,166 in local investments, as follows:
    • $140,860 to the Midcoast Council of Governments, Damariscotta/Lincoln County, ME to support the Midcoast Council of Governments with preparing a community informed and collaborative regional plan to address vulnerable road crossings in Damariscotta, Maine.  The plan will help the region foster economic resiliency, maintain the movement of goods and critical access, and prepare for future natural disasters.  In addition, the project will lay the groundwork for long-term economic vitality and strengthen the regional economy.
    • $2,328,000 to the Village of Ruidoso, Village of Ruidoso/Lincoln County, NM to support the Village of Ruidoso with planning and designing the restructure of the U.S. Highway 70 and NM Highway 48 intersection to improve access to the business district in Lincoln County, New Mexico, where traffic is currently over capacity.  The project work will also include making drainage improvements as well as property acquisition.  Once completed, the project will help support business and economic growth, spur economic resiliency, and create job opportunities throughout the region.
    • $2,600,000 to the Terrebonne Parish Consolidated Government, Houma/Terrebonne Parish, LA to support the Terrebonne Parish Consolidated Government with providing access to preventative health care and new high-quality jobs by designing and constructing a new water line to service the new Terrebonne General Hospital in Houma, Louisiana.  The project will bring state of the art healthcare technology created by the wellness facility and foster the development of new housing units and commercial development by private investors. Once completed, the project will lay the groundwork for long-term economic vitality and advance economic resiliency throughout the region. The grantee estimates that this investment will help create/save 150 jobs and leverage $78 million in private investment.
    • $637,147 to the San Jose State University Research Foundation, San Jose/Monterey County, CA to support the San Jose State University Research Foundation with establishing the Climate Change Resilience and Economic Capacity Building for Moss Landing Marine Laboratory project, to fund project feasibility, scheduling, and construction, as well as the hiring of specialists to perform geotechnical and environmental assessments in San Jose, California.  Once completed, the project will help strengthen the Moss Landing Marine Laboratory site against sea level rise and natural disasters, and serve as a commercial asset to the area, which will expand and diversify the region’s economic base and promote economic resiliency throughout the region.
  • $70,000 in one Partnership Planning project, matched by $70,000: 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.
    • $70,000 to the Southwestern Illinois Metropolitan and Regional Planning Commission, Fairview Heights/St. Clair County, IL to support the development and implementation of a comprehensive economic development strategy (CEDS) for the region served by the Southwestern Illinois Metropolitan and Regional Planning Commission, which comprises the counties of Bond, Clinton, Madison, Monroe, Randolph, St. Clair, and Washington.  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.