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A bureau within the U.S. Department of Commerce


Press Release

U.S. Economic Development Administration Announces $49 Million to Support Flood Impacted Regions in RI, NE, TN and KY

WASHINGTON - The U.S. Economic Development Administration (EDA) today announced $49 million in disaster assistance to support recovery efforts in Rhode Island, Nebraska, Tennessee and Kentucky, all of which were impacted by flooding during the spring of 2010.

"Last year's heavy spring storms and flooding significantly damaged area businesses, impacting their operations and their workers," said U.S. Assistant Secretary of Commerce for Economic Development John Fernandez. "This vital assistance will provide the resources local leaders need to not only rebound from this disaster but also strengthen their infrastructure, prepare for future threats, and catalyze new business development and job growth."

Funds will be awarded to projects that devise long-term economic redevelopment strategies and carry out implementation activities that will advance recovery, mitigation and growth efforts in these regions. The funding is available under the FY 2011 Supplemental Appropriations Disaster Relief Opportunity to Supplemental Appropriations Act.

The devastating storms that hit between March and May caused damage to businesses, crops, infrastructure and homes. Small business owners and organizations were devastated by the harsh weather conditions, forcing some to close down after storms ruined products and inventory. Overflowing sewage also caused problems at waste water treatment plants and facilities, impacting the flow of commerce.

EDA deployed staff in each affected state immediately following the disasters to work closely with local leaders. Together, they assessed the economic landscape and identified bottom-up innovation strategies for rebuilding with a focus on leveraging private-public partnerships that create the conditions for the private sector to succeed. This strategy is part of EDA's goal to support collaborative regional innovation that promotes sustainable job growth and strengthens communities that have suffered disproportionate economic and job losses.

Applications for economic recovery assistance are now available through www.grants.gov. Additional details on this funding opportunity can be found in the Federal Funding Opportunity (FFO) notice. 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 makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth.