EDA: $2.5 Million in CARES Act Recovery Assistance Invested to Establish Workforce Training Program at Philander Smith College
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.5 million CARES Act Recovery Assistance grant to Philander Smith College, Little Rock, Arkansas, to develop the HBCU Center of Excellence in Digital Education and Rural Workforce Development. This EDA grant, to be matched with $638,420 in…
FEMA: President Biden Signs Major Disaster Declaration for West Virginia
FEMA announced federal emergency aid has been made available to the state of West Virginia to supplement state and local recovery efforts in areas affected by severe storms from flooding from Feb. 27- March 4, 2021. The President’s action makes federal funding available to affected individuals in Cabell, Kanawha, Mingo and Wayne counties. Assistance can include…
SBA: Millennium Challenge Corporation and SBA Announce Strategic Collaboration to Advance Emerging Technologies from Small Businesses
The U.S. Small Business Administration and The Millennium Challenge Corporation (MCC) signed a Memorandum of Understanding today to advance emerging technologies and innovations developed through the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs. The SBA/MCC partnership will identify, pilot, and scale innovative technologies to address country-specific needs in sectors such as renewable energy,…
Agencies Issue Host State Loan-to-Deposit Ratios
Federal bank regulatory agencies today issued the host state loan-to-deposit ratios that are used to evaluate compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year’s ratios from June 2020. By law, a bank is generally prohibited from establishing or acquiring branches outside of…
CDFI Fund: Request for Information about NMTC Program Native Initiative Released
Today, the Community Development Financial Institutions Fund (CDFI Fund) released a Request for Information related to an upcoming procurement that is part of a broader effort to increase New Markets Tax Credit (NMTC) investment in Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands, and Alaska Native Village Statistical Areas (NMTC Native Areas). Industry and subject-matter experts…
FHFA: First-of-its-Kind Comprehensive Dataset on Mortgage Risk from 1990-2019 Published
Data included in a revised working paper leads researchers to challenge some long-held assumptions about the impetus of the 2008 financial crisis Today, to improve policymakers’ understanding of how mortgage risk has evolved over time and the role it played in the 2008 recession, FHFA released a revised staff working paper, “A Quarter Century of…
EDA: $6 Million in CARES Act Recovery Assistance Invested to Build Nursing School and Expand Biomedical Research Facility in Texas
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $6 million in CARES Act Recovery Assistance grants to help the state of Texas prevent, prepare for, and respond to coronavirus. “President Biden is focused on getting Americans back to work as we build back better from…
EDA: $3.8 Million in CARES Act Recovery Assistance Invested to Support Tourism and Economic Recovery Efforts in Kentucky
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $3.8 million in CARES Act Recovery Assistance grants to help the state of Kentucky prevent, prepare for, and respond to the coronavirus. “President Biden remains steadfast in his commitment to providing local communities with the resources necessary…
EDA: $2.7 Million in CARES Act Recovery Assistance Invested to Support Regional Economic Growth in Hawaii
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.7 million CARES Act Recovery Assistance grant to the University of Hawaii, Honolulu, Hawaii, to strengthen, expand, and scale its work supporting entrepreneurship and job creation. This EDA grant will be matched with $813,068 in local…
EDA: $2.5 Million in CARES Act Recovery Assistance Invested to Renovate Northwest Medical Center in Winfield, AL
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.5 million CARES Act Recovery Assistance grant to Healthcare Authority of Winfield, Winfield, Alabama, to renovate Northwest Medical Center. This EDA grant, matched by $1.5 million in local funds, is expected to generate nearly $2 million…