Tag: CARES Act

Grow Wabash County has been awarded $50,000 in EDA CARES Act funding for a program designed to teach small Wabash County businesses skills to improve their e-commerce presence. Our team here at Region 3A will be assisting Grow Wabash County as they implement the program. We are very excited about the opportunities that this program will offer to Wabash area entrepreneurs.

E-Commerce Development Program

Grow Wabash County aims to use the funding to further cultivate the development of small businesses by providing resources for e-commerce strategy. The program will offer a variety of resources in order to teach Wabash business owners how to improve their visibility and presence in the digital landscape. The e-Commerce Development Program will be yet another valuable tool from the organization, designed to help entrepreneurs adapt, grow and maximize their existing operations.

What’s Next for Grow Wabash County’s New Program?

As a result of this grant award, the organization is currently accepting Statements of  Qualification (SOQ) from consulting firms that demonstrate knowledge and a clear aptitude  for developing effective e-commerce strategies. 

Details regarding how and when small, for-profit businesses located in Wabash County will be able to participate in this e-commerce program will be announced in late September.  

Further information on the program and a copy of the RFP can be found on the Build Your Business page.

EDA CARES Act Funding 

Region 3A still has funds available to assist other communities with e-commerce programs. Please contact us for additional information. 

About Grow Wabash County  

Grow Wabash County (legal name Wabash County Business Alliance Inc.) is a not-for-profit corporation  that spearheads economic and community development efforts in Wabash County, Indiana. GWC is  designed around five pillars of service – assisting business development needs, promoting livability,  fostering entrepreneurship, supporting workforce development, and offering programming and investor services. GWC was formed with the merger of the EDG of Wabash County and Wabash County Chamber  of Commerce in July 2017. For more information about GWC, please visit www.growwabashcounty.com 

The Economic Development Administration has begun taking applications for their funding opportunity (NOFO) CARES Act. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Trump on March 27 to provide the U.S. Department of Commerce Economic Development Administration (EDA) with $1.5 billion for economic development assistance programs to help communities “prevent, prepare for, and respond to coronavirus.” 

CARES Act Funding

This program will fund eligible economic development projects 80% and up to 100% under certain conditions. Eligible applicants include local governmental entities, institutions of higher educa­tion, not for-profit entities, and federally recognized Tribes. 

EDA Requirements

The EDA’s requirements are that projects must have a commercial/industrial benefit, and that multiple current or incoming businesses benefit from the project. 

Here are the types of projects that the EDA has funded in recent years:

• Infrastructure – Water and sewer
• Industrial parks – New or expansion of existing
• Workforce training facilities
• Business incubators
• Brownfield redevelopment
• Technology-based facilities
• Multi-tenant manufacturing facilities
• Science and research parks
• Telecommunications infrastructure and development facilities
• Revolving loan funds     
• Economic diversification
• Travel and tourism marketing campaigns

The above projects are examples of projects that will be funded, but it is not limited to these types of projects. Projects that specifically address COVID-19 issues, or a project that would allow for resiliency from this pandemic, would have a great opportunity to receive funding.

Applications for the CARES Act

The EDA will award grants to successful applications on a rolling basis. EDA began accepting applications on May 7, 2020 and will deploy its CARES Act funding as quickly, effectively, and efficiently as possible, and in a manner that meets the needs of these communities. 

Funding for eligible projects available on a “first come, first served” basis, so communities and organizations seeking funding should act fast. 

Contact us at region3a@region3a.org for more information on how to get your application started. For information and frequently asked questions regarding the CARES Act, visit the FAQs page of the EDA website.