U.S. Department of Commerce Invests $2.4 Million in CARES Act Recovery Assistance to Aid Reopening of the Tourism Economy in Colorado
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.4 million CARES Act Recovery Assistance grant to the Colorado Office of Economic Development and International Trade (OEDIT), Denver, Colorado, to support the Restart and Reimagine Colorado Tourism Industry project to aid the reopening of the state’s tourism economy in response to adverse economic impacts caused by the coronavirus pandemic. The EDA grant, to be matched with nearly $600,000 in local funds, is expected to retain 700 jobs.
“President Trump is working diligently every day to support our nation’s economy following the impacts of COVID-19 through the CARES Act,” said Secretary of Commerce Wilbur Ross. “This investment will provide the resources that Colorado needs to rebound from the coronavirus pandemic and, in turn, create a stronger and more resilient state economy for the future.”
“This investment comes at a crucial time to help Colorado 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. “EDA is pleased to invest this CARES Act funding to support the Colorado Office of Economic Development and International Trade’s efforts to provide a clear and safe path forward in restoring tourism in Colorado.”
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.
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.
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.