Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $616,758 grant to the Bedford County Chamber Foundation of Alum Bank, Pennsylvania, to renovate and repurpose a historic building to serve entrepreneurs, businesses, non-profits, and students from the region. According to grantee estimates, the project is expected to create 30 new jobs.
“We commend the Bedford County Chamber Foundation for championing entrepreneurship to fuel economic growth,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord. “This project will help provide critical support services small businesses need to grow and thrive.”
This investment will assist in the renovation of the historic Russell House building in Bedford, Pennsylvania, to establish the Russell House Business and Education Center. The new facility will serve as a business incubator by providing office space to entrepreneurs. This project was made possible by the regional planning efforts led by the Southern Alleghenies Planning and Development Commission. EDA funds the Southern Alleghenies Planning and Development Commission 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.
This project is funded under the 2018 Assistance to Coal Communities (ACC 2018) program, through which EDA will award funds on a competitive basis to assist communities severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.
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.