U.S. Secretary of Commerce Gary Locke Announces $3.4 Million Investment to Create Jobs, Strengthen Economy in Redding, California
May 28, 2009
Contact: Bryan Borlik, (202) 482-4085
Grant Expected to Create 630 Jobs and Generate $11.1 million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $3.4 million Economic Development Administration (EDA) grant to the city of Redding, Calif., to help build roadway infrastructure needed for the expansion of the Stillwater Business Park. The project is expected to create 630 jobs and generate $11.1 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. "This grant will strengthen the manufacturing and commercial sectors and boost private investment and job growth by helping to expand the Stillwater Business Park."
The Department of Commerce is a voice for Main Street businesses. It focuses on creating jobs by fostering innovation and opening markets to U.S. products. Locke is a key member of President Barack Obama's economic team.
EDA is an agency within the U.S. Commerce Department and 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.
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.