U.S. Department of Commerce Invests $5.3 Million in CARES Act Recovery Assistance to Support Skills Training and Business Development Programs in Southeast Idaho
Contact: EDA Public Affairs Department, (202) 482-4085
May 17, 2022
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is providing $5.3 million in CARES Act Recovery Assistance Grants for helping communities in southeast Idaho respond to the economic impacts of the coronavirus pandemic.
Investments announced today will facilitate infrastructure improvements to support skills training in Blackfoot, Idaho, and capitalize a revolving loan fund to provide critical gap financing to businesses in a seven-county southern region. -eastern Idaho. They will be matched with $3.8 million in local funds.
“President Biden is focused on ensuring that our nation not only recovers from this pandemic, but builds a stronger America,” Commerce Secretary Gina M. Raimondo said. “Americans must have access to the skills needed to succeed, and businesses must be able to tap into the resources they need to grow and create well-paying jobs.”
“The Economic Development Administration is committed to helping communities across the country implement strategies to alleviate economic hardship brought about by the coronavirus pandemic,” said the Assistant Secretary of Commerce for Economic Development, Alejandra Y. Castillo. “These EDA investments will support the growth and resilience of the economy in Southeast Idaho by facilitating job training and business development opportunities throughout the region.”
EDA’s investments announced today are:
- Blackfoot School District #55, Blackfoot, Idaho, will receive a $3.3 million EDA CARES Law Recovery Assistance Grant to convert an existing facility into a vocational training center offering courses in automotive repair, welding, nursing and other in-demand occupations. The EDA investment will be matched with $3.3 million in local funds and is expected to create 15 jobs, according to recipient estimates.
- The Council of Governments of Southeast Idaho, Pocatello, Idaho will receive a $2 million EDA CARES Law Recovery Assistance Grant to capitalize and administer a revolving loan fund that will provide funding for boost to small businesses in Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida and Power counties. The EDA investment will be matched with $500,000 in local funds and is expected to create 125 jobs and retain 200 jobs, according to recipient estimates.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to to help communities prevent, prepare for and respond to the coronavirus. The EDA CARES Act Recovery Assistance, which is administered under the office’s Flexible Economic Adjustment Assistance (EAA) Program (PDF), provides a wide range of financial assistance to communities and regions eligible as they react and recover from impacts. of the coronavirus pandemic.
About the United States Economic Development Administration (www.eda.gov)
The mission of the United States Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing regions across the country for growth and success in the global economy. An agency of the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration to create jobs for American workers, promote American innovation, and accelerate long-term sustainable economic growth.