U.S. Department of Commerce Invests $986,157 in CARES Act Recovery Assistance to Support Regional Workforce Development Efforts in Northern Colorado
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $986,157 CARES Act Recovery Assistance grant to Larimer County, Colorado, to update and expand workforce development strategies and sector partnerships in the region. This EDA grant, to be matched with $246,539 in local investment, is expected to create 495 jobs.
“The Biden Administration is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the coronavirus pandemic,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will update and expand a regional workforce strategy to help employers develop and retain talent, align education and workforce resources with industry needs, and create good-paying jobs.”
“Last year, we took urgent action to address the unprecedented economic crisis that ensued as COVID-19 spread by passing the CARES Act,” said Senator Michael Bennet. “Today, as we continue to rebuild our economy into one that works for everybody, this CARES Act grant to boost workforce development and create jobs is great news for Larimer County. I’m grateful to the Biden Administration for their work to deploy these funds.”
“Larimer County lost more than 17,000 jobs due to the pandemic, with women and communities of color hit the hardest,” said Senator John Hickenlooper. “This EDA grant will help Northern Coloradans by creating good-paying jobs and boosting our workforce.”
“I’m so grateful to see COVID-19 economic relief money flowing to Larimer County to support workforce development,” said Congressman Joe Neguse (CO-02). “Congress passed the bipartisan CARES Act early in the pandemic because we knew our communities would need unprecedented help to weather this economic moment. Funding from this bill continues to support Larimer County’s recovery efforts and the people of our state.”
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.