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The U.S. Department of Commerce’s Economic Development Administration announced Monday that it will award a $650,000 CARES Act Recovery Assistance grant to Startup Junkie Foundation of Fayetteville, to provide technical assistance to small businesses affected by the coronavirus pandemic in northwest Arkansas.
“This project will provide consulting services to and connect entrepreneurs with experts to ensure that the region’s robust culture of entrepreneurship remains competitive,” Dana Gartzke, assistant secretary of commerce for economic development, said in a news release. “The nearby [Tax Cuts and Jobs Act] Opportunity Zone will further incentivize businesses to invest in the region to reinvigorate the local economy.”
This project was made possible by the regional planning efforts led by the Northwest Arkansas Economic Development District, which EDA funds. The grant will be matched with $192,000 in local funds.
Taylor Hasley, the foundation’s executive director, said the money will help it empower innovators and entrepreneurs “with a specific focus on recovery and resiliency as we expand our service area to include the entire NWA Economic Development District.”