CARES Act Funding for Economic Development

Last Updated: 
May 21, 2020

New federal funding is available for planning and implementing economic recovery strategies in response to the coronavirus pandemic.

The CARES Act included $1.5 billion for the Economic Development Administration to administer grants to plan and implement economic recovery strategies in response to the coronavirus pandemic. The U.S. Secretary of Commerce Wilbur Ross has announced that the agency is accepting applications from eligible grantees for this funding.

Frequently Asked Questions

How do I apply?

You apply for these funds directly at Grants.gov. The specific funding opportunity to apply for is: FY 2020 EDA Public Works and Economic Adjustment Assistance Programs including CARES Act Funding (Opportunity: PWEAA2020)

How much funding is available?

There is $1.5 billion total available in this grant opportunity. The Seattle region, made up of Washington, Alaska, Oregon, Idaho, California, Nevada, Arizona, Hawaii and the Pacific islands, has been allocated $266 million.

What funds can be used for?

Planning, technical assistance, entrepreneurial support programs, skills training and workforce development, revolving loan funds, and public works projects including the deployment of broadband.

Successfully funded projects will need to respond to the impacts of coronavirus and develop and implement strategies to diversify regional economies. For examples of successful EDA projects, visit http://www.eda.gov/annual-reports/.

Who is eligible?

Eligible organizations include: Economic Development District Organizations; Indian Tribes; state, county, city governments or other political subdivisions or special purpose districts; institutions of higher education; and non-profit organizations acting in cooperation with officials of a political subdivision of a state. Individuals and for-profit entities are not eligible for this funding.

Resources

Informational Webinar

On May 20, PSRC hosted a webinar to provide an overview of the criteria and application process for the CARES Act funds available through the Economic Development Administration.