U.S. Department of Commerce Intends to Invest $43.1 Million in Disaster Supplemental Funding to Support the Maritime Industry in Alaska
WASHINGTON – Today, the U.S. Department of Commerce announced that the Economic Development Administration (EDA) intends to award $43.1 million in Disaster Supplemental funding to the Wrangell Industry Transformation Coalition, to support the maritime industry in Alaska.
This award will provide for the construction of a maritime industrial hub, the installation of a floating dock to accommodate large vessels and increased tourism, and infrastructure improvements to ensure a reliable water supply for local industries. It is provided in response to a devastating landslide that impacted the region in 2023.
“Under President Trump, this Administration is using federal funds to attract private investment and build lasting infrastructure. With this over $43 million grant, the Department of Commerce is transforming Wrangell’s economy into a leading industrial hub, creating hundreds of new jobs, boosting regional output, and building lasting resilience for one of the state’s most remote coastal communities,” said U.S. Commerce Secretary Howard Lutnick.
The EDA Fiscal Year 2025 Disaster Supplemental Grant Program is making approximately $1.45 billion available to support economic recovery activities in areas that received major disaster declarations because of hurricanes, wildfires, severe storms and flooding, tornadoes, and other natural disasters occurring in calendar years 2023 and 2024. The intended awards announced today are provided through the program’s Industry Transformation Pathway, which was designed to accelerate the pace and scale of developing new sectors or existing sectors through large-scale, catalytic grants that support the implementation of coordinated projects in disaster-impacted communities.
“The Economic Development Administration will make targeted investments to catalyze private-sector investments and help disaster-impacted communities economically recover by transforming local industries so they are primed for long-term growth,” said Deputy Assistant Secretary and Chief Operating Officer Ben Page, performing the nonexclusive duties and functions of the Assistant Secretary. “This project will support rebuilding efforts within affected communities while changing the trajectory of their regional economies to drive sustained economic prosperity for years to come.”
EDA continues to review applications for portions of the Disaster Supplemental Grant Program on an ongoing basis – please review the notice of funding opportunity for more details.
EDA releases announcements for grants over $1 million. Visit eda.gov for more information on all EDA awards and programs.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.