U.S. Department of Commerce Invests $2 Million to Make Building Improvements Needed to Boost Business Growth in Woodward, Oklahoma
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Woodward, Oklahoma, to make building renovations at the Woodward Industrial Airpark to attract and support businesses following devastating fires in 2018. The EDA grant will be matched with more than $1.2 million in local investment.
“The Trump Administration understands that reliable and modern facilities are essential to business development and success,” said Secretary of Commerce Wilbur Ross. “This project will provide necessary building improvements to spur business growth at Woodward’s Industrial AirPark to make the region’s economy more resilient in the face of future natural disasters.”
“The Economic Development Administration is pleased to support Woodward’s strategy to maximize use of its Industrial AirPark,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This project will open a 124,000 square foot industrial facility within the AirPark to new and expanding companies, creating economic opportunities for Woodward and mitigating regional impacts of the 2018 wildfires.”
“This $2 million EDA grant awarded to the city of Woodward is welcome news,” said Senator Jim Inhofe. “This funding will allow for needed building renovations at the Woodward Industrial Airpark. We know that airports are economic hubs for communities, and this investment will spur economic activity and job growth in the area. I am proud this federal investment is being met with $1.2 million in local investment.”
“The Economic Development Administration plays an important role in supporting locally-driven strategies that strengthen regional economies, create job growth, and increase business development throughout our local communities,” said Congressman Frank Lucas (OK-03). “I thank Secretary Wilbur Ross and the EDA for their $2 million investment to help support Woodward’s businesses following the 2018 fires. Western Oklahoma is no stranger to fires and other natural disasters, and today’s investment will help Woodward’s businesses expand and continue to rebuild.”
This project is funded by the Additional Supplemental Appropriations for Disaster Relief Act of 2019 (Pub. L. 116-20) (PDF), which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) Program funds for disaster relief and recovery for areas affected by Hurricanes Florence, Michael, and Lane, Typhoons Yutu and Mangkhut, wildfires, volcanic eruptions, and other major natural disasters occurring in calendar year 2018, and tornadoes and floods occurring in calendar year 2019, under the Robert T. Stafford Act. Please visit EDA’s Disaster Supplemental webpage for more information.
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.