U.S. Economic Development Administration Invests $4.1 Million to Support Business Growth and Job Creation in North Carolina
Contact: Public Affairs Department, (202) 482-4085
Monday, July 1, 2013
WASHINGTON — The U.S. Commerce Department’s Economic Development Administration (EDA) today announced $4.1 million in grants to support business development and job growth in North Carolina. The projects are expected to create 810 new jobs, and attract $172 million in private investment, according to grantee estimates.
“The Obama administration is committed to helping spur job growth in communities nationwide,” said U.S. Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine. “The EDA investments announced today will provide North Carolina with critical transportation infrastructure, expanded business incubation services, and job training programs that will support the state’s future economic growth.”
The investments announced today include:
- A $1.2 million grant to Winston-Salem State University and the S.G. Atkins Community Development Corporation to renovate the lower level of the Enterprise Center building to expand an existing business incubation program. The project is expected to create 300 new jobs over the next three years and generate nearly $12 million in additional small business revenue, according to grantee estimates.
- A $1.5 million grant to Gaston College to construct a new Center for Advanced Manufacturing building and renovate the Pharr Trade and Industrial Building on the college’s main campus, providing job training programs focused on the area’s clean energy, sustainable manufacturing, and other high-growth industries. The project is expected to help create 160 new jobs and spur $50 million in private investment, according to grantee estimates.
- A $1.4 million grant to Halifax County to construct a rail extension that will provide a critical transportation link for a new lumber processing facility and mill in the town of Enfield that will produce quality lumber and structural timber for export. The proposed improvements are expected to result in the creation of 350 new full time jobs and the generation of $110 million in private investment, according to the grantee.
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.