WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH) announced that the United States Economic Development Administration (EDA) has awarded two CARES Act Recovery Assistance grants to organizations located in Northwest, Ohio totaling $3.15 million. The funds will be used to help local businesses respond to economic hardships brought on by the coronavirus pandemic.
EDA funds are include:
“These funds will provide the Northwest Ohio region with additional tools and resources to address the economic fallout from COVID-19,” said Brown. “Not only will this investment will build up local infrastructure, but it will develop programs to help Ohioan find good paying jobs”.
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.
EDA grants are awarded through a competitive process based upon the application’s merit, the applicant’s eligibility, and the availability of funds. More information on EDA’s grant process and investment process can be found at www.eda.gov.