U.S. Department of Commerce Invests $2.8 Million to Boost Businesses and Grow Jobs in Missouri
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $2.8 million in the state of Missouri to make critical infrastructure improvements needed to support current and future business needs.
The EDA investments announced today are:
- The city of Moberly will receive a $1.5 million EDA grant for roadway infrastructure improvements needed to support an industrial park and promote local business growth. The project, to be matched with $1.6 million in local funds, is expected to retain 120 jobs, according to grantee estimates.
- The city of Washington will receive a $1.3 million EDA grant for critical infrastructure improvements to support a new industrial park and business growth. The project, to be matched with $1.3 million in local funds, is expected to create 88 jobs and generate $110 million in private investment, according to grantee estimates.
“President Biden’s Investing in America agenda is making sure communities in Missouri and across the country have the infrastructure and resources needed to diversify and grow their economies,” said Secretary of Commerce Gina Raimondo. “These EDA investments will allow the cities of Washington and Moberly to make infrastructure improvements to create jobs and attract new businesses to the regions.”
“The Economic Development Administration works closely with local communities to develop place-based economic development to boost local economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is pleased to assist Washington and Moberly in their work to provide the infrastructure that their businesses need to grow and thrive.”
“Developing the industrial park in Moberly will greatly benefit business expansion efforts. Adequate road infrastructure is always a challenge to these developments, and this grant will go a long way towards alleviating that challenge. Congratulations to the City of Moberly, the Moberly Area Economic Development Council, and the Mark Twain Regional Council of Governments on securing this funding,” said Congressman Sam Graves (MO-06).
The city of Moberly project was made possible by the regional planning efforts led by the Mark Twain Regional Council of Governments (MTRCOG). EDA funds MTRCOG to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
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.