April 14 - 20, 2023
EDA announced six investments from April 14-20, 2023, totaling $1,156,666, which is matched by $796,794 in local investments. These investments include the following: (1) $526,666 in three 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 $317,240 that will help create 38 jobs, save 49 jobs, and leverage $8,800,000 in private investment; and (2) $630,000 in three Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $526,666 in three Economic Adjustment Assistance projects, matched by $166,794 in local investments, as follows:
- $317,240 in Assistance to Coal Communities, matched by $100,000 in local investment, to Appalachian Voices, Boone/Watauga County, North Carolina (Project: Lebanon/Russell County, Virginia), to support the establishment of a training program to facilitate the development of an energy storage and electrification manufacturing (ESEM) sector in coal impacted southwest Virginia. This program will assist companies in transitioning to the ESEM sector through identifying resources to build capacity, creating company-specific plans to enter the clean energy technology market, providing industry-specific solutions to meet market expansion goals, and establishing an implementation pathway to assist companies in the transition. Once completed, the project will create and retain jobs, advance economic resiliency, and attract private investment to an area that has been impacted by the decline in the coal industry. The grantee estimates that this investment will help create 38 jobs, save 49 jobs, and leverage $8,800,000 in private investment
- $190,176, matched by $47,544 in local investment, to the Northeast Florida Regional Council, Jacksonville/Duval County, Florida, to fund the hiring of a Disaster Recovery Coordinator to support long-term economic recovery and resiliency activities relating to impacts from Hurricanes Ian and Nicole in the northeast Florida region. The coordinator will augment staff resources for many jurisdictions, including many smaller municipalities, and allow for work to be done to prepare local governments to be more resilient and to take advantage of funding opportunities. Once completed, the project will help create jobs, mitigate the effects of natural disasters, and strengthen the regional economy.
- $19,250, matched by $19,250 in local investment, to the City of Eustis, Eustis/Lake County, Florida, to support the City of Eustis with conducting an incubator feasibility study as part of a broader effort to develop a general business incubator in its downtown district in Florida. The project will provide a long-term, sustainable, business support platform for entrepreneurial talent to grow and thrive. It will be a vehicle for providing business premises, resources, educational tools and mentorship to create a sustainable economy and reduce risk of business failure and provide a way forward to support the creation of new technology-lead jobs in the community. Once completed, the study will help provide a roadmap to attract private investment and advance economic resiliency throughout the region.
- $630,000 in three Partnership Planning projects, matched by $630,000 in local investments, to support the development and implementation of a comprehensive economic development strategy (CEDS). 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.
- MS River RPC, La Crosse/La Crosse County, WI ($210,000/$210,000)
- Mid Minnesota DC, Wilmar/Kandiyohi County, MN ($210,000/$210,000)
- East Central RDC, Mora/Kanabec County, MN ($210,000/$210,000)