U.S. Commerce Department Announces $1.5 Million Investment to Support Business Expansion and Job Growth in Missouri
Contact: Public Affairs Department, (202) 482-4085
Thursday, July 25, 2013
WASHINGTON — U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) will award a $1.5 million grant to support construction of new roadway necessary for the expansion of an industrial park in Perryville, Missouri. The project is expected to create 215 new high-wage jobs over the next three years and generate nearly $27 million in additional small-business revenue, according to grantee estimates.
“This $1.5 million investment is an example of the Obama administration’s commitment to investing in critical infrastructure that is necessary for business growth, job creation and our nation’s competitiveness,” said Secretary Pritzker. “By supporting the construction of this new road, the Department of Commerce’s Economic Development Administration is helping make Perryville, Missouri, a better place to do business.”
The EDA grant to the city of Perryville, Perry County, and the Missouri Department of Transportation will support land acquisition, grading, and construction of approximately two miles of new roadway at the Perryville Industrial Park, including storm drainage and erosion control infrastructure. The project will allow for the planned expansion of two businesses already located in the industrial park, bringing new high-wage jobs and private investment to the region and enhancing the park’s ability to accommodate more business tenants in the future.
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.