Grant

February 14 - 18, 2022

EDA announced eight investments from February 14-18, 2022, totaling $3,790,067, which is matched by $1,505,016 in local investments.  These investments include the following: (1) $2,740,067 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 two projects for $2,333,732 that will help create 456 jobs, save 748 jobs, and leverage $43,700,000 in private investments; and (2) $1,050,000 in five Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.

  • $2,740,067 in three Economic Adjustment Assistance projects, matched by $785,016 in local investments, as follows:
    • $1,133,732, matched by $283,432 in local investment, to the City of South San Francisco/Renaissance Entrepreneurship Center, South San Francisco/San Mateo County, California, to support the City of South San Francisco, in partnership with the Renaissance Entrepreneurship Center, with developing a business resource center in North San Mateo County to provide technical assistance to emerging and established small businesses.  The services are targeted toward low- and moderate-income, minority, and other underserved populations.  The services will help entrepreneurs adjust to the new business climate, pivot their models, build capacity, recover, and enhance their abilities to participate in the digital economy.  Annually, the resource center will deliver a hybrid of in-person and virtual services to over 200 participants.  Once completed, the project will help strengthen and diversify the regional economy, which will attract private investment, create jobs, and support secondary business development throughout the region.  The grantees estimate that this investment will help create 372 jobs, save 748 jobs, and leverage $43,700,000 in private investment.
    • $1,200,000, matched by $400,000 in local investment, to the Keshet Dance Company, Albuquerque/Bernalillo County, New Mexico, to support the renovation of their existing Keshet Ideas and Innovation Center facility to create additional work, makerspace, and audience/customer engagement spaces in Albuquerque, New Mexico.  The project will work to improve the economic conditions of underserved populations and further advance a diverse local creative economy by providing free/low-cost business development resources/training to improve skills in entrepreneurship; product-to-market support services and spaces to increase sales; business residency and resource center; and other initiatives which will support small business development in the area.  Once completed, the project will promote entrepreneurship, bolster job creation, and promoting economic growth and resiliency throughout the region.  The grantee estimates that this investment will help to create 84 jobs.
    • $406,335, matched by $101,584 in local investment, to the Southern Colorado Economic Development District, Inc., Pueblo/Pueblo County, Colorado, to support the Southern Colorado Economic Development District (SCEDD) with addressing the local and regional need for a broadband infrastructure by developing a regional broadband plan for middle-mile fiber network to serve various counties in the district.  The project will assist regional economic development efforts by creating a blueprint for the installation of a critical broadband infrastructure that will provide fast and reliable broadband for residents and businesses in a 13-county region of Colorado, which includes many underserved areas.  In development of the blueprint, SCEDD will focus on serving communities through outreach and knowledge sharing as well as a focus on affordability.  Ultimately, the project will support the growth of existing businesses, enhance tele-medicine opportunities, and increase educational opportunities, which will support workforce development, bolster job creation, attract private investment, and advance economic resiliency throughout the region.
  • $1,050,000 in five Partnership Planning projects, matched by $720,000 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.