U.S. Department of Commerce Invests $3.7 Million in American Rescue Plan Funds to Support Workforce Training and Business Expansion Efforts in Hartford, Connecticut
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3.7 million grant to Community Solutions International, Inc., New York, New York, for renovation of its Swift Factory business incubator in Hartford, Connecticut. This grant is funded by the American Rescue Plan.
This project will provide for the establishment of a workforce training center and other small business expansion spaces, supporting job creation and economic diversification in the region. This EDA grant will be matched with $904,320 in local funds and is expected to create 45 jobs, retain 70 jobs, and generate $10 million in private investment.
“President Biden’s American Rescue Plan offers direct relief to American communities as they work to respond to and recover from the economic impact of the coronavirus pandemic,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will enable Swift Factory to broaden its education and training offerings and produce a skilled workforce while building economic resiliency in the region.”
“Economic Development Administration investments play an important role in advancing locally-led economic development strategies that drive critical workforce and business expansion efforts to create stronger, more resilient regional economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will renovate Hartford’s Swift Factory business incubator to provide additional workspace and increase direct job placement services to support the creation and growth of minority-owned businesses in the community.”
“For too long, Hartford’s North End has faced economic disregard and abandonment resulting in deteriorating housing stock and dwindling job opportunities for residents,” said Senator Richard Blumenthal. “This federal grant to spur minority-owned business growth and train workers is a force multiplier for economic growth in this neighborhood, community, and greater Hartford area.”
“Swift Factory could have become a post-industrial wasteland when it was abandoned, but thanks to federal funding, it is turning into a vibrant hub for nonprofits, schools, and minority- and women-owned businesses in the North End of Hartford,” said Senator Chris Murphy. “This infusion of almost $4 million from the American Rescue Plan will help bring in even more tenants, create new jobs, and provide a major boost to local economy.”
“This $3.7 million grant will build on years-long efforts to revitalize Hartford’s Swift Factory,” said Congressman John B. Larson (CT-01). “We enhanced the Economic Adjustment Assistance program by passing the American Rescue Plan to spur job growth in communities that were hit hardest by this pandemic, like Hartford’s North End. Through the creation of a workforce training center and expanded opportunities for small businesses at Swift, this project will be an engine of economic opportunity, supporting new jobs and sustained economic growth in North Hartford.”
This project was made possible by the regional planning efforts led by the Capitol Region Council of Governments (CRCOG). EDA funds CRCOG to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
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.