Youngstown Times

The US Economic Development Administration awarded the Mahoning Valley Economic Development Corporation a grant worth $2,000,000 to help fund a project in Trumbull County.

The grant was awarded on Dec. 4. The EDA describes the grant as follows:

"This EDA investment supports the Mahoning Valley Economic Development Corporation of Youngstown, Ohio, with establishing the Economically Disadvantaged Growing Entrepreneurs (EDGE) Revolving Loan Fund. The project will provide access to working capital and create a new source of commercial financing in areas impacted by the closure of a prominent automotive plant in Mahoning and Trumbull Counties, located within a designated Opportunity Zone. Once completed, the project will help support women and minority-owned businesses, promote economic diversification, create jobs, and strengthen the regional economy."