U.S. EDA Invests $1.7 Million to Develop Business Park in Illinois
September 19, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Rebecca Blank today announced a $1.7 million in Economic Development Administration (EDA) grants in the State of Illinois to boost business development and job growth.
"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 investments will attract new businesses to the region".
The investments announced today include:
- $1,498,618 million to the city of Rock Island to provide infrastructure to support development of a sustainable business park will add economic diversity and reduce the region's dependence on the Rock Island Arsenal. The park will be marketed to businesses interested in sustainability to become part of the emerging green industry sector. Private sector investment will come as companies locate and build sustainable buildings that enhance and protect the environment. The project is expected to create approximately 92 jobs and generate $12 million in private investment.
- $150,000 to the Rockford Area Economic Development Council of Rockford to help develop a strategic diversification plan that will work to attract new companies to the area while empowering existing local companies to quickly emerge with new products or evolve into entirely different product sectors altogether.
- $98,000 to the Center for Neighborhood Technology and the South Suburban Mayors and Managers Association of Chicago and East Hazel Crest to develop a master plan to analyze growth opportunities in the Logistic Cluster and to provide a framework of restoring the logistic opportunities in Chicago Southland. This will foster regional environment that will encourage regional collaboration, private investment, job creation, and economic diversification opportunities.
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.