February 11, 2021

EDA: $10.2 Million in CARES Act Recovery Assistance Invested to Support Economic Growth and Resiliency Efforts in Texas

Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $10.2 million in CARES Act Recovery Assistance grants to help the state of Texas prevent, prepare for, and respond to coronavirus.

“EDA is committed to helping communities across Texas fight economic hardships brought on by COVID-19,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “These EDA investments will accelerate business growth and diversification in Texas communities through investments in critical infrastructure including water, roadway, fiber optic, electrical, and sewer, and in Revolving Loan Funds (RLFs) aimed at assisting small businesses.”

“While Texans persevere as COVID-19 wreaks havoc on our state, we must take steps to ensure that our communities are equipped to weather the storm,” said Senator John Cornyn. “I applaud this announcement and will continue to do everything I can to make economic growth across Texas a high priority.”

The EDA investments announced today are:

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 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.

This post was originally published here.