U.S. Commerce Secretary Gary Locke Announces $1.5 Million Investment to Create Jobs, Strengthen Economy in Columbia, Kentucky
April 21, 2009
EDA Grant Expected to Create 487 Jobs and Generate $15.2 Million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.5 million investment by the Economic Development Administration (EDA) in the Adair County Water District of Columbia, Ky., to make the water system improvements needed to support new and existing business development. The project is expected to create 487 jobs and generate $15.2 million in private investment, according to grantee estimates.
"The Obama Administration is committed to creating jobs and expanding economic opportunity," Locke said. "This EDA investment in the Adair County Water District will create new jobs and boost private investment in the region by building the infrastructure to support new and existing businesses in an area severely impacted by natural disasters in 2008."
EDA supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy. In its 2009 budget, EDA was appropriated $500 million to distribute in grants to communities impacted by natural disasters.
Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.