EDA: $800,000 in CARES Act Recovery Assistance Invested to Support Recovery of Tourism in Portland, OR
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $800,000 CARES Act Recovery Assistance grant to the Metro Regional Government, Portland, Oregon, to support the recovery of the region’s tourist economy. This EDA grant, to be matched with $200,000 in local investment, is expected to create 492 jobs and retain 472…
EDA: $711,000 Invested to Support the Minority Business Development Initiative and Create Jobs in Charleston, SC
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $711,000 grant to the South Carolina Association for Community Economic Development, Charleston, South Carolina, to support minority business owners and help create jobs through the Minority Business Development Initiative. This EDA grant will be matched with $180,000 in local investment. “With an…
EDA: $617,203 Invested to Support Regional Economic Planning Efforts of the Inupiat Community of the Arctic Slope in Barrow, AK
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $617,203 grant to the Inupiat Community of the Arctic Slope, Barrow, Alaska, to create a Comprehensive Economic Development Strategy (CEDS) for the North Slope region. “President Biden is committed to helping native communities build a foundation of economic resilience and prosperity,” said…
Census Bureau: Small Business Pulse Survey Phase 6 Weekly Data Released
The U.S. Census Bureau today released new data from the sixth phase of the Small Business Pulse Survey (SBPS). Data collection began August 16. Results will be released weekly August 26 to October 21. New content in the SBPS Phase 6 covers difficulties hiring employees, new workplace norms, changes in demand for goods or services, and price…
HUD: Disaster Assistance Announced for Vermont Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas in the State of Vermont affected by a severe storm and flooding from July 29 to July 30, 2021. On September 29, President Biden issued a major disaster declaration for the counties of Bennington and Windham. The President’s…
EDA: 50 Recipients of “Build to Scale” Program Announced
Grantee Projects Fuel Innovation and Tech-Based Economic Development to Enhance American Competitiveness on the Global Stage Today, U.S. Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo announced that 50 organizations — including nonprofits, institutions of higher education, state government agencies, and other entrepreneurship-focused organizations — from 26 states will receive grants totaling $36.5…
CDFI Fund: Treasury Guarantees $100 Million in CDFI Bond Funding
Treasury Guarantees $100 Million in CDFI Bond Funding The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the approval of a $100 million guarantee under the fiscal year 2021 round of the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee will be issued to Bank of America…
FEMA: President Biden Approves Major Disaster Declaration for Vermont
FEMA announced that federal disaster assistance has been made available to the state of Vermont to supplement state and local recovery efforts in the areas affected by a severe storm and flooding from July 29-30, 2021. Federal funding is available to the state, eligible local governments and certain private nonprofit organizations on a cost-sharing basis…
CFPB: Report Finds Declines in Credit Card Debt, New Applications and Increase in Digitial Engagement in 2020
The Consumer Financial Protection Bureau released its fifth biennial report to Congress today on the consumer credit card market, finding that the market’s growth over the last few years reversed course in 2020. In reviewing the market for potential consumer harm, the report presents the latest research on consumer card use, cost, and availability. From…
ABA: Association Testifies on the Future of Banking
FirstBank CEO Jim Reuter offers industry perspective to House Financial Services Subcommittee The American Bankers Association testified today before the House Financial Services subcommittee on Consumer Protection and Financial Institutions, offering the industry’s perspective on the future of banking and how consolidation, nonbank competition and technology are re-shaping the industry. Jim Reuter, president and CEO of Denver-based…