US Department of Commerce Invests $300,000 to Boost UAA’s Capacity to Help Communities and Businesses

“EDA has made a long-term commitment to Alaska,” said Governor Mike Dunleavy. “The EDA CARES Act funding further sustains and continues the work of our University of Alaska Anchorage, EDA University Center, a program striving to advance economic development across all of Alaska for nearly 30 years. EDA’s ongoing investment is a great example of how the Federal government, State government, and University system can work in close collaboration to help communities, entrepreneurs and small businesses navigate these unprecedented times.”

“The COVID-19 pandemic has affected nearly every area of public life, particularly our economy,” said Congressman Don Young. “The CARES Act was crucial for supporting our economy at a time of crisis, and providing funding for recovery. I am pleased to see the Economic Development Administration making significant investments in Alaska’s economy. This funding will go a long way toward ensuring the University of Alaska can continue supporting Alaskan businesses while we work to overcome the threat of COVID-19. I want to thank President Trump and Secretary of Commerce Wilbur Ross for their continued partnership on behalf of our state’s businesses and families.”

University of Alaska-Anchorage, a current  EDA University Center grantee, is one of the more than 850 existing, high-performing EDA Economic Development District, University Center, Tribal, and Revolving Loan Fund (RLF) grant recipients invited to apply for supplemental funding under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

The CARES Act, signed into law by President Donald J. Trump, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to the coronavirus pandemic.

On May 7, Secretary Ross announced that EDA is accepting applications for CARES Act Recovery Assistance funding opportunities.

EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic. For complete information, please visit our recently updated EDA CARES Act Recovery Assistance page.