TYLER, Texas — The U.S. Department of Commerce’s Economic Development Administration (EDA) announced Monday that it will be awarding a $300,000 CARES Act Recovery Assistance grant to the University of Texas at Tyler, to boost their capacity to support regional economic development strategies in response to the coronavirus pandemic.
“The Trump Administration is eager to allocate these essential CARES Act funds and deliver on our promise to help American communities recover from the impact of COVID-19,” Secretary of Commerce Wilbur Ross said. “I am proud of the perseverance and strength shown by our communities coast to coast throughout this pandemic, and these funds will help provide Texas with the necessary resources to make a swift and lasting economic comeback.”
“This investment comes at a crucial time to help Texas’ and our nation’s economy come roaring back and provide hard-working Americans with new opportunities,” Assistant Secretary of Commerce for Economic Development, Dana Gartzke, said. “We are pleased to make this investment in the University of Texas at Tyler’s Entrepreneurship and Innovation Institute to respond to the coronavirus pandemic by working directly with the Economic Development Councils, Chambers of Commerce, and Small Business Development Centers to help them identify their unique challenges and better position themselves to retain their current business ecosystems.”
UT Tyler is one of the more than 850 existing, high-performing EDA Economic Development District, University Center, Tribal, and Revolving Loan Fund (RLF) grant recipients invited to apply for supplemental funding under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The CARES Act, signed into law by President Donald J. Trump, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to the coronavirus pandemic.