Sept. 8, 2022 — Last week, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $5 million grant to the City of Cottage Grove to support revitalization of its historic commercial district. This grant is funded by the American Rescue Plan.
This grant will revitalize five blocks of Main Street in Cottage Grove by installing new landscaping, utilities improvements and updated ADA compliance features, enhancing the area’s economic potential. The EDA investment will be matched with $1.3 million in local funds and is expected to create 33 jobs, retain 27 jobs, and generate $650,000 in private investment, according to grantee estimates.
“President Biden is committed to harnessing the full power of the federal government to ensure our nation not only recovers from this pandemic but builds a better America for the future,” said Raimondo. “This EDA investment in Cottage Grove will support the vitality of existing, downtown businesses while attracting new private investment to the area.”
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “We are excited to support the downtown revitalization of Cottage Grove to help create economic opportunity for its residents and the surrounding area.”
Oregon’s U.S. Sen. Ron Wyden said, “This federal investment will spark jobs for Oregonians, help longstanding small businesses in downtown Cottage Grove and generate opportunities for new small businesses in the city’s historic commercial district. I’m gratified the American Rescue Plan I was proud to support is making a real difference on Main Street in Cottage Grove.”
This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
Oregon’s U.S. Sen. Jeff Merkley said, “So many communities across Oregon were greatly impacted by the COVID-19 pandemic in ways big and small, and we need to keep looking for creative paths forward to help them recover and grow, like this revitalization plan for Cottage Grove. The EDA funding going to the city’s historic downtown will enhance its economy and create dozens of good-paying jobs. I am excited to see how the investments will uplift Cottage Grove for years to come.”
Effective in May, EDA has officially closed all of its American Rescue Plan programs for applications. The $3 billion program funding will be awarded on a rolling basis through September.
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.
For more information, visit www.eda.gov.