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May 2019

Spotlight: EDA Invests in Infrastructure to Boost Manufacturing and Entrepreneurship Activity in New Jersey Opportunity Zone

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Assistant Secretary John Fleming at the grant announcement in Kearny, New Jersey May 16

On May 16, Assistant Secretary John Fleming announced that EDA is investing $3 million to upgrade and improve infrastructure in the Town of Kearney, New Jersey. The project is expected to help create more than 7,000 jobs, generate $1 billion in private investment and be matched by $1.3 million in local funds.

“The Trump Administration is proud to award its first Opportunity Zone grant in New Jersey, utilizing this valuable tool which was created as part of President Trump’s Tax Cuts and Jobs Act to better serve America’s economically distressed areas,” said Secretary Ross. “The added investment incentive provided by the Opportunity Zone program, coupled with the Commerce Department grant, will attract new business to Kearny’s new manufacturing, office, and entrepreneur space, and generate economic opportunity throughout the region.”

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Success Story: Transformation of Former Texas Air Force Base Now Has Local Economy Soaring

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Brooks in 2018 with commercial development blossoming

Brooks City-Base, located on San Antonio’s Southside just 10 minutes from downtown, has rapidly transformed from a former Air Force Base to a principal economic development entity.

An up-and-coming community attracting tourists, residents, and a host of new businesses, Brooks is home to a major medical school, Mission Trail Baptist Hospital, market rate apartments, light manufacturing plants such as Nissei Plastic Machinery America, DPT Labs and Mission Solar, and a full-service Embassy Suites Hotel & Spa – the only one of its kind south of downtown.

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Highlight: Indiana’s Beaver Lake Dam Renovation and Improvement After 2008 Flooding Bolsters Positive Economic Impacts

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New construction of Beaver Lake Dam

In 2008, a major flood in Dubois County, Indiana, led to a federal disaster declaration. The flooding left portions of several local roads under water and made them impassible for several weeks. This substantially impacted the regional economy, affecting local employers and employees that relied on these public roads.

The City of Jasper, Indiana, needed to substantially renovate and improve the Beaver Lake Dam to prevent adverse economic impacts from future flooding. The dam did not meet safety standards set by the Indiana Department of Natural Resources at the time of the flooding.

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Reminder: Fiscal Year 2018 Disaster Supplemental Funding Still Available

EDA has $587 million available for disaster recovery grants in communities experiencing economic distress or other economic harm resulting from Hurricanes Harvey, Irma, and Maria and wildfires and other federally declared natural disasters occurring in calendar year 2017. Please visit EDA’s Disaster Supplemental Funding page for more.


11th America’s Competitiveness Exchange on Innovation and Entrepreneurship (ACE)

The 11th America’s Competitiveness Exchange on Innovation and Entrepreneurship (ACE) visited Puerto Rico May 18-25 where participants toured and heard about local assets and shared best practices. Read Dr. John Fleming’s remarks on the event’s advancements in commerce and trade.


Philly Navy Yard Attracting Innovative Businesses

Assistant Secretary Fleming and DAS for Regional Affairs Alvord visited the Philadelphia Navy Yard on May 15, where they were briefed by PIDC Philadelphia on the incredible commercial assets of the converted former military facility. EDA is proud to support such a transformative vision!


Homegrown Tools Webinar

On May 8, leaders from EDA University Center, the Kenan Center for Private Enterprise at the University of North Carolina at Chapel Hill (NCGrowth) hosted a webinar with EDA to showcase their Homegrown Tools platform (recording). Participants learned how to access and use the tool, including how to search by strategy type, geography, and case study; why this matters and how it can be used; and ways further case studies can be added to the tool to expand the repertoire of examples for those working in economic development.


EDA in the News!

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How success of Kearny Point project was key to $3M infrastructure grant for Kearny
ROI-NJ.com (5/17/19)

$67 Million in Federal Funding On the Way for Hawaii Disasters
Big Island Video News (5/14/19)

Federal government investing $2.7M to open business incubator in North Charleston
Charleston Post Courier (5/9/19)

EDAWN Announces Participating Startups for Reno Venture Conference
ThisisReno (5/1/19)

Tallassee gets $2.4 million grant for sewer overhaul
Tallahassee Tribune (5/1/19)

Multi-million dollar business incubator could boost Blue Lake Rancheria jobs
Redwood Times (5/1/19)

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