Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million CARES Act Recovery Assistance grant to Oklahoma State University, Stillwater, Oklahoma, to assist Oklahoma manufacturers in Northeast and Central Oklahoma respond to the coronavirus pandemic. The EDA grant will be matched with $485,000 in local funds and is expected to create 500 jobs.
“President Trump is working diligently every day to support our nation’s economy following the impacts of COVID-19 through the CARES Act,” said Secretary of Commerce Wilbur Ross. “This EDA investment will create a stronger and more resilient economy in Northeast and Central Oklahoma by creating important, new manufacturing opportunities.”
“This investment comes at a crucial time to help Oklahoma’s economy come roaring back,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “The technical assistance to be provided by Oklahoma State University to regional manufactures will address workforce health and safety, shift to new markets, and support other recovery efforts.”
“As Oklahoma recovers from the coronavirus pandemic, the Trump administration continues to make our state a priority,” said Senator Jim Inhofe. “I am pleased that Oklahoma State University will receive a $1 million CARES Act Recovery Assistance grant to help Oklahoma manufacturers in Northeast and Central Oklahoma respond to the effects of the coronavirus. These funds will be used to provide technical assistance and best practices to assist our local manufactures and job creators access new markets. This funding will be matched with more than $400,000 in local funds and create 500 jobs in the region. This is fantastic news.”
The CARES Act, signed into law by President Donald J. Trump, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to the coronavirus pandemic.
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. For complete information, please visit our recently updated EDA CARES Act Recovery Assistance page.
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.