April 6, 2020

EDA: $700,000 Invested to Support Business-Focused Disaster Recovery and Resiliency Efforts in Arkansas

Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $700,000 grant to the University of Arkansas, Fayetteville, Arkansas, to expand trade, export and commercialization opportunities for Arkansas businesses and agribusinesses. The EDA grant will be matched with $175,000 in local investment.

“The Trump Administration is working diligently to help communities impacted by natural disasters to both recover and rebuild stronger,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This project supports the University of Arkansas’s efforts to assist Arkansas businesses and agribusinesses in furthering economic development and disaster recovery through the expansion of commercialization and trade opportunities.”

This project was made possible by the regional planning efforts led by the Northwest Arkansas Economic Development District (NWAEDD). EDA funds NWAEDD 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 by the Additional Supplemental Appropriations for Disaster Relief Act of 2019 (Pub. L. 116-20) (PDF), which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas affected by Hurricanes Florence, Michael, and Lane, Typhoons Yutu and Mangkhut, wildfires, volcanic eruptions, and other major natural disasters occurring in calendar year 2018, and tornadoes and floods occurring in calendar year 2019, under the Robert T. Stafford Act. Please visit EDA’s Disaster Supplemental webpage.

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.

This post was originally published here.