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Economic Development Administration awards Region 9 with two grants totaling $743,000

The Region 9 Economic Development District of Southwest Colorado announced that it will receive $743,000 through two awards from the U.S. Department of Commerce’s Economic Development Administration.

The Rise and Recover Together COVID recovery funds will support the recovery efforts in the five-county area, as well as the Southern Ute and Ute Mountain Indian Reservations.

Loan funding of $440,000 will help support qualifying businesses’ ability to reopen and recover. This COVID-EDA-RLF will supplement traditional funding sources by providing gap financing, but also work to diversify and strengthen each community’s unique economies. The hope is that post-COVID businesses will be able to expand and create jobs long-term.

Additionally, Region 9 was awarded $303,000 to assist communities impacted by the COVID crisis through the Rise and Recover Together initiative. This program will support recovery efforts in the five-county area by providing a Recovery Coordinator in Archuleta County, support for the SWCODA website and other services to respond to recovery efforts over the next two years.

For more information, contact Region 9 at 247-9621 or www.scan.org.