U.S. Department of Commerce Invests $5.3 Million in CARES Act Recovery Assistance to Support Vocational Training and Business Development Programs in Southeast Idaho

WASHINGTON - Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department's Economic Development Administration (EDA) is awarding $5.3 million in CARES Act Recovery Assistance grants to help communities in southeast Idaho respond to the economic impacts of the coronavirus pandemic.

Investments announced today will facilitate infrastructure improvements to support vocational training in Blackfoot, Idaho, and capitalize a Revolving Loan Fund to provide critical gap financing to businesses in a seven-county region of southeast Idaho. They will be matched with $3.8 million in local funds.

"President Biden is focused on ensuring our nation not only recovers from this pandemic but builds a stronger America," said Secretary of Commerce Gina M. Raimondo. "Americans need to have access to the skills required to be successful, and businesses must be able to tap the resources they need to grow and create good-paying jobs."

"The Economic Development Administration is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the coronavirus pandemic," said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. "These EDA investments will support the growth and resilience of the economy in southeast Idaho by facilitating career training and business development opportunities across the region."

The EDA investments announced today are:

• Blackfoot School District #55, Blackfoot, Idaho, will receive a $3.3 million EDA CARES Act Recovery Assistance grant to convert an existing facility into a vocational training center offering coursework in automotive repair, welding, nursing, and other in-demand occupations. The EDA investment will be matched with $3.3 million in local funds and is expected to create 15 jobs, according to grantee estimates.
• Southeast Idaho Council of Governments, Pocatello, Idaho, will receive a $2 million EDA CARES Act Recovery Assistance grant to capitalize and administer a Revolving Loan Fund that will provide gap financing to small businesses in Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida, and Power counties. The EDA investment will be matched with $500,000 in local funds and is expected to create 125 jobs and retain 200 jobs, according to grantee estimates.

This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic 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 eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.

About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.