U.S. Department of Commerce Invests $2.4 Million in Oklahoma to Rebuild Infrastructure and Boost Economic and Job Growth
Contact: Public Affairs Department, (202) 482-4085
Wednesday, September 5, 2012
WASHINGTON - Acting U.S. Commerce Secretary Rebecca Blank today announced $2.4 million in Economic Development Administration (EDA) grants to the state of Oklahoma to help spur business and job growth by improving Durant's water system, rebuilding critical business infrastructure in Sapulpa that was damaged by severe winter snowstorms in 2011, and providing support to entrepreneurs in Tulsa.
"These $2.4 million in EDA investments in Oklahoma are examples of the Obama administration's commitment to strengthening our nation's infrastructure and helping communities recover from disasters," said Acting U.S. Commerce Secretary Blank. "The grants announced today will help Durant, Sapulpa and Tulsa, Oklahoma, rebuild critical business infrastructure and support regional job creation."
The investments announced today include:
- In Durant, an EDA grant of $950,000 million will fund expansion of the city's water supply and fire protection systems. These infrastructure improvements will help attract new businesses to the region and facilitate the growth of existing businesses. According to grantee estimates, the upgrades will help retain six jobs, create 180 new jobs, and generate $17.6 million in private investment.
- In Sapulpa, an EDA grant of $1.5 million will help fund infrastructure improvements and repairs to a 300-acre industrial park that was damaged by a severe snowstorm in 2011. The improvements will create 85 new jobs and leverage $20 million in private investment, according to grantee estimates, with a long-term potential of creating an additional 800 new jobs.
- In Tulsa, an EDA grant of $393,756 to i2E Inc. will help fund new and enhanced services for Tulsa-area entrepreneurs. This will include expansion of the SeedStep Angel Group and the 12E Fellows Program, a 12- to 15-week Business Development Immersion Program.
The Sapulpa project is part of a $200 million appropriation made by Congress to EDA to help communities that received a major disaster designation in fiscal year 2011 with long-term economic recovery and infrastructure support. As part of the administration's National Disaster Recovery Framework (NDRF), EDA serves as the Coordinating Agency on behalf of the Department of Commerce for the Economic Recovery Support Function (RSF) to coordinate the activities of a diverse group of partner agencies supporting recovery in disaster-impacted communities.
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.