U.S. Department of Commerce Invests $4 Million to Support Cargo Handling Upgrades at Port of Oswego, New York
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $4 million grant to the Port of Oswego in Oswego, New York. The port will be able to acquire new cargo handling equipment and support rail infrastructure improvements needed to increase export capacity and bolster access to global markets for local business.
This grant will support procurement of a radial telescopic shiploader conveyor, along with upgrades to railroad track at the port. This EDA investment will be matched with $1 million in local funds and is expected to create 19 jobs and generate $50,000 in private investment, according to grantee estimates.
“The Biden-Harris Administration’s Investing in America agenda is improving our infrastructure and strengthening American supply chain resilience,” said Secretary of Commerce Gina Raimondo. “This EDA investment will increase export capacity at the Port of Oswego to create new economic opportunity in the region.”
“The Economic Development Administration works hand-in-hand with local communities to support their bottom-up, middle-out economic development strategies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This strategic, place-based project will support regional business growth by expanding their reach to wider domestic and global markets.”
“The Port of Oswego is vital to New York’s economy, and it is essential that this economic engine has the necessary resources and equipment to continue serving the CNY community. With this $4 million in federal funding, the harbor will have increased export capacity, enhancing its ability to serve local farmers, food producers, and businesses who depend on the Port,” said Senator Charles Schumer. “The Port of Oswego can now go full steam ahead on purchasing new equipment and upgrading their site, leading to more jobs, better service to customers, and new business. I am proud to deliver the federal funding to help grow the Port’s operations in the region, ease our supply chain issues, and upgrading the Port’s infrastructure to keep their presence strong in Central New York for generations to come.”
“The Port of Oswego is a vital trade hub that links Central New York businesses with the rest of the world,” said Senator Kirsten Gillibrand. “This EDA investment will support critical infrastructure and equipment upgrades that will help the port expand its export capacity and greatly benefit the local economy.”
“This $4 million grant is a significant investment in our community that will not only enhance the port’s capabilities but also stimulate economic growth for our local businesses,” said Congresswoman Claudia Tenney (NY-24). “I was honored to have supported the effort and to have helped secure this needed funding for our region. This project will fund new cargo handling equipment and improved rail infrastructure, helping affordably bring our local agricultural and manufactured goods to global markets. I look forward to further assisting the Port of Oswego’s work to better serve our Upstate and Western New York economy.”
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.