WASHINGTON – Senator Chuck Grassley today said that the U.S. Department of Commerce’s Economic Development Administration has awarded a $5.5 million grant to Cedar Falls.
Cedar Falls will use the funds to assist ongoing disaster recovery from the 2008 floods, including transportation infrastructure at the Cedar Falls Industrial Park.
The Economic Development Administration serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States through the promotion of innovation and competitiveness and preparing regions for growth and success in the global economy.
According to the Economic Development Administration, the Disaster Recovery Project works to minimize economic dislocations resulting from natural and other disasters, improving responsiveness and effectiveness in the recovery process.