Grant

March 22 - 26, 2021

EDA announced five investments from March 22-26, 2021, totaling $1,135,000, which is matched by $503,200 in local investments. These investments include the following: (1) $995,000 in three Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects to help alleviate sudden and severe economic dislocation caused by the coronavirus pandemic, which includes one project for $470,000 that will help create 7,577 jobs and leverage $1,900,000,000 in private investment; and (2) $140,000 in two Partnership Planning projects to support the development and implementation of the Comprehensive Economic Development Strategy process.

  • $995,000 in three Economic Adjustment Assistance-COVID-19 Recovery and Resiliency Projects, matched by $363,200 in local investments, as follows:
    • $470,000, matched by $120,000 in local investment, to the Minneapolis Saint Paul Regional Economic Development Partnership, Saint Paul/Ramsey County, Minnesota, to support the Minneapolis Saint Paul Regional Economic Development Partnership with developing its Regional Supply Chain Resiliency and Diversity Strategy to assess the region’s supply chain and its competitiveness and diversity in two key regional clusters, medical device manufacturing and food and agriculture production. In addition, the project will develop a web-based platform to encourage awareness of diverse suppliers among the region’s manufacturers as well as a supplier diversity toolkit to inform manufacturers about supplier diversity and its value to their businesses. Once implemented, the strategy will help the area become more resilient to future economic shocks such as the COVID-19 pandemic, which will build stronger and more versatile localized supply chains and increase employment, income, and wealth throughout the region. The grantee estimates that this investment will help create 7,577 jobs and leverage $1,900,000,000 in private investment.
    • $400,000, matched by $100,000 in local investment, to the Gatlin Tourism Development Authority, Gatlinburg/Sevier County, Tennessee, to support the Gatlinburg Tourism Development Authority, the City of Gatlinburg, and Sevier County with rebounding from the negative economic impacts stemming from COVID-19 on the tourism industry by developing a marketing campaign to reach potential visitors in a post-COVID-19 environment. Once completed, the project will help to ensure the recovery of visitation and visitor spending to provide economic support for the state's tourism and recreation sectors, which will strengthen the regional economy and advance economic resiliency throughout the region.
    • $125,000, matched by $143,200 in local investment, to the County of Summit, Akron/Summit County, Ohio, to support Summit County, and the municipally-owned broadband utility, FairlawnGig, with developing a strategy for additional and enhanced broadband service for Akron, Ohio, a designated Opportunity Zone. The project includes an assessment of existing fiber assets, evaluation of market conditions and demand, identification of potential industry partners, investigation of interjurisdictional and other relevant legal issues, options for a phased construction approach, and geographical analysis and recommended fiber routes. Once implemented, the strategy will establish the analytical foundation for critical broadband infrastructure development in the area and help guide local leaders and stakeholders as they make the region more resilient to future economic shocks like the COVID-19 pandemic.
  • $140,000 in two Partnership Planning projects, matched by $140,000 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.