U.S. Department of Commerce Invests $5.3 Million to Support Business Development and Industrial Growth in South Dakota
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $5.3 million in the state of South Dakota to make critical infrastructure improvements needed to support current and future business needs.
The EDA investments announced today are:
- The city of Madison will receive a $3.6 million EDA grant for infrastructure improvements to support business expansion at the Lakeview Industrial Park. The project, to be matched with $898,380 in local funds, is expected to create 100 jobs and generate $10 million in private investment, according to grantee estimates.
- The city of Hartford will receive a $1.7 million EDA grant for critical water and infrastructure improvements to support industrial development and business growth. The project, to be matched with $413,289 in local funds, is expected to create 32 jobs and generate $1.5 million in private investment, according to grantee estimates.
“Bolstering infrastructure and industrial capacity are critical parts of President Biden’s Investing in America agenda,” said Secretary of Commerce Gina Raimondo. “These EDA investments will allow the cities of Madison and Hartford to construct the sustainable infrastructure they need to support businesses and create good-paying jobs in their communities.”
“The Economic Development Administration plays an important role in supporting locally-developed strategies designed to create economic opportunity,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is pleased to assist Madison and Hartford in their efforts to support business and industrial growth to expand and create a resilient regional 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.