U.S. Commerce Secretary Gary Locke Announces $9.55 Million in Grants to Create Jobs, Strengthen Economy in Wisconsin Following 2008 Floods
December 29, 2009
Contact: Lindsey Pangretic, (202) 482-4085
EDA Grants Expected to Create More Than 1,500 Jobs and Generate $59 Million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced $9.55 million in Economic Development Administration (EDA) grants to the state of Wisconsin to create jobs and strengthen the economy in the wake of the 2008 floods.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's economic competitiveness," Locke said. "The floods hit this area hard and these grants are meant to help with the ongoing recovery. Wisconsin's competitiveness will be improved by providing critical business and worker training, spurring new entrepreneurial activity, and supporting local business and industrial parks."
The investments announced today include:
$3.3 million for the Madison Area Technical College of Madison to implement a mobile training program that will help firms in Reedsburg, Portage, and Waterloo become more competitive by incorporating modern manufacturing methods and improving workforce skills.
$2.4 million to the city of Portage and the Columbia County Economic Development Corporation to help build and equip a Leadership in Energy and Environmental Design (LEED) certified business incubator building, make infrastructure improvements to the city-owned industrial park to provide outgrowth locations for businesses graduating from the incubator, and fund an advanced manufacturing training program through the Madison Area Technical College. The project is expected to create 720 jobs and generate $25 million in private investment, according to grantee estimates.
$1.45 million to the Village of Belmont, Wis., to upgrade and expand the local wastewater treatment plant to better serve existing businesses and encourage future business development. The project is expected to save 130 existing jobs, lead to the creation of future jobs, and generate $2 million in private investment, according to grantee estimates.
$1.2 million to the city of Reedsburg to make roadway and water infrastructure improvements to expand the local industrial park and to assure vital broadband connectivity for the local business community by funding the construction of a telecommunications and electric switching station that will be set outside of the flood plain. The project is expected to create 600 jobs and generate $16.5 million in private investment, according to grantee estimates.
$1.1 million to The Village of Randolph to expand the availability of commercial land for business development by expanding the local business park. The project is expected to create 50 jobs and generate $15 million in private investment, according to grantee estimates.
$142,569 to the city of Waterloo to help renovate a city-owned building to create a public facility that will provide entrepreneurial training, both for business and technical services, to an emerging home-based industry sector. Training and consulting will be delivered by the University of Wisconsin Small Business Development Center and the Wisconsin Business Innovation Corporation. The project is expected to create 136 jobs and generate $2.5 million in private investment, according to grantee estimates.
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.