City of Eagle Pass Receives $3.5 Million EDA Cares Act Recovery Assistance Grant to Operate Small Business Incubator
By: Ricardo E. Calderon, Eagle Pass Business Journal, Inc., Copyright 2021
The United States Department of Commerce’s Economic Development Administration (EDA) announced on Thursday, February 18, 2021, that it awarded a $3.5 Million CARES Act Recovery Assistance Grant to support small business growth by renovating the old Riskind’s Building in downtown Eagle Pass on Main Street for use as a small business incubator and retail center, according to Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development.
The City of Eagle Pass Small Business Incubator and Retail Center will support and attract a variety of industries, including retail, technology, real estate, and innovative energy solutions. The project will be matched with $875,000 in local funds, is expected to create 35 jobs and generate $200,000 in private investment, according to EDA.
Eagle Pass Mayor Luis E. Sifuentes, Mayor Pro-Tem William “Billy” Davis, and City Councilman Place 2 Elias Diaz held a brief press conference on Thursday, February 18, 2021 following a City Council meeting to announce the awarding of the $3.5 Million EDA Grant to the City of Eagle Pass.
Mayor Sifuentes stated the Small Business Incubator and Retail Center Grant was put together and presented to EDA by City of Eagle Pass Economic Development Department Director Arturo Marquez. Sifuentes added that he thanked the U.S. Department of Commerce’s EDA for awarding the City of Eagle Pass this important CARES Act Recovery Assistance Grant and Congressman Tony Gonzales for notifying the City of Eagle Pass on the awarding of the grant.
Mayor Pro-Tem Davis stated he appreciated all of the City staff and City Council for supporting this grant application to EDA.
Councilman Elias Diaz stated the City of Eagle Pass is working diligently on economic development in the community and welcomed the good news in light of the winter storms and COVID-19 pandemic afflicting the city.
“The CARES Act has been a lifeline across Texas and I am happy to see additional investments being made into the program, especially in our district and Eagle Pass,” said Congressman Tony Gonzales. “As we focus on reopening our country and rebuilding our economy, it’s imperative we do everything we can to support our local small businesses and the funds awarded today will help augment these efforts,” added Gonzales.
The City of Eagle Pass’ $3.5 Million grant is part of a larger $19.3 Million CARES Act Recovery Assistance grants awarded to the state of Texas to prevent, prepare for, and respond to coronavirus. “EDA is committed to helping communities across the nation implement strategies to mitigate economic hardships brought on by the coronavirus pandemic,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development.
