Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to Alabama Aviation Education Center, Inc., of Mobile, Alabama, which is located in a Tax Cuts and Jobs Act designated Opportunity Zone, to support development of the new Flight Works Alabama Aviation Education Center.
“President Trump is committed to helping businesses acquire the skilled workforce that they need to succeed,” said U.S. Assistant Secretary of Commerce for Economic Development Dr. John Fleming. “Aviation Education Center, Inc., plays a critical role in developing highly-skilled and interested students, who will help the Mobile area grow and become more resilient to the economic impact of natural disasters.”
“The new Flight Works Alabama Aviation Education Center will help provide Mobile’s future workforce with the necessary preparation to pursue opportunities in the aerospace industry,” said Senator Shelby. “The facility will host professional training for individuals, equipping them with the skills needed to be successful in a competitive job market. I am grateful for EDA’s continued investment in Alabama’s workforce development and look forward to the growth made possible by this $500,000 grant.”
This project will contribute to economic diversification in a region that has been impacted by natural disasters such as Hurricane Irma. This project was made possible by the regional planning efforts led by the South Alabama Regional Planning Council. EDA funds South Alabama Regional Planning Council to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
The funding announced today goes to a Tax Cuts and Jobs Act designated Opportunity Zone, which provides special incentives for further private sector participation and development. Created by President Donald J. Trump’s Tax Cuts and Jobs Act of 2017, Opportunity Zone designations spur economic development by giving tax incentives to investors in economically-distressed communities nationwide.
This project is funded under the Bipartisan Budget Act of 2018 (PL 115-123) (PDF), in which Congress appropriated to EDA $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) funds for disaster relief and recovery as a result of Hurricanes Harvey, Irma, and Maria, wildfires and other calendar year 2017 natural disasters under the Stafford Act.
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.