U.S. Department of Commerce Invests $5.5 Million for Economic Recovery Following Natural Disasters in Three States
Contact: Cleve Mesidor, (202) 482-4085
December 21, 2012
WASHINGTON - Acting U.S. Commerce Secretary Rebecca Blank today announced $5.5 million in Economic Development Administration (EDA) grants to strengthen economies in New York, North Dakota, and South Dakota, following natural disasters in 2011.
"The Obama administration is committed to helping communities impacted by natural disasters rebound and rebuild," said Acting U.S. Commerce Secretary Rebecca Blank. "The $5.5 million in EDA investments announced today will support local economies in New York, North Dakota, and South Dakota, rebuild critical infrastructure and expand access to capital for small businesses."
The investments announced today include:
- In New York, a $1.1 million EDA co-investment in the city of Kingston will help repair sinkhole and sewer tunnel damage along Washington Avenue that resulted from flooding associated with Hurricane Irene and Tropical Storm Lee. The repair work will restore productivity by reverting traffic flows through the city for commercial and transit vehicles back to streets designed for such purposes.
- In the Lake Champlain/Lake George region, an $800,000 EDA co-investment in the Lake Champlain/Lake George Regional Planning Board will capitalize a revolving loan fund that will provide critical capital to support small businesses adversely impacted by record rainfall and flooding resulting from Hurricane Irene.
- In North Dakota, a $1.6 million EDA co-investment in the city of Minot will help to build sewer line and road intersection improvements needed to prepare an undeveloped area for commercial and retail use in the North Hill section of the city.
- In South Dakota, a $2 million EDA co-investment in the city of Yankton will help build a new sewage lift station to serve the southeast corridor and upgrade the sewage treatment plant to protect businesses from future storm-related disasters.
These projects are 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.
Within the context of the administration's National Disaster Recovery Framework (NDRF) (PDF), 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. The activities consist primarily of improved information sharing and the leveraging of existing resources to make a positive impact for communities affected by disasters.
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.