| The U.S. Economic Development Administration (EDA) has marked a major milestone by awarding $1 billion in CARES Act grants to help communities and regional economies respond to the coronavirus pandemic. "The Economic Development Administration is pleased to have met this important and significant milestone within one year of the enactment of the CARES Act," said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. "Our CARES Act investments are supporting a variety of critical economic development strategies that are helping our communities recover and set a course for future prosperity. I am proud of the fortitude shown by our grantee partners in responding to this crisis and am inspired by the dedication that EDA's incredible staff has shown in meeting the challenge of quickly getting this critical funding to them." Click here to read more about EDA and the CARES Act. There is much work remaining to return our nation to prosperity following the economic injury wrought by the coronavirus pandemic. EDA will be there - ready and able - to assist our communities in need. On March 11, President Joseph Biden signed the American Rescue Plan (ARP) into law. This historic and sweeping legislation provides additional relief to address the continued impact of the COVID-19 pandemic on the economy, public health, State and local governments, individuals, and businesses. The ARP allocates $3 billion to EDA to assist communities nationwide in advancing their coronavirus recovery and resiliency strategies. On March 27, 2020, nearly a year ago, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was implemented, and $1.5 billion in supplemental funding was provided to EDA to help communities prevent, prepare for, and respond to coronavirus. With its CARES funding, EDA worked with speed and determination to support communities impacted by the virus, including through the rapid infusion of funding to existing partners -- made up of Economic Development Districts, Revolving Loan Fund administrators, University Centers, and Indian Tribes -- as well as competitive investments made to additional grantees across the country. For more information on EDA, please visit us on the web at EDA.GOV. To read more about some of the projects that were funded by the CARES Act, click here. Information on EDA grants is also available via social media, on Twitter, LinkedIn, and Facebook. | 
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