Spotlight: EDA Awards its First CARES Act Grant to Three Rivers Planning and Development District in Pontotoc, Mississippi, to Help Combat Economic Effects of COVID-19
On June 16, EDA awarded its first Coronavirus Aid, Relief, and Economic Security (CARES) Act Recovery Assistance grant in the amount of "$400,000 to the Three Rivers Planning & Development District, in Pontotoc, Mississippi. The grant will be used to hire a Disaster Recovery Coordinator, update economic development plans with business and industry leaders, and fortify programs to assist communities in responding to the coronavirus pandemic.
Three Rivers Planning & Development District is one of the more than 850 existing, high-performing EDA Economic Development District, University Center, Tribal, and Revolving Loan Fund (RLF) grant recipients invited to apply for supplemental funding under the CARES Act. As an EDA-designated EDD, Three Rivers helps to lead the locally-based, regionally driven economic development planning process that leverages the involvement of the public, private and non-profit sectors to establish a strategic blueprint for regional collaboration.
Along with many other communities across our nation, the region that Three Rivers serves has suffered severe economic dislocation caused by the novel coronavirus. Specifically, Three Rivers will use the new CARES Act funding to hire a recovery coordinator who will help create a new development plan and partner with businesses and economic development leaders across the region.
“We are grateful for our federal partners’ support throughout this unprecedented pandemic as we work to protect the health and well-being of all who call Mississippi home,” said Governor Tate Reeves. “This grant to the Three Rivers Planning & Development District will help boost our recovery efforts for Northeast Mississippi and our state as a whole. Investing in our economic development, we will rebuild and emerge stronger than ever.”
The CARES Act, signed into law by President Donald J. Trump, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to the coronavirus pandemic. On May 7, Secretary Ross announced that EDA is accepting applications for CARES Act Recovery Assistance funding opportunities.
EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) program (PDF), provides a wide-range of financial assistance to communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
Shortly after this announcement was made, EDA made the first investments in the other five regional offices in the states of Alaska, Pennsylvania, Missouri, Illinois, and Texas. Overall, the first six EDA CARES Act grants announced totaled $2.3 million.
For complete information, please visit our recently updated EDA CARES Act Recovery Assistance page.