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Contact: John Atwood, 202-482-4085
Tuesday, April 24, 2012
WASHINGTON - U.S. Commerce Secretary John Bryson today announced a $1.8 million Economic Development Administration (EDA) grant to the city of Wabash, Indiana, to make critical infrastructure improvements needed to support the development of a new business park. The new business park is expected to generate approximately 540 new jobs and leverage $60 million in private investment, according to the grantee estimates.
"This $1.8 million EDA investment in Wabash is an example of the Obama Administration's commitment to supporting a 21st century infrastructure," Bryson said. "The grant announced today will provide resources to Indiana that will help attract new businesses to Wabash and the surrounding region, thereby creating hundreds of jobs and modernizing a critical foundation of an economy built to last."
The EDA investment funds the construction of roadway improvements and sewer, water, and drainage facilities to serve a city-owned 155-acre business park. The new business park will strengthen the region's competitiveness by diversifying its economic base. Businesses locating in the park will be encouraged to implement green technology and energy-efficient systems.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) 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.