|Program||# of Grants||EDA Funds|
|Assistance To Coal Communities||1||$160,000|
|Economic Adjustment Assistance||1||$500,000|
|Research And Evaluation||1||$300,000|
|Trade Adjustment Assistance||2||$1,641,258|
In October 2014, Governor Andrew Cuomo announced an increase in New York State’s contract utilization goal for minority and women owned business enterprises (MWBEs) to 30 percent. The State had exceeded the previous 20 percent goal, and the 30 percent goal represents the highest MWBE target in the Nation for any State government. In September 2015, New York City Mayor Bill de Blasio announced that the City awarded over $1.6 billion in contracts to MWBEs in FY 2015, and that the City remained on track to meet its goal of awarding $16 billion in MWBE contracts over the next ten years.
In September 2016, EDA invested $500,000 in Economic Adjustment Assistance funds to assist TruFund in administering the TruAccess Contractor Education Program for small to mid-sized MWBEs engaged in construction trades. This EDA-supported program will provide strategic assessments, monthly workshops, sector-specific training, professional consulting, one-on-one counseling from TruFund staff, access to TruFund financing, program partner referrals, and networking prospects in an effort to provide equal opportunities for small businesses in this underserved sector.
This investment will assist in the stimulation of economic development by supporting job-generating MWBE contractors. The project will also assist small contracting businesses in strengthening their operations and building the skills and profiles necessary to improve access to contracts, bonding, and financing. Additionally, TruFund provides affordable financing to small contracting businesses that are unable to access financing from conventional lenders.