Advertisement

Floyd Co. to receive $2.3 million federal grant for local business growth, natural disaster relief

Courtesy Floyd County Economic Development Authority
Courtesy Floyd County Economic Development Authority(WDBJ)
Published: May. 5, 2020 at 3:29 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

Floyd County will be the recipient of a multi-million-dollar federal grant toward the construction of the Floyd Growth Center Building set to provide space and assistance for new businesses to grow and support for others during natural disasters.

According to a press release from the U.S. Department of Commerce, the Economic Development Authority of Floyd County will receive a $2.3 million grant estimated to bring another $5 million through private investment.

This grant from the Economic Development Administration (EDA) will be matched with a local investment of $576.385.

The project is being funded by the Additional Supplemental Appropriations for Disaster Relief Act of 2019 that gave the EDA $600 million to help areas affected by the following:

-Hurricanes Florence, Michael and Lane

-Typhoons Yutu and Mangkhut

-Wildfires, volcanic eruptions and different major natural disasters from the 2018 calendar year

-Tornadoes and floods during the 2019 calendar year

Copyright 2020 WDBJ7. All rights reserved.