ECONOMIC DEVELOPMENT ADMINISTRATION
Coronavirus Aid, Relief and Economic Security (Cares) Act Funding
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law by President Donald J. Trump, provides the Economic Development Administration (EDA) with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to coronavirus.
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 communities and regions as they respond to and recover from the impacts of the pandemic.
In July 2020, SNMEDD was awarded $400k through the Coronavirus Aid, Relief and Economic Security (CARES) Act Funding through the US Department of Commerce. The funding will address:
- Promotion and technical assistance to local governments who apply for CARES Act funding
- The hiring of a Disaster Recovery Coordinator
- Development of a regional economic recovery plan
- Purchase technology and equipment for improved communications during the pandemic
- Other related Cares Act assistance and activities
DLee Consultants and Associates LLC has been hired as the Disaster Recovery Coordinator and has prepared the SNMEDD Covid-19 Economic Impact Evaluation report which will be updated regularly. DLee Consultants is also forming a regional economic recovery team that will assist in the development of a recovery plan from COVID-19 impacts.
Economic Development Administration (EDA)
The Economic Development Administration (EDA) was established under the Public Works and Economic Development Act of 1965, as amended, to generate jobs, help retain existing jobs and stimulate industrial and commercial growth in economically depressed areas of the United States. EDA’s assistance is available to rural and urban areas experiencing high unemployment, low income or other severe economic distress.
In fulfilling its mission, EDA is guided by the basic principle that distressed communities must be empowered to develop and implement their own economic development and revitalization strategies. Based on these locally and regionally developed priorities, EDA works in partnership with state and local governments, regional economic development districts, public and private nonprofit organizations, and Indian tribes.
Local governments may submit their application(s) online. SNMEDD will assist local entities in both making application and grant administration. There are nine EDA Programs available. Applications should be consistent with the Comprehensive Economic Development Strategy (CEDS) Plan.
HOW TO APPLY
Applications are accepted year-round. Applicants must have an account through www.grants.gov. Once an account has been established, select the link below and follow the next series of steps to access the EDA Proposal via grants.gov.
- Search for “EDAP2017” in the search box
- Click on the link “EDAP2017”
- Select the “Package” tab
- Select the document in the second row for the “Proposal”
For further assistance in completing the application, please contact SNMEDD at (575) 624-6131 or the EDA Representative for the State of New Mexico.