The U.S. Department of Commerce’s Economic Development (EDA) administration has awarded over $10 Million in CARES Act Funding to support economic development and economic recovery in response to the coronavirus pandemic. Investments include:
- $4.4 million to help West Virginia
- $400,000 to help the Eastern Panhandle Region of Virginia
- $400,000 to help 10-county Southwestern Pennsylvania Region
- $400,000 to help Southside Virginia Region
- $365,000 to help the Northern Neck Region of Virginia
- $5 million to capitalize revolving loan fund to help small businesses in Ohio
- $5.4 million to capitalize revolving loan fund to help small businesses in Pennsylvania
- $400,000 to help three-county Southern Tier New York Region
- $400,000 to help six-county Northern Vermont Region
- $400,000 to help Fayette, Lauderdale, Shelby, and Tipton Counties in Tennessee, DeSoto County in Mississippi, and Crittenden County in Arkansas
- $400,000 to help 15 counties in South Central South Dakota
- $400,000 to help Eastern Oregon
- $400,000 to help five-county Central New York Region
- $400,000 to help four-county New York Capital Region
- $400,000 to help Northern New Hampshire
- $400,000 to help three-county Western New York Region
- $400,000 to help five-county Mid-East Region of North Carolina
- $400,000 to help six-county South Delta Mississippi Region
- $400,000 to help Southern Maine
- $400,000 to help three-county Western Maine Region
- $400,000 to help Northern Maine
- $400,000 to help Kennebec Valley Region of Maine
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.