U.S. Department of Commerce Invests $3.9 Million in CARES Act Recovery Assistance to Support Pandemic Response and Resiliency Efforts in Virginia
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $3.9 million in CARES Act Recovery Assistance grants to help communities and businesses in Virginia respond to the coronavirus pandemic.
“President Biden is committed to helping communities grow their critical business clusters to ensure that they not only recover from the coronavirus pandemic but build back stronger,” said Secretary of Commerce Gina Raimondo. “These EDA investments will deliver critical support to businesses in Virginia allowing for job creation and economic opportunities.”
“EDA is committed to helping communities across Virginia fight economic hardships brought on by COVID-19,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “These EDA investments will update and expand utility services and support the long-term resiliency of the regional economy in Virginia.”
“Virginia is emerging very strong from the pandemic, with unemployment dropping and revenue rising,” said Governor Ralph Northam. “These grants will help supercharge our efforts to help families and businesses participate in a broad-based, equitable recovery. It's good to have partners in Washington who believe in investment, infrastructure, and planning for the future.”
“The COVID-19 health crisis has taken an unprecedented economic toll across the Commonwealth,” said Senator Mark Warner. “To help mitigate the economic hardships caused by this pandemic, Congress came together to pass the CARES Act to support our communities in their efforts to recover and rebuild. I’m pleased to announce these critical CARES Act funds will go towards much-needed revitalization projects to help create jobs and boost economic opportunity.”
“I’m glad to see the CARES Act provide these significant investments to help communities and businesses in the Commonwealth respond to COVID-19,” said Senator Tim Kaine. “I’ll continue to push for additional relief to support those who’ve been struggling amid the pandemic.”
“I'm very glad to see this close to one million dollars come into Richmond because of the CARES Act,” said Congressman A. Donald McEachin (VA-04). “Grants such as this will help our economy recover and help Richmonders get and keep good-paying jobs. I will continue to advocate for funding and support as we recover from this damaging pandemic.”
The EDA investment announced today are:
- The city of Martinsville, Virginia, will receive a $3 million EDA CARES Act Recovery Assistance grant to provide expanded and reliable sanitary sewer service that will spur economic opportunity. The project, to be matched with $750,000 in local funds, is expected to create 400 jobs, save 3,500 jobs and generate $25 million in private investments.
- Virginia Economic Development Partnership, located in the capital city of Richmond, Virginia, will receive a $960,000 EDA CARES Act Recovery Assistance grant to address the economic development needs of state and regional developers adversely affected by the pandemic and to attract businesses post-COVID-19.
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.