Idaho state image

Clearwater Economic Development Association (CEDA) will administer $1,401,000 in CARES Act Recovery Assistance funds awarded by the Economic Development Administration (EDA) to help North Central Idaho communities and businesses respond to economic crisis caused by the coronavirus pandemic. 

“The award will allow the region to respond to the unprecedented challenges through actions that will lead to a quicker recovery and long-term regional economic sustainability,” said Christine Frei, CEDA Executive Director.

The EDA’s CARES Act Recovery Assistance includes $400,000 to update economic recovery plans and fortify programs to address regional economic injury impacts of coronavirus. The two-year program’s two prong focus is the development and implementation of regional economic recovery plans and providing technical assistance and capacity building support to businesses, industries, and communities addressing recovery issues such workplace changes, digital skills, supply chain disruption, and employee training. 

Additionally, $1,001,000 of the investment focuses on small business via capitalization of a revolving loan fund (RLF) from which direct loans will be issued to fund projects key to local and regional economic recovery and resiliency. EDA included provisions under the award that allow for fee waivers and favorable repayment terms, as well as direct technical assistance, to help applicants access the funding and ensure project success. 

CEDA (www.clearwater-eda.org) is an EDA recognized planning district and has been connecting communities and businesses to resources since 1968. Contact 208-746-0015 for information.

Your support is needed now more than ever
Help support your local news

Local news sources need your help. Stay in the know on Coronavirus, local updates, and more.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.