U.S. Department of Commerce Invests $2.3 Million in CARES Act Recovery Assistance to Support Aviation Maintenance and Repair Industry in Lake City, Florida
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.3 million CARES Act Recovery Assistance grant to Lake City Gateway Airport, Lake City, Florida, to retrofit two city-owned, World War II era hangars for use by the aircraft maintenance and repair service industry. This EDA grant, to be matched with $724,675 in local investment, is expected to create 300 jobs, retain 512 jobs, and generate $1.2 million in private investment.
“President Biden is committed to unleashing the full power of the federal government to ensure our nation not only recovers from this pandemic but builds back stronger,” said Secretary of Commerce Gina Raimondo. “This EDA investment in Lake City Gateway Airport will provide the critical infrastructure they need to build back better from the coronavirus pandemic.”
“The Economic Development Administration is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the coronavirus pandemic,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “Hangar upgrades completed through this EDA investment will help ensure job retention, creation and investment in the aviation industry as it recovers from the economic effects of the pandemic.”
“I was proud to support the CARES Act, which was aimed to assist our local communities against the many harmful effects from the COVID-19 pandemic,” said Senator Marco Rubio. “Repairs at Lake City Gateway Airport will create hundreds of employment opportunities for Floridians and aid the aviation industry as it begins to recover from the pandemic.”
“During these challenging times, providing resources for our communities to continue their work is crucial for their economic survival,” said Congressman Al Lawson (FL-05). “The airport is a vital part of Lake City’s workforce, and this grant will provide much-needed funding for projects that may otherwise be neglected during the pandemic. Thank you to President Biden for ensuring the necessary improvements are made to benefit the North Florida community for years to come.”
This project was made possible by the regional planning efforts led by the North Central Florida Regional Planning Council, which EDA funds to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.