$1 Million U.S. Commerce Department Investment Supports Aviation Sector in Brownsville, Texas
September 19, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Acting Secretary Rebecca Blank today announced a $1 million Economic Development Administration (EDA) grant to the city of Brownsville, Texas, to help build a new air cargo hangar at the Brownsville-South Padre Island International Airport. The project is expected to create 300 new jobs in the Brownville Foreign Trade Zone and generate $4 million in private sector investment, according to grantee estimates.
"We are pleased to partner with the people of Brownsville to stimulate the regional economy and encourage global investment opportunities," Blank said. "This project will provide international opportunities in the air transportation and logistics industry with Mexico and Latin America due to the city's unique location and comparative advantage it has as a port of entry into the U.S."
The EDA investment will allow for the construction of a new airport hanger that will be leased to aviation operators and serve as a global transportation and logistical center. The project is located in the Brownsville Foreign Trade Zone and will enhance global operations for Pan American Airlines in their transportation of cargo to and from Mexico and Latin America through this international airport. The new hanger will also spur commercial development and land use. Airport operators generate revenue from a variety of revenue producing leases from non-airline operations including manufacturing, warehousing, freight forwarding, and farming on airport land.
About the U.S. Economic Development Administration (www.eda.gov):
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.