US Department of Commerce Invests $300,000 to Boost UAA’s Capacity to Help Communities and Businesses
The US Department of Commerce’s Economic Development Administration (EDA) is awarding a $300,000 CARES Act Recovery Assistance grant to the University of Alaska Anchorage to boost their capacity to support regional economic development strategies in response to the coronavirus pandemic. This is the first EDA CARES Act Recovery Assistance investment being made in the bureau’s Seattle region.
“The Trump Administration is eager to allocate these essential CARES Act funds and deliver on our promise to help American communities recover from the impact of COVID-19,” said Secretary of Commerce Wilbur Ross. “I am proud of the perseverance and strength shown by our communities coast to coast throughout this pandemic, and these funds will help provide Alaska with the necessary resources to make a swift and lasting economic comeback.”
“This investment comes at a crucial time to help Alaska’s and our nation’s economy come roaring back and provide hard-working Americans with new opportunities,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “We are pleased to make this investment in the University of Alaska Center for Economic Development to scale up efforts to assist economic development organizations, tribes, businesses, and entrepreneurs in the state adapt to this global crisis.”
“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.
In This Issue
Hardware Hangs In
Turns out, predicting the effects of a pandemic on a global economy is kind of impossible. In the midst of the uncertainty, those companies that crumbled and those that found ways to thrive seemed random at times, depending on local economies, access to financial aid, the unpredictability of consumers, changing regulations, and a little bit of “who knows.”