Grant

April 12 - 18, 2019

EDA announced 16 investments from April 12-18, 2019, totaling $10,724,200, which is matched by $8,968,072 in local investments. These investments include the following: (1) $4,201,200 in five Economic Adjustment Assistance projects to help communities design and implement strategies to adjust or bring about change to their economy in response to structural damage to their underlying economic base, which includes one project for $800,000 that will help create 120 jobs, save 55 jobs, and leverage $2,000,000 in private investment; (2) $5,338,000 in three Public Works projects to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 155 jobs, save 2,564 jobs, and leverage $154,855,000 in private investment; and (3) $1,185,000 in eight Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $4,201,200 in five Economic Adjustment Assistance projects as follows:
  - $2,500,000 to the Regents of the University of California, Riverside/Riverside County, California, matched by $2,500,000 in local investment, to fund the acquisition of equipment for use in a life sciences industry business incubator in a designated Opportunity Zone in Riverside, California. The Inland Empire Entrepreneurial Life Science Incubator Equipment Acquisition Project will support business enterprises by improving the efficiency of their operations, which will contribute to the creation of jobs opportunities for the region’s workforce. In addition, this project will address the region’s demand for more high-skilled workers.
  - $800,000 in 2018 Disaster Supplemental funds to the Sonoma County Economic Development Board Foundation, Santa Rosa/Sonoma County, California, matched by $200,000 in locally investment, to fund a revolving loan fund in Sonoma County, California, to assist disaster recovery and resiliency efforts for local businesses in the wake of the flooding, severe winter storms, and wildfires in 2017. The investment will provide access to affordable capital for business start-up or expansion in the state to encourage job creation, retention, high paying jobs, economic diversification and economic stability. The grantee estimates that this investment will help create 120 jobs, save 55 jobs, and leverage $2,000,000 in private investment.
  - $500,000 in 2018 Disaster Supplemental funds to the Alabama Aviation Education Center, Inc., Mobile/Mobile County, Alabama, matched by $177,136 in local investment, to fund the Flight Works Alabama Aviation Education Center in a designated Opportunity Zone in Mobile County, Alabama. This investment will provide an apprenticeship program to assist Flight Works Alabama graduates with an opportunity to attain full-time employment in the manufacturing and aerospace industry. The goal of the project is to build an aviation hub that will provide the ability to be competitive in a global market, create stable long-term jobs, and contribute to economic diversification in a region impacted by Hurricane Irma.
  - $250,000 to the Oklahoma State University Institute of Technology, Okmulgee/Okmulgee County, Oklahoma, matched by $254,136 in local investment, to support the Oklahoma State University Institute of Technology with providing remediation training and testing for welders in the eastern Oklahoma region. The Welding Remediation Program will provide a skilled workforce to support investments made by companies in the oil and gas industry, which will help strengthen and enhance diversification in the region, boost new commercial and industrial development, and create jobs.
  - $151,200 to the Upper Coastal Plain Council of Governments, Wilson/Wilson County, North Carolina, matched by $37,800 in local investment, to support the Upper Coastal Plain Council of Governments with continuing the Disaster Recovery Coordinator project in a designated Opportunity Zone. This amendment will assist the Town of Princeville with planning and project management services to help the community become more resilient during natural disasters by implementing economic development strategies focused on recreational, cultural, and historic tourism. The Coordinator is critical in helping to establish long-term recovery efforts for the region, which will strengthen the local economy.
- $5,338,000 in three Public Works project as follows:
  - $2,415,000 to the City of Tallassee, Tallassee/Elmore County, Alabama, matched by $2,415,000 in local investment, to fund sewer infrastructure upgrades to create a sustainable, reliable wastewater system that will meet the needs of industry in the City of Tallassee. The project is critical to the retention and expansion of jobs in the healthcare, advance manufacturing and automotive sectors. This investment will assist the region with providing new job opportunities to diversify and strengthen the regional economy. The grantee estimates that this investment will help create 10 jobs, save 2,059 jobs, and leverage $455,000 in private investment.
  - $2,211,000 to South Sioux City, South Sioux City/Dakota County, Nebraska, matched by $2,211,000 in local investment, to fund the Water Storage Improvement project in South Sioux City, Nebraska. The City is addressing the local and regional need for additional water storage capacity in the Roth Industrial park, which will allow industrial expansion in the park. This project will make it possible businesses to be more operationally efficient, which will result in new higher paying jobs and additional employment throughout the region. The grantee estimates that this investment will help create 145 jobs and leverage $145,000,000 in private investment.
  - $712,000 to the City of Monticello, Monticello/Wayne County, Kentucky, matched by $178,000 in local investment, to fund sewer infrastructure to serve an existing industry in the City of Monticello, Kentucky. The improvements will help build a reliable water system that will supply the economic needs of the growing industrial area, which will help strengthen the local economy, support private capital investment and create jobs throughout the region. The grantee estimates that this investment will help save 505 jobs and leverage $9,400,000 in private investment.
- $1,185,000 in eight Partnership Planning projects, matched by $995,000 in local investments, to support the development and implementation of the Comprehensive Economic Development Strategy (CEDS) process. The CEDS process is designed to bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy.