In This Issue

• Spotlight: EDA’s Trade Adjustment Assistance Centers Spur Growth and Global Competition for American Businesses
• Success Story: Krampade Sports Drink Leverages Revolving Loan Fund to Secure Public/Private Investment for Business Growth
• Highlight: Improvement in Local Drinking Water Enables Businesses and Communities to Prosper in Sanger, California

Spotlight: EDA’s Trade Adjustment Assistance Centers Spur Growth and Global Competition for American Businesses

The Trade Adjustment Assistance for Firms (TAAF) program was established by Congress under the Trade Expansion Act of 1962. Through the TAAF program, the U.S. Department of Commerce’s Economic Development Administration funds a national network of 11 non-profit and university-affiliated Trade Adjustment Assistance Centers (TAACs) to strengthen the competitiveness of American companies that have lost domestic sales and employment because of increased imports of similar goods and services. In general, the program provides cost-sharing technical assistance to eligible import-impacted American firms. Firms receive technical assistance to create and implement targeted business recovery plans.

When a Wyoming manufacturer of laboratory equipment entered the TAAF program with Rocky Mountain Trade Adjustment Assistance Center (RMTAAC) in 2016, the company had experienced a 33 percent drop in sales due to Asian import competition.

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Success Story: Krampade Sports Drink Leverages Revolving Loan Fund to Secure Public/Private Investment for Business Growth

EDA makes Economic Adjustment Assistance (EAA) grant awards to establish Revolving Loan Funds (RLFs) that make loans to businesses that cannot otherwise obtain traditional bank financing. These loans provide access to capital as gap financing that enables small businesses to grow and lead to new employment opportunities with competitive wages and benefits.

The economic development priorities of each RLF are defined in a specific RLF Plan that guides the lending strategy within its defined lending area. Most RLFs make general business loans focused on creating and retaining jobs while leveraging other sources of capital. Some RLFs focus lending to certain sectors or industries. Krampade LLC, a borrower of RLF recipient Grand Forks Growth Fund, is a North Dakota-based sports drink company that was founded in 2015. Krampade is a powder that mixes into water for use in mitigating acute and chronic cramping.

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Highlight: Improvement in Local Drinking Water Enables Businesses and Communities to Prosper in Sanger, California

On July 8, the city of Sanger, California hosted a ribbon cutting to celebrate the new operation of the city’s new water system and holding tank. The 750,000-gallon tank, nitrate blending station, and booster pump is a joint project with the California Division of Drinking Water and a $1.2 million EDA investment to help the city serve its residents with clean water.

The new tank was built to improve water pressure and water quality year-round. The project, which was completed in a year, also secured an additional $4 million in state funding.

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U.S. Department of Commerce Awards $1 Million for R2 Network Challenge for Innovation in Disaster Response and Resiliency Technology

On July 1, EDA, along with the National Institute of Standards and Technology (NIST) and the First Responder Network Authority (FirstNet Authority), announced the awardee of the Accelerate R2 Network (R2 Network) Challenge. The R2 Network Challenge is an interagency program that connects stakeholders in the response and resilience (R2) industries, accelerating the speed at which startups and other organizations can bring innovations to the public safety market, create new businesses and jobs, and support community resilience. Read about the agencies selected in the official DOC press release.

EDA CARES Act Job Opportunities Available: Work on the Front Lines to Help American Economy Recover from COVID-19

EDA is supporting the whole-of-America effort to help our nation’s communities respond to and recover from COVID-19. If you or someone you know is interested in joining our team to support our CARES Act Recovery Assistance work, visit https://www.eda.gov/careers/ for up-to-date information on our latest openings.

Summertime with the CEDS

The NADO Research Foundation is pleased to host “Summertime with the CEDS,” a mix of free online content ranging from webinars to workshops to support your CEDS planning and implementation efforts. Contact Brett Schwartz at bschwartz@nado.org for more information.

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Federal grant will benefit University of Alaska
KINYradio.com, 6/24/2020

Northwest Pennsylvania Regional Planning & Development Commission Awarded $400,000 Grant for Coronavirus Recovery
Erie News Now, 6/24/2020

Greater Egypt Planning and Development Commission receives $400K for pandemic recovery
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White House Opportunity and Revitalization Council Delivers Report to President Donald J. Trump
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Three Rivers awarded $400,000 to assist in region's economic recovery efforts
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Secretary of Commerce Wilbur Ross Announces Major Grant for IRSC Treasure Coast Manufacturing Center
WQCS, 6/2/20

Prioritizing HBCU during the global pandemic and national recovery
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