Grant

December 16 - 20, 2019

  • EDA announced 18 investments from December 16-20, 2019, totaling $1,905,792, which is matched by $1,489,810 in local investments. These investments include the following: (1) $688,556 in two 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; (2) $230,736 in one Public Works project to help communities revitalize, expand, and upgrade their physical infrastructure that will help create 35 jobs, save 2 jobs, and leverage $885,000 in private investment; (3) $794,000 in 12 Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process; and (4) $192,500 in three Local Technical Assistance projects to strengthen the capacity of local or state organizations and institutions to undertake and promote effective economic development programs.
    • $688,556 in two Economic Adjustment Assistance project, matched by $512,139 in local investments, as follows:
      • $388,556, matched by $97,139 in local investment, to the Omaha-Council Bluffs Metropolitan Area Planning Agency, Omaha/Douglas County, Nebraska, to support the Omaha-Council Bluffs Metropolitan Area Planning Agency with the hiring of disaster recovery coordinators to manage recovery projects responsive to damage caused by 2019 flooding in Nebraska. This investment will enable the region to enhance economic resilience efforts in support of faster recovery from future disasters, which will result in less job lost, business closures, lost revenues, workforce and population. The project will help the region become more economically resilient in the face of future disasters and spur business and social redevelopment in the region.
      • $300,000, matched by $415,000, to StitchCrew Inc., Oklahoma City/Oklahoma County, Oklahoma, to support StitchCrew with the establishment of an accelerator program to connect the most promising startup businesses in the region with capital and social networks in Oklahoma City. The program will focus on the development of high growth, quality ventures that will bridge the gap between support services for entrepreneurs and the investment and cooperate community. Once implemented, the program will provide a partnership network that will help create sustainable jobs in Oklahoma-based Opportunity Zones.
    • $230,736 in one Public Works project, matched by $57,684 in local investment, as follows:
      • $230,736, matched by $57,684 in local investment, to the City of Mount Pleasant, Mount Pleasant/Isabella County, Michigan, to fund the expansion of the South Industrial Park’s retention basin to fill the critical need for increased stormwater capacity to mitigate the disastrous effects of the 2017 flooding in Isabella County. The enlarged retention basin will enable existing businesses to grow and will attract new manufacturing businesses to the industrial park. Once completed, the project will assist local communities with economic restructuring, mitigate the threat of future natural disasters, and create jobs throughout the region. The grantee estimates that this investment will help create 35 jobs, save 2 jobs, and leverage $885,000 in private investment.
    • $794,000 in 12 Partnership Planning projects, matched by $717,700 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.
    • $192,500 in three Local Technical Assistance projects matched by $202,287 in local investments, to strengthen the capacity of local or state organizations and institutions to undertake and promote effective economic development programs through projects such as feasibility studies, impact analyses, disaster resiliency plans, and project planning.