U.S. Department of Commerce Invests $399,695 in CARES Act Funding to Boost Economic Development Programs Critical to Helping 5-county Ozark Region in Missouri Respond to Coronavirus
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $399,695 CARES Act Recovery Assistance grant to the Ozark Foothills Regional Planning Commission, Poplar Bluff, Missouri, to update economic development plans and fortify programs to assist communities in responding to the coronavirus pandemic.
“The Trump Administration is eager to allocate these essential CARES Act funds and deliver on our promise to help American communities recover from the impact of COVID-19,” said Secretary of Commerce Wilbur Ross. “I am proud of the perseverance and strength shown by our communities coast to coast throughout this pandemic, and these funds will help provide the Ozark Foothills region with the necessary resources to make a swift and lasting economic comeback.”
“This investment comes at a crucial time to help Missouri’s and our nation’s economy come roaring back and provide hard-working Americans with new opportunities,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “We are pleased to make this investment in the Ozark Foothills Regional Planning Commission to provide businesses support in areas of continuity of planning, succession planning, and financial planning, and services that will help the business community thrive and continue to support the entrepreneurial culture that built the region’s economy.”
Ozark Foothills Regional Planning Commission, an EDA-designated Economic Development District (EDD), is one of the more than 850 existing, high-performing EDA EDD, University Center, Tribal, and Revolving Loan Fund (RLF) grant recipients invited to apply for supplemental funding under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The CARES Act, signed into law by President Donald J. Trump, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to the coronavirus pandemic.
On May 7, Secretary Ross announced that EDA is accepting applications for CARES Act Recovery Assistance funding opportunities.
EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic. For complete information, please visit our recently updated EDA CARES Act Recovery Assistance page.Tax Cuts and Jobs Act Opportunity Zone Opportunity Zones as an Investment Priority Tax Cuts and Jobs Act of 2017, Opportunity Zones Investment Priority Opportunity Zones webpage Opportunity Now resources page here (Pub. L. 116-20) (PDF) Economic Adjustment Assistance (EAA) Program (PDF) Robert T. Stafford Act Disaster Supplemental webpage The project, to be located in a Tax Cuts and Jobs Act designated Opportunity Zone,
This project is funded under the Assistance to Coal Communities (ACC) program, through which EDA awards funds on a competitive basis to assist communities severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.
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.