Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to the Texas Economic Development Council, Austin, Texas, to support economic recovery efforts through educational resources for local businesses responding to the coronavirus pandemic. The EDA grant is expected to create 225 jobs, retain 284 jobs, and spur $5 million in private investment.
“Helping our communities implement COVID-19 recovery efforts is a top priority for President Trump,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This EDA investment will focus on implementing educational programs for economic developers that will better equip communities to create a more resilient economy throughout Texas.”
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.
Per Secretary Ross’s announcement, EDA began accepting applications for CARES Act Recovery Assistance funding opportunities on May 7.
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.