May 4 - 11, 2023
EDA announced five investments from May 4-11, 2023, totaling $2,998,921, which is matched by $1,918,394 in local investments. These investments include the following: (1) $2,788,921 in four 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 three projects for $2,059,361 that will help create 191 jobs, save 5 jobs, and leverage $311,000,000 in private investments; and (2) $210,000 in one Partnership Planning project to support the development and implementation of the Comprehensive Economic Development Strategy process.
- $2,788,921 in four Economic Adjustment Assistance projects, matched by $1,778,394 in local investments, as follows:
- $1,345,950 in Assistance to Coal Communities, matched by $1,345,950 in local investment, to the City of Lexington, Lexington/Davidson County, North Carolina, to support upgrades to the natural gas distribution system to improve natural gas capacity at an industrial site necessary for the expansion of a major steel-manufacturing facility in Davidson County. The upgrades include engineering, surveying, and constructing a steel pipeline. Once completed, the project will support business expansion and job creation in an area that has been impacted by the decline in the coal industry. The grantee estimates that this investment will help create 180 jobs and leverage $310,000,000 in private investment.
- $729,560, matched by $182,390 in local investment, to Vivian’s Door, Mobile/Mobile County, Alabama, to support the Vivian’s Door initiative by providing technical assistance to continue to help small businesses owners such as women-owned businesses and minority businesses in Mobile County. The project will also provide formalized training and a digital presence to help these business owners connect to a network of opportunities and resources. Once completed, the initiative will provide resources to generate an environment that can serve as a catalyst for unprecedented regional economic growth.
- $463,357 (no local match) to Mashpee Wampanoag Tribe, Town of Mashpee/Barnstable County, Massachusetts, to support the future expansion of business operations of the Mashpee Wampanoag Tribe's Shellfish Farm by ensuring the required food safety process can be fulfilled. The upgrade of equipment is essential to run operations at the facility and produce quality oysters and quahogs for the market. A more productive shellfish farm will provide future jobs and learning opportunities for tribal farmers while preserving a major tribal natural resource. Once completed, the project will support the growth of existing businesses, which will bolster job creation and advance economic resiliency throughout the region. The grantee estimates that this investment will help create one job and save three jobs.
- $250,054, matched by $250,054 in local investment, to the Central South Dakota Enhancement District, Pierre/Hughes County, South Dakota, to support the establishment of a revolving loan fund (RLF) to provide short term, gap financing assistance to businesses within the Jackson, Haakon, Stanley, Jones, Hughes, Sully, Hyde, Corson, Mellette, and Dewey Counties in South Dakota. The new RLF will provide the region with a local source of capital for new, existing, and expanding businesses, which will promote growth and development by increasing investment, employment, and economic diversity. Once established, the RLF will support resiliency efforts against future economic disruptions, spur private investment, bolster job creation, and strengthen the regional economy. The grantee estimates that this investment will help create 10 jobs, save 2 jobs, and leverage $1,000,000 in private investment.
- $210,000 in one Partnership Planning project, matched by $140,000 in local investment, 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.
- Northeast Michigan COG, Gaylord/Otsego County, MI ($210,000/$140,000)