Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.4 million CARES Act Recovery Assistance grant to the Louisiana Department of Economic Development, Baton Rouge, Louisiana, to develop a technical assistance program and support business attraction and retention efforts across the state in response to adverse economic impacts caused by the coronavirus pandemic. The EDA grant will be matched with $600,000 in local funds.
“President Trump is working diligently every day to support our nation’s economy following the impacts of COVID-19 through the CARES Act,” said Secretary of Commerce Wilbur Ross. “This investment will provide the resources that Louisiana needs to rebound from the coronavirus pandemic and, in turn, create a stronger and more resilient state economy for the future.”
“This investment comes at a crucial time to help Louisiana and our nation’s economy come roaring back and provide hard-working Americans with new opportunities,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “EDA is pleased to invest this CARES Act funding to make resources available for technical assistance programs, business attraction and retention across Louisiana, and efforts to diversify the economy through new outreach to international markets.”
“Louisiana faces challenges time and time again, but we are the state you can count on to come back stronger,” said Congressman Garret Graves (LA-06). “Between the pandemic, seven storms, tornadoes, and a few other obstacles thrown in the mix, this year has forced our businesses to adapt and recover in more ways than one, but our resiliency will prevail. We owe it to our business owners and entrepreneurs to keep working for long-term solutions to reignite Louisiana and America’s economy.”
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.