U.S. Department of Commerce Invests $1.5 Million in CARES Act Recovery Assistance to Support Small Businesses and the Medical Technology Industry in Michigan
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $1.5 million in CARES Act Recovery Assistance grants to help the state of Michigan prevent, prepare for, and respond to coronavirus.
“President Biden is committed to harnessing the full power of the federal government to ensure our nation not only recovers from this pandemic but builds back better,” said Secretary of Commerce Gina M. Raimondo. “These EDA investments will capitalize on Michigan’s strong medical technology cluster in the Greater Lansing area and assist small businesses impacted by the COVID-19 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 Susan Brehm, Director of EDA’s Chicago Regional Office. “These EDA investments in Michigan will create jobs, support business growth, and ensure that the state is resilient to future economic disruptions.”
“As we continue putting Michigan back to work, this $1.5 million grant will stimulate our economy and create good-paying jobs,” said Governor Gretchen Whitmer. “Michigan is grateful to Biden Administration and Secretary Raimondo at the Department of Commerce for investing in our local communities and helping us build back better from the pandemic.”
“Michigan families and communities are still struggling to come back from the COVID-19 pandemic, when so many lost their jobs and economic security,” said Senator Debbie Stabenow. “This funding will help create good-paying jobs in Lansing and Lenawee and Hillsdale counties, and provide families more opportunities.”
“This federal grant will help small businesses in the Greater Lansing community and Lenawee and Hillsdale Counties adapt operations and protect and create Michigan jobs,” said Senator Peters, who serves on the Senate Commerce, Science, & Transportation Committee. “This is critical to our state’s economic recovery from disruptions caused by the pandemic. Strengthening and diversifying our medical technology sector in Michigan is particularly important now, as we rebuild and better prepare for the future. I’m proud to have helped secure this funding through the CARES Act to ensure small businesses in our state have the resources and support they need to emerge from this crisis.”
“More than a year since its passage, the CARES Act is still benefiting communities throughout Michigan as our economy recovers from the pandemic,” said Congressman Tim Walberg (MI-07). “These latest grants will help small businesses in Lenawee and Hillsdale Counties get back on their feet, as well as boost medical innovation in Eaton County and the surrounding Lansing region.”
“Mid-Michigan has been hit hard by the pandemic, and even as we finally turn the corner, our businesses and families are still struggling,” said Congresswoman Elissa Slotkin (MI-08). “These investments from the Department of Commerce, funded by the CARES Act, are going to build on Ingham County’s growing medical technology industry to create jobs, attract investments and ramp up our economic recovery.”
The EDA investments announced today are:
- Lansing Economic Area Partnership, Lansing, Michigan, will receive an $813,000 EDA CARES Act Recovery Assistance grant to develop a medical technology strategy to create economic diversity in the regional healthcare industry. The project, to be matched with $257,000 in state and local funds, is expected to create 560 jobs, retain 65 jobs, and attract $425 million in private investment.
- Lenawee Economic Development Corporation, Adrian, Michigan, will receive a $658,560 EDA CARES Act Recovery Assistance grant to develop a marketing plan and business assistance network to mitigate damage caused by the COVID-19 pandemic in Lenawee and Hillsdale counties. The project, to be matched with $164,640 in local funds, is expected to retain 445 jobs and create 70 jobs.
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.