U.S. Commerce Department Announces $3 Million to Support Critical Business Expansion in Palm Bay, Florida
November 14, 2011
Contact: John Atwood, (202) 482-4085
WASHINGTON - U.S. Commerce Secretary John Bryson today announced a $2.8 million Economic Development Administration (EDA) grant to the city of Palm Bay, Fla., to make critical roadway infrastructure improvements needed to help a major local employer expand its operations. The project is expected to create 180 jobs and generate $100 million in private investment, according to grantee estimates.
"The Obama administration is committed to helping stimulate job growth and business development," Bryson said. "This grant will fund vital infrastructure in the community and help bring high-quality jobs and economic growth to Palm Bay."
Today, U.S. Assistant Secretary of Commerce for Economic Development John Fernandez traveled to Palm Bay, Florida for the announcement of a high tech engineering center on the campus of Harris, Corp., which will benefit from the realignment of the roadway.
The project will realign Troutman Boulevard to connect with the south end of Clearmont Street, allowing Harris Corporation to expand its local operations and create new jobs for area workers.
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 Florida, 410,000 firms would receive a payroll tax cut under the American Jobs Act, and a typical household in Florida, with a median income of around $46,000, would receive a tax cut of around $1,430.
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.