U.S. Department of Commerce Invests $3.8 Million in CARES Act Recovery Assistance to Support Tourism and Economic Recovery Efforts in Kentucky
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $3.8 million in CARES Act Recovery Assistance grants to help the state of Kentucky prevent, prepare for, and respond to the coronavirus.
“President Biden remains steadfast in his commitment to providing local communities with the resources necessary to ensure that they not only recover from this pandemic but builds back better,” said U.S. Secretary of Commerce Gina M. Raimondo. “These EDA investments will deliver critical support to businesses in Kentucky and help them recover from the economic impacts of the coronavirus pandemic.”
“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 grow businesses and create jobs by promoting tourism across the state and offering access to capital, training and outreach opportunities.”
“As we focus our efforts on building a stronger economy for our future, encouraging travel to Kentucky is critical for ensuring that every community in the commonwealth is positioned to thrive post COVID-19,” said Governor Andy Beshear. “The Biden Administration’s commitment to providing funding to one of the hardest hit industries by the pandemic reinforces our shared understanding of the vital role tourism plays in both federal and state economies.”
“After a long year of the pandemic, communities across Kentucky are eager to fully open once again. I’m proud the bipartisan CARES Act, which started in my office, continues to deliver the federal resources to fight the effects of this crisis, help Kentuckians get back to work, and encourage new tourism of our beloved Commonwealth,” said U.S. Senate Republican Leader Mitch McConnell. “Multiple safe and effective COVID-19 vaccines make it possible for families to explore new regions of the Bluegrass and experience all Kentucky can offer. These latest grants can help Kentucky’s economy come roaring back.”
The EDA investments announced today are:
- Kentucky Tourism, Arts and Heritage Cabinet, Frankfort, Kentucky, will receive a $2.8 million EDA CARES Act Recovery Assistance grant to develop a marketing campaign that will highlight the state’s nine tourism regions and focus on safe travel to support growth in the state’s tourism economy, positioning the region for recovery from the coronavirus pandemic.
- Mountain Association for Community Economic Development, Berea, Kentucky, will receive a $1 million EDA CARES Act Recovery Assistance grant to support a coronavirus recovery initiative that will provide access to capital, training, technical assistance, and additional outreach to underserved groups and communities. This EDA grant will be matched with $250,000 in local funds.
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.