U.S. Department of Commerce Invests $800,000 to Support Disaster Economic Recovery Efforts in Houston, Texas
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $800,000 grant to the International Economic Development Council (IEDC) of Washington, D.C., to support ongoing economic recovery needs in Texas in the wake of Hurricane Harvey.
“We commend our partners at IEDC for helping to revitalize Houston’s economy following Hurricane Harvey,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord. “The services provided will help advance economic recovery, solidify gains, strengthen operations and grow partnerships.”
This investment will provide leadership training, peer learning, technical assistance, and best practices for disaster-stricken communities. IEDC will match expert economic developers to specific areas for economic recovery advancement. The project will also leverage investments from local and state government to provide a program of in-kind support and volunteers, which will enable IEDC to contribute a 20% or more match-share.
This project is funded under the Bipartisan Budget Act of 2018 (PL 115-123) (PDF), in which Congress appropriated to EDA $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) funds for disaster relief and recovery as a result of Hurricanes Harvey, Irma, and Maria, wildfires and other calendar year 2017 natural disasters under the Stafford Act.
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.