U.S. Department of Commerce Awards $3.1 million to Triad Organizations
The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $3.1 million in grants to support business development and job growth in North Carolina communities impacted by the declining use of coal.
Gateway Research Park Inc., Greensboro, will receive a $2.1 million grant to expand a manufacturing facility in support of the growth of minority-owned businesses. The EDA investment will be matched with $750,000 in local funds and is expected to create 33 jobs, retain 25 jobs and generate $3.1 million in private investment, according to grantee estimates.
S.G. Atkins Community Development Corporation, Winston-Salem, will receive a $1 million grant for expansion of the Enterprise Center, to support the development of additional food-based businesses. The EDA investment will be matched with $300,000 in local funds and is expected to create 50 jobs, retain 15 jobs and generate $680,000 in private investment, according to grantee estimates.
“The Economic Development Administration is dedicated to working with communities to support their locally-driven strategies to recover and rebuild from the pandemic,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is pleased to support projects in Greensboro and Winston-Salem designed to drive innovation and create good-paying jobs.”
This award is an example of what communities can do under EDA’s new American Rescue Plan programs; particularly the $300 million Coal Communities Commitment. This investment will ensure that coal communities have the resources they need to recover from the pandemic and will help create new jobs and opportunities, including through the development or expansion of a new industry sector.