EDA: Investment Made to Support Small Business Growth and Resiliency in Redding, CA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) announced an $880,000 grant to Superior California Economic Development of Redding, California, to capitalize a Revolving Loan Fund (RLF) and to provide technical assistance to potential borrowers in disaster-impacted counties of Shasta, Trinity, Modoc, and Siskiyou. This EDA grant will be matched with $220,000 in…
EDA: Investment Made to Improve Aviation Museum, Boost Tourism in Monroe, LA
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $450,000 grant to Friends of Chennault Aviation & Military Museum, Monroe, Louisiana, to boost tourism in the region by helping to construct an outdoor pavilion, park display and activity area that will aid the display of military aircraft. The grant will be…
FEMA: President Trump Approves Major Disaster Declaration for Montana
FEMA announced that federal disaster assistance has been made available to the state of Montana to supplement state and local recovery efforts in the areas affected by flooding on March 20 to April 10, 2019. The President’s action makes federal funding available to state, eligible local governments and certain private nonprofit organizations on a cost-sharing…
HUD and Census Bureau: Report on New Residential Sales in April 2019
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for April 2019: New Home SalesSales of new single-family houses in April 2019 were at a seasonally adjusted annual rate of 673,000. This is 6.9 percent (±14.0 percent)* below the revised March rate…
Federal Reserve: Report on the Economic Well-Being of U.S. Households Issued
The Federal Reserve Board’s latest Report on the Economic Well-Being of U.S. Households found that most measures of economic well-being and financial resilience in 2018 were similar to, or slightly better than, those in 2017. Overall, the financial experiences reported by the 11,000 adults surveyed in 2018 were largely positive, and many families have experienced substantial gains…
OCC: “Operation Choke Point” Lawsuit Dismissed
The Office of the Comptroller of the Currency (OCC) today released the following statement regarding the dismissal of the long-running lawsuit alleging regulatory pressure to close payday lender bank accounts: The OCC is pleased by the plaintiffs’ decision to dismiss the OCC from their long-running lawsuit (Advance America et al. v. Federal Deposit Insurance Corporation…
EDA: Investment Made to Expand Critical Santa Fe College Business Incubator in Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.8 million grant to Santa Fe College, Gainesville, Florida, to help re-build and expand the Santa Fe College Center for Innovation and Economic Development (CIED) at the Blount Center. The project, to be located in a Tax…
EDA: Investment Made to Reconstruct Bridges and Ensure the Flow of Commerce in Independence County, AR
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is investing $2.5 million in Independence County, Arkansas, to help ensure the continued flow of commerce throughout the region and especially during flood events, an investment to be matched with $625,000 in local funds. “Helping our communities advance their disaster…
CFPB: Financial Education Tool Launched for Active-Duty Servicemembers
“Misadventures in Money Management” Expands to Wider Audience Today the Consumer Financial Protection Bureau (CFPB) significantly expanded its Misadventures in Money Management financial education tool to active-duty servicemembers. Misadventures in Money Management (MIMM.gov ) was initially developed for future servicemembers who signed a contract to enlist in the armed forces, but had not yet shipped off…
CDFI Fund: $3.5 Billion Announced in New Market Tax Credits
Awards will Spur Economic and Community Development Nationwide Washington – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $3.5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 73 Community Development Entities (CDEs) were…