WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH) announced that the United States Department of Commerce’s Economic Development Administration (EDA) has awarded a $300,000 investment to Cleveland State University in Cleveland, Ohio. The funds will be used to help the university respond to economic hardships brought on by the coronavirus pandemic.
This investment will provide supplemental financial assistance and enable the Cleveland State to undertake one or more of the following pre-approved activities:
· Providing technical assistance to entrepreneurs, businesses, and communities, to help address the economic impacts caused by Covid-19.
· Moving courses to an on-line platform.
· Conducting and distributing research to address challenges.
· Providing adequate funding for technology support for pandemic-response activities.
· Assisting communities in workforce training and other professional development programs.
“These funds will provide Cleveland State with the additional tools and resources to address the economic fallout from Covid-19,” said Brown. “This investment will not only support faculty and students, but will also lead to more jobs and economic growth in Cleveland and the surrounding area.”
The EDA is the only federal government agency focused exclusively on economic development. The program is designed to provide financial assistance to communities, and promote economic development. The CARES Act, signed into law on March 27, 2020, provides the EDA with $1.5 billion specifically for economic development assistance programs to help communities prevent, prepare, and respond to coronavirus.