FDIC: First FDIC Chief Innovation Officer Appointed
Sultan Meghji to spearhead agency’s tech lab and financial innovation efforts The Federal Deposit Insurance Corporation (FDIC) today named Sultan Meghji as the agency’s first Chief Innovation Officer, charged with leading the FDIC’s efforts to promote the adoption of innovative technologies across the financial services sector. “As a recognized expert in financial technology, Sultan brings…
FEMA: President Biden Approves Emergency Declaration for Texas
FEMA announced federal emergency aid has been made available to the state of Texas to supplement state, tribal and local recovery efforts in areas affected by a severe winter storm beginning on Feb. 11, 2021 and continuing. The president’s action authorizes FEMA to coordinate all disaster relief efforts, which have the purpose of alleviating the…
SBA: $200 Billion Milestone Reached for Economic Injury Disaster Loan Program to Small Businesses and Non-Profits
Today, the U.S. Small Business Administration reached a milestone in the success of the COVID-19 Economic Injury Disaster Loan (EIDL) program, which has provided U.S. small businesses, non-profits, and agricultural businesses a total of $200 billion in emergency funding. “Following the enactment of COVID-19 emergency legislation, the SBA has now provided more than 3.7 million small businesses…
Federal Reserve: FEDS Notes | The Effects of COVID-19 as Reported by Local Communities
Author: Andrew Dumont1 Since early-April 2020, the Community Development function of the Federal Reserve Board and the twelve Federal Reserve Banks have, approximately every eight weeks, surveyed key stakeholders in local communities across the United States to learn about how the COVID-19 pandemic is affecting their community. Survey respondents have included representatives from local, state…
EDA: $17.3 Million Invested to Support Disaster Recovery and Resiliency Efforts in South Carolina
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $17.3 million in grants to the state of South Carolina to support disaster recovery and resiliency efforts. “EDA is committed to helping communities across South Carolina rebound and build back stronger following natural disasters,” said Dennis Alvord, Acting Assistant Secretary of Commerce for…
EDA: $13.2 Million Invested to Boost Northern Marianas College’s Capacity to Support Business and Job Growth
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $13.2 million grant to Northern Marianas College (NMC), Saipan, Commonwealth of the Northern Mariana Islands, to increase the college’s capacity to support regional economic development. This EDA grant is expected to help create 272 jobs and generate $13.5 million in private investment….
EDA: $10.2 Million in CARES Act Recovery Assistance Invested to Support Economic Growth and Resiliency Efforts in Texas
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $10.2 million in CARES Act Recovery Assistance grants to help the state of Texas prevent, prepare for, and respond to coronavirus. “EDA is committed to helping communities across Texas fight economic hardships brought on by COVID-19,” said Dennis Alvord, Acting Assistant Secretary of…
EDA: $8.6 Million Invested to Boost the University of Guam’s Capacity to Support Economic Growth
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $8.6 million grant to the University of Guam, Mangilao, Guam, to increase the university’s capacity to support regional economic development. The EDA grant, to be matched with $1.7 million in local investment, is expected to create 243 jobs. “The damage caused by…
EDA: $5 Million Invested to Make Water System Improvements in Reno, NV
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $5 million grant to the city of Reno, Nevada, to make water infrastructure improvements needed to support regional business and job growth. This EDA grant, to be matched with $9.8 million in local investment, is expected to create 144 jobs and generate…
EDA: $4.2 Million in CARES Act Recovery Assistance Invested to Support Pandemic Response and Resiliency Efforts in Louisiana
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $4.2 million in CARES Act Recovery Assistance grants to help the state of Louisiana prevent, prepare for, and respond to coronavirus. “EDA is committed to helping communities across Louisiana fight economic hardships brought on by COVID-19,” said Dennis Alvord, Acting Assistant Secretary of…