U.S. Department of Commerce Invests Nearly $5 Million in Alabama to Support Manufacturing
Contact: EDA Public Affairs Department, (202) 482-4085
September 2, 2016
MOBILE, Ala. - U.S. Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine today announced that the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding $4.8 million in grants to the state of Alabama to support local manufacturing efforts. Announced during an event in Mobile with Atmore Mayor Jim Staff and Mobile Area Chamber of Commerce President & CEO Bill Sisson, the grants will facilitate the construction of a roadway project in Atmore and begin renovations to a building in Mobile for use as a business incubator.
“Manufacturing fuels the world’s most innovative economy and has helped build the American middle class,” said Deputy Assistant Secretary Erskine. “These EDA investments in Alabama will help to establish and grow manufacturing firms in the Mobile region, and bring a new aerospace manufacturing facility to Atmore.”
The EDA investments announced today are:
- The Mobile Area Chamber of Commerce will receive a $2.9 million grant to renovate and modernize the former Threaded Fasteners building to house Innovation PortAL, a business incubator that will support economic diversification in this designated manufacturing region. Innovation PortAL will provide access to intense mentoring services, investment capital, investing networks, and a highly educated and skilled workforce to support local entrepreneurs and businesses.
- The city of Atmore will receive a $1.9 million grant to construct an industrial access road that will serve a new aerospace manufacturing facility that will be located in the Rivercane Industrial Park development. This grant will support critical job creation and investment in Atmore, a city that has experienced recent job loss and worker displacement from the loss of two major employers. According to grantee estimates, this investment is expected to create 116 jobs and generate $114 million in private investment.
About the U.S. Economic Development Administration
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. To learn more about EDA, visit www.eda.gov.