Commerce Department Investment Advances Cooper Tire Expansion in Texarkana
June 25, 2010
Contact: John Atwood, (202) 482-4085
Expansion will help the region recover from recent natural disasters
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1 million Economic Development Administration (EDA) grant to the city of Texarkana, Ark., to improve the industrial access road serving the expanding Cooper Tire facility. The project is expected to create 200 jobs, save 1,400 jobs, and generate $18 million in private investment, according to grantee estimates.
"The Obama Administration is committed to creating jobs and supporting local economic development," Locke said. "This EDA grant will help boost the region's global competitiveness and create new jobs by providing the essential public infrastructure to support the expansion of one of the largest employers in southwest Arkansas.
Improvement components include earthwork and the widening, strengthening, reconstructing, and paving of entrance roads into the Cooper Tire plant. The proposed improvements are to Cooper Tire Road, the Cooper Tire Road/Washington Street intersection and related infrastructure.
About the U.S. Economic Development Administration (www.eda.gov):
This year, the U.S. Economic Development Administration (EDA) marks 45 years of public service, with a mission of leading the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy. EDA is an agency within the U.S. Department of Commerce that partners with distressed communities throughout the United States to foster job creation, collaboration and innovation.