U.S. Department of Commerce Invests $2.8 Million in CARES Act Recovery Assistance to Support Economic Growth and Resiliency Efforts in Missouri
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $2.8 Million in CARES Act Recovery Assistance grants to help the state of Missouri prevent, prepare for, and respond to coronavirus.
“EDA is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the coronavirus pandemic,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “These EDA investments will provide support and resources for small businesses to recover from the pandemic, strengthen workforce development programs, secure critical gap financing for businesses in Southwest Missouri, and support training, education, and assistance to create a more resilient manufacturing industry in the state.”
“COVID-19 has had an unprecedented impact on our economy, but we are already seeing strong signs of recovery,” said Governor Mike Parson. “These investments from the EDA will provide even more assistance as we continue working to rebuild our economy, strengthen our workforce, and support businesses and communities across the state.”
“Small businesses and manufacturers employ over a million Missourians and play a significant role in driving our economy,” said Senator Roy Blunt. “This investment will help small businesses overcome the significant challenges caused by COVID-19. In addition, the grant funding will support workforce development and other initiatives that will create jobs and strengthen our manufacturing sector for years to come. I’m glad the funding Congress provided in the CARES Act continues to help Missouri businesses and workers during these difficult times.”
“I’m thrilled to see another $1.2 million from CARES Act funding go toward economic development and job creation in the Fifth Congressional District of Missouri,” said Congressman Emanuel Cleaver (MO-05). “Small businesses have been decimated by COVID-19, and while there is light on the horizon, we aren’t out of the woods yet. Investments like this grant funding are critical to keeping small businesses afloat during the pandemic and ensuring a shorter road to recovery once we defeat the devilish coronavirus. As Congress works to bring more relief to American families, workers, and small businesses, I will continue to push for funding that meets the scale of the challenge facing our nation and the people of Missouri.”
The EDA investments announced today are:
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.