The U.S. Department of Commerce’s Economic Development (EDA) administration has awarded millions in CARES Act Funding to support economic development and economic recovery in response to the coronavirus pandemic. Investments include:
- October 1, 2020 – U.S. Department of Commerce to Invest $15 Million in CARES Act Recovery Assistance to Aid Reopening of Economy in Washington State
- September 30, 2020 – U.S. Department of Commerce Invests $1.9 Million in CARES Act Recovery Assistance to Support the Development of Foundation Park Near Opportunity Zone in Sioux Falls, South Dakota
- September 30, 2020 – U.S. Department of Commerce to Invest $1.5 Million in CARES Act Recovery Assistance to Create a Statewide Coronavirus Economic Recovery Strategy for New Mexico
- September 29, 2020 – U.S. Department of Commerce to Invest $3.9 Million in CARES Act Funding to Capitalize Revolving Loan Fund to Help Small Businesses Across Washington Respond to Coronavirus
- September 29, 2020 – U.S. Department of Commerce Invests $2.5 Million in CARES Act Recovery Assistance to Establish Regional Information Technology Training Center Near Newport, Arkansas, Opportunity Zone
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.
On May 7, Secretary Ross announced that EDA is accepting applications for CARES Act Recovery Assistance funding opportunities.
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.