U.S. Department of Commerce Invests $1.5 Million to Make Critical Roadway Improvements Needed to Boost Business and Job Growth in Monroe
Contact: EDA Public Affairs Department, (202) 482-4085
July 7, 2017
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Monroe, Louisiana, to enlarge Venable Lane from US Hwy 165 to the proposed entrance road to CenturyLink Village and provide an entrance from Venable Lane to CenturyLink Village at the IBM Building. According to grantee estimates, the project is expected to create 80 jobs, retain 94 jobs, and spur $20 million in private investment.
“The Trump Administration is committed to not only retaining jobs in this country, but also to creating new opportunities through infrastructure improvements,” said Secretary of Commerce Wilbur Ross. “I look forward to seeing how these roadway improvements will help businesses grow and thrive.”
The project will help to bolster economic development in a business district that is home to two major corporate buildings. The project will also help attract high paying jobs such as software developers, testers, and system analysts.
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.