U.S. Department of Commerce Invests $1.2 Million to Upgrade Critical Infrastructure to Support Manufacturing and Foreign-Direct Investment in Texas
Contact: Public Affairs Department, (202) 482-4085
Monday, July 28, 2014
Monday, July 28, 2014
WASHINGTON – U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding $1.2 million to Bay City, Texas. The investment will support roadway and sewer infrastructure improvements critical to the establishment of a new manufacturing facility. According to grantee estimates, the EDA grant will create 600 jobs and generate $1.2 billion in private investment once the facility is operational in 2016.
“The Obama administration and Commerce Department are committed to strengthening our manufacturing sector, which supports good-paying American jobs and strengthens our global competitiveness,” said Secretary Pritzker. “The EDA investment announced today will support infrastructure improvements needed for the creation of a new manufacturing facility, which will position Texas’ Gulf Coast region to attract foreign investment and strengthen the local economy.”
Traditionally, the Bay City area has relied on agribusiness to support the economy. According to the grantee, recent efforts to diversify the economy have been successful and resulted in a foreign-owned company looking to locate its first U.S. seamless steel pipe mill manufacturing facility. The EDA infrastructure investment will help facilitate this foreign-direct investment by providing roadway and sewer improvements along TX Hwy 35 that will accommodate access to the plant site.
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.