WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $662,922 CARES Act Recovery Assistance grant to the city of Salem, Massachusetts, to implement a recovery strategy to plan for long-term recovery and ensure the region’s tourist economy remains competitive in the future. This EDA grant, to be matched with $165,730 in local investment, is expected to create nearly 400 jobs.
“The Economic Development Administration 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. “This EDA investment will implement a recovery strategy designed to advance sustained long-term recovery from the pandemic and ensure downtown Salem remains a nationally and globally competitive tourism destination.”

“As a premier tourist destination in Massachusetts whose historic sites, museums, restaurants, lodging, and other small businesses were forced to close, Salem’s economy has been drastically impacted by the coronavirus pandemic,” said Senator Ed Markey. “The City of Salem has taken an innovative approach to support its economy throughout this crisis, and this federal funding will play a critical role in helping Salem rebuild its tourism and hospitality industries.”

“Tourist destinations in Salem and across the Commonwealth help fuel our national and regional economy,” said Senator Elizabeth Warren. “This much-needed economic relief is essential to helping the City of Salem respond to and recover from the impacts of COVID-19, and I’ll keep pushing the federal government to support communities that have been hit hard by this public health emergency.”
The project will allow Salem to implement a tourism industry recovery strategy, including a  visitor marketing campaign; alternative events programing; industry-based technical assistance for small businesses; and the creation of a comprehensive economic diversification strategy to identify promising industries for diversification based on regional economic trends, as part of a three-stage COVID-19 Business Recovery Plan formulated in conjunction with the city’s Economic Development Recovery and Revitalization Task Force.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
About the U.S. Economic Development Administration (www.eda.gov)
The U.S. Economic Development Administration (EDA) mission 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 makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.