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July 22, 2021

U.S. Secretary of Commerce Gina Raimondo Announces $3 Billion Investment in America’s Communities

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department of Commerce’s Economic Development Administration (EDA) will implement a series...

July 22, 2021

U.S. Department of Commerce Invests $4.9 Million in CARES Act Recovery Assistance to Support Kenosha Innovation Neighborhood Project in Kenosha, Wisconsin

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4.9 million...

July 22, 2021

U.S. Department of Commerce Invests $2.4 Million in CARES Act Recovery Assistance to Expand Broadband Infrastructure in Washtenaw County, Michigan

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.4 million...

July 22, 2021

U.S. Department of Commerce Invests $1.8 Million in CARES Act Recovery Assistance to Create Revolving Loan Fund for Small Businesses in Cuyahoga County, Ohio

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million...

July 22, 2021

U.S. Department of Commerce Invests $1.1 Million in CARES Act Recovery Assistance to Support the Growth of Advanced Manufacturing, Life Sciences and Technology Sectors in Fall River, Massachusetts

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million...

July 22, 2021

U.S. Department of Commerce Invests $1 Million in CARES Act Recovery Assistance to Create a Workforce Training Facility and Community Center in Española, New Mexico

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million CARES...

July 22, 2021

U.S. Department of Commerce Invests $642,500 to Support Growth of Manufacturing Sector in Brunswick, Maine

WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $642,500 grant to the Midcoast Regional Redevelopment Authority...

July 20, 2021

U.S. Department of Commerce Invests $3.4 Million to Support Growth of Manufacturing Sector in Hornell, New York

WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3.4 million...

July 20, 2021

EDA Enlists ILSR and Recast City to Help Maximize Efficiency of Revolving Loan Funds

The 2020 CARES Act catalyzed a major expansion of the Economic Development Administration’s (EDA) successful Revolving Loan Fund (RLF) program. Prior to the onset of the pandemic, EDA’s RLF portfolio boasted a combined capital base of nearly $900 million. The infusion of CARES Act recovery assistance helped grow the portfolio to over $1.5 billion.

July 19, 2021

Tackling Persistent Poverty is Goal of New EDA-Economic Innovation Group Initiative

Breaking regional cycles of poverty is a challenge for both rural and urban communities throughout the United States. The structural forces that have kept persistently poor places in poverty are complex, interrelated, and together poorly understood. There is an urgent need to identify and assess the root causes of economic marginalization in these communities to create better policies to help overcome the cycles of persistent poverty.