Region wins CARES Act grant for economic recovery

$400,000 to help industries respond to pandemic in central Puget Sound

The Central Puget Sound Economic Development District will receive a $400,000 CARES Act Recovery Assistance grant to respond to economic impacts from the coronavirus pandemic.

The grant will be used to support industry clusters critical to the stability of the region and assist in developing industry-specific disaster recovery and resiliency plans.

It is one of six grants from the Economic Development Administration awarded to economic development district organizations within Washington state.

The CARES Act provides the Economic Development Administration with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to the coronavirus pandemic.

In the Puget Sound region, the CARES Act grant will support regional coordination of disaster economic recovery efforts.

These efforts include technical assistance programs, worker training, infrastructure investments such as broadband, and others. The grant will help identify locally generated disaster recovery economic development projects and funding opportunities to implement them.

The grant will also support economic development planning and coordination to develop industry-specific disaster recovery and resiliency plans.

These efforts will target regional industry areas that have experienced significant economic shocks, including aerospace, manufacturing, and tourism.

PSRC supports the work of the Central Puget Sound Economic Development District (EDD), the federally designated economic development district for King, Pierce, Snohomish and Kitsap counties. EDD board members include representatives from private business, local governments, tribes and trade organizations.

The board is responsible for development and adoption of Amazing Place, the region’s Comprehensive Economic Development Strategy.