SHERMAN – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $400,000 in CARES Act Recovery Assistance grants to the Texoma Council of Governments to respond to the coronavirus pandemic by coordinating with rural communities to strategically leverage resources that assist in local economic recovery.
“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 Texas with resources to make a swift and lasting economic comeback.”
“As the coronavirus outbreak destabilizes our way of life, it is critical that we take active measures to ensure that struggling Texas businesses can weather the storm,” said Senator John Cornyn. “I’ll continue to do everything I can to help small businesses in Texas bounce back amid this deadly pandemic.”
In addition to the investments in Texoma, the EDA also announced an additional distribution of nearly $7 million to other councils of government throughout the state of Texas.
These entities, all EDA-designated Economic Development Districts (EDD), are some of the more than 850 existing, high-performing EDA EDD, 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.
“In order to efficiently implement the EDA CARES grant funding, TCOG has begun the process of recruiting a regional project coordinator who will work with an outside consultant to create a region-wide COVID-19 pandemic business and economic development recovery plan for the Texoma region,” stated TCOG’s spokesperson, Sean Norton.
“This individual will provide planning and technical assistance to cities, counties and agencies while attending meetings and seminars and making presentations related to assisting the communities in the region with economic injury related to the pandemic.”
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.
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.
The Texoma Council of Governments is a voluntary association of the local governments in Cooke, Fannin, and Grayson counties. Established in 1968, Texoma Council of Governments promotes economy and efficiency in the coordinated planning and development of the tri-county region through its community and economic development activities. Both directly and through contractors, the Council provides housing, utility assistance, and weatherization services for low-income citizens in the region and assists the elderly through a variety of Area Agency on Aging programs. The Council also facilitates the delivery of grant funding for homeland security and criminal justice.
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