U.S. Department of Commerce Invests $840,400 in CARES Act Recovery Assistance to Support Business Growth in Alameda County, California
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $840,400 CARES Act Recovery Assistance grant to Alameda County, California, to support recovery of the region’s economy by providing technical assistance and other resources to small and medium-sized businesses. This EDA grant will be matched with $840,400 in local investment.
“President Biden remains committed to providing American communities with the resources needed to not only recover from the economic impacts of the coronavirus pandemic but to build back better,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will support Alameda County’s Resilient East Bay initiative, which will provide technical assistance to hundreds of small and medium-sized businesses in the manufacturing, transportation, distribution, logistics, and biotechnology industries.”
“Small businesses are critical drivers of our economy and California is doing more than ever to help them thrive with the largest small business relief program in the nation,” said Governor Gavin Newsom. “This CARES Act Recovery Assistance grant to Alameda County will provide invaluable help to pandemic-impacted small businesses in key industries, bolstering our nation-leading recovery. We are thankful for the Biden Administration’s continued commitment to helping our communities build back better.”
“While we continue to recover from the economic impacts of the COVID-19 pandemic, there’s more work to be done to help our struggling businesses get back on their feet,” said Senator Alex Padilla. “This recovery assistance grant will help provide local businesses in Alameda County with the support they need. And I’m focused on securing additional relief for our small businesses to keep the lights on and protect jobs in communities around the country.”
“This investment will go a long way toward helping our community in the East Bay build back better and bolder from this pandemic,” said Congresswoman Barbara Lee (CA-13). “President Biden continues to show his commitment to providing communities with the resources needed to not only survive this public health and economic crisis, but return stronger than ever. Hundreds of businesses in California’s 13th district will greatly benefit from this investment and contribute to our thriving local economy. I’d like to thank the Biden administration for its commitment to uplifting our communities.”
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.