Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3 million CARES Act Recovery Assistance grant to the Guam Economic Development Authority, Tamuning, Guam, to improve commercial infrastructure to support job creation and economic resiliency in the agribusiness sector.
“President Biden is committed to helping communities implement strategies to mitigate economic hardships brought on by the coronavirus pandemic,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will build greater operational capacity for small enterprises in Guam’s agribusiness sector.”
“The Economic Development Administration is pleased to support Guam’s efforts to develop modern and efficient infrastructure,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will renovate green markets in Mangilao and Agat by replacing roofing, installing plumbing and other utilities, and constructing a new facility in Sinajana to create new economic opportunity and jobs.”
“As we continue to see concrete benefits of federal relief coming to Guam we are especially pleased to see these reaching directly into our villages, strengthening our local vendor opportunities, and making recovery realized at the grassroots level,” said Congressman Michael San Nicolas.
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.