$2.9 Million U.S. Commerce Department Investments Supports Business Expansions in Tennessee
September 19, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Dr. Rebecca Blank today announced $2.9 million in Economic Development Administration (EDA) grants in the State of Tennessee to make infrastructure improvements critical to attracting major employers.
"The Commerce Department and the Obama administration are working diligently to bring jobs and economic growth to local communities," Blank said. "These EDA investments will make vital infrastructure improvements needed to accommodate a new Amazon distribution facility and fulfillment center in Chattanooga and aid the expansion of international industries in Washington County Industrial Park in Jonesborough."
This investment announced today includes:
- $1.9 million to the city of Chattanooga to upgrade and expand critical wastewater infrastructure to serve the Enterprise South Industrial Park in Hamilton County and accommodate the needs of Amazon's new distribution facility. These expansions will result in the creation of 2,400 new jobs and $90 million in private investment. Amazon is a multinational electronic commerce company that has become the largest online retailer in the United States, with revenues over $34 billion in 2010. Amazon's commitment to construct the new distribution/fulfillment center requires adequate sewer infrastructure to accommodate its needs.
- $1 million to the Town of Jonesborough to upgrade the wastewater treatment system to provide efficient service to expanding international industries located at the Washington County Industrial Park: Alo Tennessee, the world's leading manufacturer of front end loaders; Naketetsu, manufacturer of taper roller bearings for the US automotive market; and Koyo Corporation, a Tier 1 and Tier 2 supplier to Toyota, Honda, Ford, GM, Chrysler, and BMW, plan expansions that will create 180 new jobs and more than $67 million in private investment, according to grantee estimates.
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.