Economic Development Administration Awarding $4.5 million Grant to Sitnasuak Native Corporation to Support Energy Infrastructure Improvements

At the end of September, U.S. Secretary of Commerce Gina Raimondo announced that the Department's Economic Development Administration (EDA) awarded a $4.5 million grant to Sitnasuak Native Corporation (SNC) to support energy infrastructure.

The grant will aid in securing and strengthening existing fuel tank storage operations. SNC subsidiary, Bonanza Fuel, supplies the majority of Nome with fuel and heating oil. Scot Henderson, Bonanza Fuel CEO, stated that this project is crucial for sustaining operations. Factors such as climate change have made an upgrade necessary to ensure safe and effective operations. The EDA investment will be matched with $12.7 million in local funds and is expected to retain 817 jobs and generate $5 million in private investment.

SNC CEO, Charles Fagerstrom, states that this demonstrates the corporation's commitment to the region's sustainability and the vital energy infrastructure required by our community and surrounding areas. We express our sincere gratitude to the numerous individuals, representatives, and team members who helped secure this grant for our region and acknowledge their contribution as a lasting investment.

The project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided the EDA with an additional $438 million for the Economic Adjustment Assistance (EAA) Program. These funds are designated for disaster relief and recovery efforts in areas that received a major disaster declaration due to hurricanes, wildfires, flooding, and other natural disasters in 2021 and 2022.

Read the full article on the EDA's website, linked here.