U.S. Economic Development Administration Invests $150,000 to Aid Economic Recovery Efforts After Recent Natural Disasters in Washington State
Contact: Public Affairs Department, (202) 482-4085
Monday, August 11, 2014
Monday, August 11, 2014
WASHINGTON – The U.S. Commerce Department’s Economic Development Administration (EDA) today announced a $150,000 grant to the Economic Alliance of Snohomish County to create an economic redevelopment strategy. The Oso area of Snohomish County, Washington, has recently been declared a disaster area as a result of flooding, and EDA’s investment will aid in the economic recovery efforts.
“In the wake of a natural disaster, everyone focuses on the rebuilding of property, but oftentimes parts of the economy need to be rebuilt as well,” said Assistant Secretary of Commerce for Economic Development Jay Williams. “The EDA investment announced today will help the people of Snohomish county take the first step to build a more resilient economy for the future.”
EDA’s investment will fund the North Stillaguamish Valley Economic Redevelopment Plan. The Oso area of Snohomish County, Washington suffered severe flooding and mudslides starting on March 22, 2014, and President Obama declared it a disaster area on April 2, 2014. In addition to the loss of property and life, the disaster also caused considerable economic damage. The Economic Alliance of Snohomish County and other local organizations will collaborate to develop the Economic Redevelopment Plan as part of the long-term recovery efforts related to the Oso disaster. According to the grantee, when implemented, the plan will help grow higher-skill, higher wage jobs in manufacturing and other sectors, helping the area with long-term economic recovery and future resiliency.
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.