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A bureau within the U.S. Department of Commerce


Press Release

U.S. Commerce Department Invests $3 Million to Support Business and Job Growth in Kentucky

WASHINGTON - Acting U.S. Commerce Secretary Rebecca Blank today announced more than $3 million in U.S. Economic Development Administration (EDA) grants in the State of Kentucky to boost business development and job growth. "The Commerce Department and the Obama administration are working diligently to bring jobs and economic growth to local communities," Blank said. "These EDA grants will make the vital infrastructure improvements needed to spur business development and job growth throughout Kentucky."The investments announced today include:

  • $2 million to the city of Vanceburg to make critical wastewater improvements that will help mitigate the challenges businesses face as a result of heavy rainfall and flooding.
  • $1.07 million to the city of Lawrenceburg to help build a new water storage tank that will serve the Lawrenceburg Industrial Park and other area businesses and ensure an adequate water supply during flood events. This investment will create 20 jobs and attract $50 million in private investment, according to grantee estimates.
  • Putting Americans back to work is President Obama's top priority. His American Jobs Act would put more money in the pockets of American families and do so without adding a dime to the deficit. In Kentucky, 70,000 firms would receive a payroll tax cut under the American Jobs Act, and a typical household in Kentucky, with a median income of around $43,000, would receive a tax cut of around $1,330.
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.