U.S. Commerce Department Invests $1 Million to Revitalize Crossville, Tennessee Central Business District
September 14, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Dr. Rebecca Blank today announced a $1 million Economic Development Administration (EDA) grant to the city of Crossville, Tenn., to make critical infrastructure improvements needed to catalyze the redevelopment of the city's Central Business District. The project is expected to create 248 jobs and generate nearly $16 million in private investment, according to grantee estimates.
"Improving regional infrastructure in support of business growth is critical to our ability to create jobs and remain competitive," Blank said. "This EDA grant will strengthen the competitiveness of local industry clusters and foster business development and job growth by helping to revitalize the city's Central Business District."
Crossville's Central Business District currently supports 65 businesses and approximately 600 employees. The revitalized district is expected to attract new legal-based businesses to the downtown area and support the local hospital, which recently underwent an expansion of services to assist the region's growing retiree community. The project will result in 150,000 sq. ft. of additional office and retail space.
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.