WASHINGTON D.C. – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $700,000 grant to Jonesboro Unlimited in Jonesboro, Arkansas, to support business development and expansion.
This grant will support the JumpStart Jonesboro Project, which provides comprehensive business assistance to local entrepreneurs and small business owners. This EDA investment will be matched with $175,000 in local funds.
“The Economic Development Administration plays an important role in supporting locally driven disaster recovery and resiliency plans,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This investment will ensure the local economy fully rebounds and has all the tools needed to thrive in the event of future natural disasters.”
This project was made possible by the regional planning efforts led by the East Arkansas Planning & Development District (EAPDD). EDA funds EAPDD to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
This project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.
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.
