$1.9 Million U.S. Commerce Department Investment Supports Growth of Titanium Manufacturing Industry in Illinois
September 26, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - Acting U.S. Commerce Secretary Rebecca Blank today announced a $1.9 million Economic Development Administration (EDA) grant to the City of Ottawa, Ill., to make infrastructure improvements that will support the expansion of the Ottawa Industrial Park. Infrastructure upgrades will enable titanium manufacturer International Titanium Powder, a current tenant in the Park, to increase its operations. The investment is expected to create 182 jobs and generate $106 million in private investment, according to grantee estimates.
"The Commerce Department and the Obama administration are working diligently to bring jobs and economic growth to local communities," Blank said. "This grant will support existing businesses and help attract new businesses and jobs to the region by providing critical infrastructure improvements needed in Ottawa."
The EDA-funded project will provide additional office space for Ottawa businesses and help to attract new businesses to the region. The growth of International Titanium Powder is also expected to bring new, complementary industries to Ottawa.
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.