U.S. Commerce Secretary Gary Locke Announces $1.8 Million Investment to Create Jobs, Strengthen Economy in Port Isabel, TX
April 21, 2009
EDA Grant Expected to Create 85 Jobs and Generate $43 Million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.8 million investment by the Economic Development Administration (EDA) in the Port Isabel San Benito Navigation District of Port Isabel, Tex., to help rebuild the general purpose dock that was destroyed by Hurricane Dolly in 2008. The project is expected to create 85 jobs and generate $43 million in private investment, according to grantee estimates.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's competitiveness," Locke said. "The new and improved Port Isabel San Benito Navigation District dock will provide the critical marine facilities needed to retain and boost the essential offshore oil discovery sector."
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.