U.S. Department of Commerce Invests $228,000 to Help Develop Study on Impact of Oil and Gas Development in Eastern Montana
Contact: Public Affairs Department, (202) 482-4085
Thursday, September 20, 2012
WASHINGTON - The U.S. Department of Commerce's Economic Development Administration (EDA) today announced a $228,000 grant to four Montana economic development organizations-the Great Northern Development Corp., Eastern Plains Economic Development Corp., Southeastern Montana Development Corp., and the Greater Richland County Economic Development Corp.-to help develop a study on the impact of oil and gas development in the Bakken Formation, which covers 16 counties of eastern Montana.
"The Obama administration is committed to supporting the development of our nation's abundant energy resources," said Acting Assistant Secretary of Commerce for Economic Development Matt Erskine. "The study will help communities in eastern Montana better harness the potential of oil and gas resources by making plans that will determine their future growth and provide for suitable infrastructure to utilize them."
The study funded by EDA will examine the impacts of oil and gas development on the 16 counties covered by the Eastern Montana Impact Coalition. The study will identify current resources and assess future needs for housing, retail, workforce training, public services, and infrastructure upgrades. The study will also identify funding opportunities and options for leveraging public- and private-sector resources to address the challenges of growth in the region.
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.