Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million CARES Act Recovery Assistance grant to the Coordinating and Development Corporation, Bossier City, Louisiana, to construct the Northwest Louisiana one-stop resource center, allowing for business development and growth. This EDA grant will be matched with $400,000 in local funds.
“President Biden is committed to supporting opportunities to streamline economic recovery as our nation builds back better from the pandemic,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will create a one-stop resource center essential to aiding the region’s business development and growth needs and to building a more resilient economy in the aftermath of the devastation caused by the coronavirus pandemic.”
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Jorge Ayala, Director of EDA’s Austin Regional Office. “The resource center to be established in Bossier City will provide a collaboration of services offered by two economic development agencies to create a more resilient regional economy in Northwest Louisiana.”
“The EDA’s grant and matching funds are an investment in economic growth for Northwest Louisiana that will yield positive short- and long-term results,” said Governor John Bel Edwards. “Our state’s economy is growing and diversifying, and we’re building a system of resiliency that will continue that trend and allow us to overcome future challenges. I’m grateful to President Biden and the Economic Development Administration for their support in the expansion of Louisiana’s economy.”
“It’s encouraging to see the bipartisan CARES Act continue to do what it was designed to do—assist our communities in their recovery from the coronavirus pandemic,” said Congressman Mike Johnson (LA-04). “I continue to offer my gratitude to the workers and businesses that helped our communities pull through those unprecedented challenges, and there is no doubt this Economic Development Resource Center in Bossier City will assist in the ongoing efforts.”
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.