U.S. EDA Invests $2.75 Million to Advance Business Development and Job Growth in Texas
August 9, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Dr. Rebecca Blank today announced $2.75 million in Economic Development Administration (EDA) grants to boost business development and job growth in Texas. The investments are expected to help create nearly 900 jobs and $1 billion in private investment, according to grantee estimates.
"Through our Economic Development Administration, we are able to provide funding to local communities to enhance job creation, economic growth and competitiveness," Blank said. "These EDA grants will make the vital infrastructure improvements needed to spur business development and job growth throughout Texas."
The investments announced today include:
- $750,000 to the city of Austin to help build the Asian American Resource Center, which will be built to LEED-NC silver certification in Northeast Austin. The Center will work with emerging entrepreneurs to seed new business ventures in Texas, across the United States and throughout Asia. The Center will also promote business investment in Austin and other Texas cities.
- $1 million to the city of Gregory to make vital water infrastructure improvements needed to serve the local business community, including the new Tianjin Pipe Company steel plant, which is expected to create more than 600 jobs and generate nearly $1 billion in private investment, according to company estimates.
- $1 million to the city of Eastland and Eastland Economic Development, Inc., to acquire land and build vital infrastructure that will support the development of a Renewable Energy Industrial Campus within the Eastland Business Park. The project is expected to create 295 jobs and generate $27.5 million in private investment, according to grantee estimates.
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.