U.S. EDA Investment to Help Expand Commercial Development in Gates County, North Carolina
May 4, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $900,000 grant to Gates County, N.C., to help rehabilitate and expand wastewater treatment facilities to serve a new commercial development located on U.S. Highway 158 East. The investment is expected to create 93 jobs and generate $8.35 million in private investment, according to grantee estimates.
"This EDA grant will provide the critical infrastructure needed to boost Grant County's competitiveness by attracting new commercial interests to the region and by providing space for existing businesses to expand their operations," said U.S. Assistant Secretary of Commerce for Economic Development John Fernandez. "The increased commercial development will help the region retain its highly skilled, manufacturing workforce and increase the tax base."
"As an active participant with North Carolina's Northeast Commission, a sixteen-county economic development consortium, we are confident the Gates County project will enhance the region's competitive position as it seeks to grow and diversify our local economies," said Graham Twine, Chairman, Gates County Board of Commissioners.
Sewer service is not currently available in Gates County. The lack of this basic infrastructure places Gates County at a disadvantage for any development. The initial development associated with the proposed project is just the beginning of a real economic development phase for Gates County and will act as a catalyst for future development.
About the U.S. Economic Development Administration:
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth.