Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $3.4 million in CARES Act Recovery Assistance grants to help the state of California prevent, prepare for, and respond to the coronavirus.
“President Biden is working to ensure that communities recovering from the economic impacts of the pandemic have the support they need to build back better,” said Secretary of Commerce Gina M. Raimondo. “These EDA investments will provide needed assistance to support businesses and workers in San Francisco and Long Beach.”
“The Economic Development Administration plays an important role in supporting community-led strategies to build resilient and robust local economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “These EDA investments will grow businesses and create jobs by providing technical assistance to entrepreneurs and increase the availability of childcare services for workers.”
“These CARES Act Recovery Assistance grants will help businesses and workers in San Francisco and Long Beach get the critical support they need to recover from pandemic impacts, including assistance for small businesses and a childcare center for parents returning to the workforce,” said Governor Gavin Newsom. “I thank the Biden Administration for its continued partnership and support.”
The EDA investments announced today are:
- Economic Resources Corporation, Lynwood, California, will receive a $2.7 million EDA CARES Act Recovery Assistance grant to renovate a 5,900-square-foot building in the Wrigley neighborhood of Long Beach for use as a childcare center for parents returning to the workforce. The project, to be matched with $1.3 million in local funds, is expected to create 12 jobs.
- The city and county of San Francisco will receive a $707,827 EDA CARES Act Recovery Assistance grant to administer specialized technical assistance to small businesses as they work to recover from the impacts of the pandemic. The project, to be matched with $176,958 in local funds, is expected to create 105 jobs, retain 97 jobs, and generate $5.4 million in private investment.
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.