U.S. Commerce Secretary Gary Locke Announces $2.5 Million Investment to Create Jobs, Strengthen Economy in Chico, California
December 28, 2009
Contact: Lindsey Pangretic, (202) 482-4085
EDA Grant Expected to Create 1,140 Jobs and Generate $11.4 Million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $2.5 million Economic Development Administration (EDA) grant to the city of Chico, Calif., to help improve Cohasset Road, a major transportation corridor serving the Municipal Airport Industrial Park and adjacent commercial and industrial sites. The project is expected to create 1,140 jobs and generate $11.4 million in private investment, according to grantee estimates.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "We can't rest until every American who wants a job can find one. This grant provides the major transportation improvements needed in Chico to create new jobs and increase business development."
The Department of Commerce is a voice for Main Street businesses that works to grow local economies by fostering innovation and opening markets to U.S. products and services. Locke is a member of President Barack Obama's economic team.
EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster economic growth and job creation. 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 global 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.