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Hillary Sherman-Strategic Investment through Strategic Partnerships WEDN 2019

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Strategic investment through strategic partnerships. Understanding how EDA can work and advance regional economic development

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Hillary Sherman-Strategic Investment through Strategic Partnerships WEDN 2019

  1. 1. Understanding how EDA can work and advance regional economic development
  2. 2. CITY MARKET-WORKFORCE DEVELOPMENT TRAINING CENTER
  3. 3.  Electrical- Residential and Commercial Wiring  HVAC Technology  NCCER Construction I  NCCER Construction II  Plumbing  Small Engine Mechanic
  4. 4. Transportation15
  5. 5. Transportation16
  6. 6. Transportation
  7. 7. Transportation18
  8. 8. EDA’s mission is to lead the Federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. 20
  9. 9. To foster economic development communities need to leverage core assets – and often must consider multiple resources to accomplish this. 21 Resilient Community Physical Infrastructure (water, sewer, gas, broadband) Workforce Available capital providers Strong assets of Place Strong Governmental Capacity Strong organizational partnerships across region Thread Capital SBA Carolina Small Business DF Private Lenders DOL Local Workforce Boards USDA NC Rural Center COGs/EDDs NC EDP NC DOC Prosperity Zone Planners NC Commerce NC DEQ NC School of Government Community Colleges NC Emergency Management Community Organizations EDA Golden Leaf Foundations
  10. 10. EDA provides three primary functions 22
  11. 11. 2 3 Public Works and Economic Adjustment Assistance Programs Key Things to Know 1 2 3 4 5
  12. 12. 2 4 Public Works and Economic Adjustment Assistance ProgramsProcess EDR Consultation Proposal Application Further Consideration (if favorably reviewed) Due Diligence (if favorably reviewed) Award (if favorably reviewed) Project Begins (if favorably reviewed)
  13. 13. Value of changing the ask: What can EDA fund? What do you need that may align with EDA requirements and regulations?
  14. 14. 26 2 6 2017: Economic Adjustment Assistance Program Investment Funds capitalized of RLF that provides loan funds to support business expansion across a 17-county region in western North Carolina. The fund is making small business loans from $1,000 to $200,000 to start-up businesses and existing small-to-mid sized businesses in growth mode across the region where traditional bank loans are not available or sufficient. Mountain BizWorks
  15. 15. 27 2017: Public Works Provides critical resources to support construction of a new water tank, booster pump station, and expansion of a 24-inch water line to support creation of 180 new jobs and $330 M in private investment at Clearwater Paper Corporation
  16. 16. 28 2 8 2016: Public Works  Supports construction of new building housing industrial chemistry laboratory, advanced manufacturing technology simulation laboratory, advanced manufacturing technology simulation laboratory and STEM lab to support numerous beneficiaries totaling 225 jobs and $24.7 million private investment Bladen Community College
  17. 17. 29 2016: Economic Adjustment Assistance Provides critical resources to support Town’s ability to accept and treat additional flow from expansion of Advanced Superabrasives
  18. 18. 30 3 0 2017: Public Works  Supports job creation at Berry Hill Regional Mega Park City of Eden
  19. 19. 31 2013: Public Works Provides resources to support construction of incubator at UNC-Pembroke. Since 2016 when the facility opened, 122 clients have been served, 56 active businesses have been supported, and 94 jobs have been created
  20. 20. 32 2017: Economic Adjustment Assistance Provides resources to hire staff to support recovery and resiliency efforts in most impacted communities in eastern NC
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  23. 23. 35
  24. 24. 36
  25. 25. 37

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