U.S. Department of Commerce Invests $2.5 Million in CARES Act Recovery Assistance to Aid Reopening of Tourism Economy in St. Louis, Missouri
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $2.5 Million CARES Act Recovery Assistance grant to the St. Louis Regional Convention and Visitors Commission, St. Louis, Missouri, to aid in the re-opening of the region’s tourism economy. This EDA grant, to be matched with $250,000 in local investment, is expected to create 637 jobs and retain 81 jobs.
“EDA is committed to helping communities across the nation fight economic hardships brought on by COVID-19,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “EDA is pleased to invest this CARES Act funding to provide resources to the Convention and Visitors Commission to allow St. Louis’ tourism industry to rebound and recover.”
“COVID-19 has had an unprecedented impact on our economy, but we are already seeing strong signs of recovery,” said Governor Mike Parson. “This investment in the St. Louis region will provide important assistance as we continue working to rebuild Missouri’s tourism industry and prioritize the health and safety of our citizens, businesses, and communities.”
“The St. Louis Regional Convention and Visitors Commission is highly effective in attracting visitors to this great city,” said Senator Roy Blunt. “In an ordinary year, the organization’s activities – like bringing conventions, tourists, and sporting events to St. Louis - contribute billions of dollars to the local economy. I’m glad this investment will help the city’s tourism industry overcome the challenges of this pandemic.”
“Our local tourism economy has been hit hard by the COVID-19 pandemic and this $2.5 million grant will help the St. Louis Regional Convention and Visitors Commission aid in the recovery of our local businesses who are in need,” said Congresswoman Ann Wagner. “Funding like this will help our businesses safely reopen and get employees back to work. I fought for these Recovery Assistance Grants in the CARES Act and I am grateful to see this critical funding being used to support businesses and workers here in St. Louis.”
This project will create an integrated marketing campaign to help tourism-dependent businesses recover and re-open from the effects of the coronavirus pandemic and will also allow America’s Center Convention Complex to safely resume operations in a pandemic environment when events are able to resume.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.