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Contact: John Atwood, 202-482-4085
February 22, 2012
Improved Access Will Benefit Local Manufacturing Companies
WASHINGTON - U.S. Commerce Secretary John Bryson today announced a $2.94 million Economic Development Administration (EDA) grant to the Lawrence Economic Development Corporation in South Point, Ohio, to connect the Point Industrial Park to the Norfolk Southern Heartland Corridor Railroad. The project is expected to create 186 jobs and save an additional 500, and spur $11 million in private investment.
"The Obama administration has made significant investments in our nation's infrastructure that are helping U.S. companies to grow and compete," said U.S. Commerce Secretary John Bryson. "This $3 million grant by the Commerce Department's Economic Development Administration will help attract new businesses to the industrial park, allow companies to ship their goods more efficiently to a wider market, and expand the regional innovation cluster to southern Ohio. This project is an important example of how we can create jobs by helping businesses build things here and sell them everywhere."
Among the companies that will directly benefit from this project are two manufacturers, Engines Inc. of Ohio and Liebert Products and Services. The improved access to the Heartland Corridor rail link will allow these companies to expand their operations and potentially reach even wider domestic and overseas markets. The investment aligns with Secretary Bryson's vision for how the Department of Commerce can best partner with the business community to support the president's jobs agenda and help American businesses "build it here and sell it everywhere."
The Point Industrial Park is a 504-acre facility located on the Ohio River. The new rail spur being funded by EDA will give shippers direct access to The Heartland Corridor, which is a new rail line that can accommodate double-stacked intermodal freight cars and reduces transit time between Chicago and East Coast ports.
About the U.S. Economic Development Administration (www.EDA.gov):
The mission of the U.S. Economic Development Administration 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.