U.S. Department of Commerce Invests $3.4 Million in CARES Act Recovery Assistance to Boost Tourism and Manufacturing Growth Efforts in Tennessee
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $3.4 million in CARES Act Recovery Assistance grants to help the state of Tennessee prevent, prepare for, and respond to coronavirus by supporting local tourism and manufacturing growth strategies.
“The Biden Administration is committed to getting our tourism sector back up to speed and Americans back to work,” said Secretary of Commerce Gina Raimondo. “The EDA investments announced today will aid in the reopening of Tennessee’s tourism economy and provide the critical infrastructure needed to support the establishment of a major manufacturing facility in Tiptonville.”
“The Economic Development Administration 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 make Tennessee’s economy more resilient by supporting a targeted marketing plan to grow Tennessee’s tourism industry and by delivering the infrastructure upgrades needed to boost the state’s manufacturing sector.”
“Tennessee is a bustling hub for tourists. The new EDA CARES Act funding will facilitate recovery in the tourism sector and strengthen the Volunteer State's infrastructure,” said Senator Marsha Blackburn. “This grant is a much-needed boost for Tennessee businesses and residents.”
“I am pleased that Nashville and Tiptonville will be benefiting from the bipartisan CARES Act Recovery Assistance grants,” said Senator Bill Hagerty. “Prioritizing the growth of the tourism industry in Nashville, which has suffered significant economic hardship due to the pandemic, and investing in much-needed infrastructure improvements in Tiptonville will provide significant support for these communities as Tennessee works to recover and reopen, and build sustainable economic growth for years to come.”
“This funding is critical to restarting Tennessee and with the funding expected from the American Rescue Plan brings nearly $65B in total federal COVID-19 relief to Tennesseans,” said Congressman Jim Cooper (TN-05). “It will help the reopening our industries and attractions that make Nashville so awesome. I will continue doing everything I can to get Middle Tennessee back on its feet and help the Biden Administration deliver to Americans.”
“This CARES Act funding is great news for West Tennessee and will help our local communities rebuild following COVID-19 hardships,” said Congressman David Kustoff (TN-08). “Importantly, this investment in the Port of Cates Landing will help create jobs and economic investment. I would like to thank U.S. Secretary of Commerce Gina Raimondo for making West Tennessee a priority.”
The EDA investments announced today are:
These projects are 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.