Economic recovery funds available for Oil Spill affected areas

The U.S. Commerce Department’s Economic Development Administration (EDA) announced on Thursday, September 23, the availability of an additional $5 million to boost planning and technical assistance for states affected by the BP Deepwater Horizon oil spill. EDA seeks competitive applications for this federal funding opportunity (FFO) targeting Alabama, Florida, Louisiana, Mississippi, and Texas.

In July, Congress provided this supplemental funding for EDA to assist further in local economic recovery activities. To date, EDA has distributed nearly $10 million in grants to help Gulf Coast communities recover from the spill.

“The Obama administration has been working tirelessly since this disaster began to strengthen the region’s coastal economy and help restore a healthy ecosystem,” U.S. Assistant Secretary of Commerce for Economic Development John Fernandez said.

“At the direction of President Obama, Secretary Locke, myself and several other administration officials have traveled to the Gulf Coast on numerous occasions to hear from local officials and businesses impacted by the spill. The important assistance EDA is providing will bolster local planning and technical assistance efforts that are critical to reinvigorating the Gulf region.”

The funding announced on Thursday is available through EDA’s Economic Adjustment Assistance (EAA) Program, which can offer a wide range of technical, planning, public works and infrastructure assistance in regions experiencing adverse economic changes as a result of natural and man-made disasters.

EDA will consider applications specifically for planning or technical assistance under the additional funding announced Thursday. No awards will be made under this competitive solicitation for infrastructure improvements or revolving loan fund grants. Applications must be submitted electronically via www.grants.gov and will be accepted on a continuing basis and processed as received. EDA expects to have all funding under this FFO awarded by September 2011.

This opportunity is part of the Obama administration’s overall effort to help the Gulf Coast region regain its economic footing. At the President’s direction, Navy Secretary Ray Mabus and other federal officials have met with people throughout the region to discuss long-term economic and environmental restoration ideas.