U.S. Department of Commerce Invests $1.4 Million to Aid Redevelopment of Former Moran Municipal Generating Station
Contact: EDA Public Affairs Department, (202) 482-4085
September 28, 2016
WASHINGTON – U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding a $1.4 million grant to the city of Burlington, Vt., to help restore, redevelop, and enhance resiliency of the Moran Plant, a former Municipal Electric Generating Station and nationally recognized historic site.
“The Department of Commerce through our Economic Development Administration is pleased to partner with the city of Burlington to enable redevelopment of the Moran Plant so that it can be used year-round for publically supported commercial endeavors,” said Secretary Pritzker. “This EDA investment will facilitate conversion of this city-owned asset to leverage additional private investment that can spur new business opportunities and jobs.”
U.S. Senator Patrick Leahy, who collaborated with Burlington officials to identify federal funding for multiple city priorities like this, said “Burlington’s waterfront is one of Vermont’s grandest jewels. Reclaiming this space from its industrial past for all Vermonters to enjoy has been a goal I have worked on for many years. As the city and its potential partners develop final plans for the former Moran Plant, this grant is a catalyst and a good faith step toward making those plans a reality. If the city in the end decides that this project is not feasible, it will go forward knowing that every opportunity and resource was considered.”
Development of the Moran Plant is an inherently local priority that aligns with the waterfront’s Public Trust Doctrine and is recognized within Burlington’s Public Investment Action Plan (PIAP) and the regional Chittenden County Environment, Community, Opportunity, Sustainability (ECOS) plan, which combines the County’s Regional Plan, the Metropolitan Transportation Plan and the Comprehensive Economic Development Strategy into one integrated plan and set of actions.
EDA supported construction will aid in flood resiliency (as a result of FEMA D.R 4232) and maximization of interior space through site grading, demolition of select interior building components and interior waterproofing of the basement and first floor. Following completion of the entire facility, envisioned to be “net-zero” in energy use, the Moran Plant’s developers estimate that the facility will yield a $10.8 million in long-term economic impact and facilitate the creation of up to 133 new jobs over nine years.
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.