U.S. Department of Commerce Invests Nearly $4.6 Million to Help Grow Puerto Rico’s Aeronautical and Aerospace Cluster
Contact: EDA Public Affairs Department, (202) 482-4085
October 17, 2017
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding a $4.57 million grant to the Aeronautical and Aerospace Institute of Puerto Rico to help grow the commonwealth’s fledgling aeronautical and aerospace cluster by rehabilitating two buildings at the former Ramey Air Force Base for use by the Institute’s research arm. According to grantee estimates, the project is expected to create 542 new jobs and generate $5 million in private investment.
“I commend the efforts of local leaders who are working diligently toward a full recovery of the region,” said Secretary of Commerce Wilbur Ross. “The Trump Administration remains committed to the success of the Commonwealth of Puerto Rico and those who call it home.”
The investment will renovate the existing 10,000 square foot Building A and the 19,700 square foot Building B at the former base and will provide a parking lot to accommodate approximately 70 vehicles. Strategic partners and stakeholders in the project include the city of Aguadilla, the Federal Aviation Administration (FAA), the National Aeronautics and Space Administration (NASA), Lufthansa Technik Puerto Rico and Honeywell Aerospace.
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.