Commerce Department Invests $6 Million to Provide Davenport, Iowa Businesses with Flood-Proof Transportation
August 31, 2010
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $6.7 million U.S. Economic Development Administration (EDA) grant to the city of Davenport, Iowa, and the Greater Davenport Redevelopment Commission to help build a transload facility, which handles the movement of goods between rail and truck, for businesses utilizing the Interstate 80 Airport Industrial Park. The project is expected to create 1,500 jobs and generate $45 million in private investment, according to grantee estimates.
"This grant will help protect local commerce and jobs in Davenport and prevent future damage to area businesses from flooding by providing critical access to rail service uninterrupted by future floods for new firms locating in the industrial park," Locke said.
In addition to the transload facility, this project will build all necessary utilities including road, rail, water and sewer at the 114-acre Interstate 80 Airport Industrial Park, which is expected to attract new employers to the area.
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.