U.S. EDA Invests $1.8 Million to Protect the Somerset County Businesses Community from Flooding
August 9, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Dr. Rebecca Blank today announced a $1.8 million Economic Development Administration (EDA) grant to the city of Somerset, Ky., to help alleviate the economic impacts of flooding on the city's business community by upgrading the wastewater collection system. The project is expected to create 330 jobs and generate more than $14 million in private investment, according to grantee estimates.
"The Obama administration is committed to providing communities with the resources they need to foster job creation and business growth," Blank said. "This grant will help protect local commerce and jobs in Somerset and prevent future flood damage to area businesses and the regional economy."
This EDA investment will make critical infrastructure improvements to mitigate the economic impacts of heavy rains and flooding, which reduce the flow capacity of the wastewater treatment system. The improvements will allow Hendrickson USA, a leading manufacturer and supplier of heavy-duty suspensions, axle systems, and springs to the commercial transportation industry, to expand its operations and will support other existing and future business needs.
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.