U.S. Department of Commerce Invests $4.37 Million to Support Industrial Growth in Illinois
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding $4.37 million in grants to the State of Illinois to help support growth of the industrial sector. The projects are expected to generate more than $4 million in private investment according to grantee estimates.
“Modernizing infrastructure is one of the best routes to attracting and keeping businesses in a community,” said Secretary of Commerce Wilbur Ross. “These projects will support locally-led initiatives designed to grow Illinois’ economy and improve the business environment.”
The EDA investments announced today are:
- America’s Central Port of Granite City will receive $2.27 million to help attract new tenants and users to the property by building a new rail spur and by repairing and renovating two buildings for industrial use. The project is expected to result in $1.25 million in private investment according to the Port.
“Good news keeps rolling in for Granite City,” said Representative Mike Bost. “In addition to the 800 new steel jobs, this grant will amplify economic growth in Madison County and the Metro East region. America’s Central Port supports over 1,000 jobs and has a massive economic impact. Our community stands to benefit as the port continues to expand through both private investment and grants like this.”
- The City of Waukegan will receive $2.1 million to help make roadway and water infrastructure improvements needed to serve local businesses and to open a city-owned industrial property for further development. The project is expected to spur $3 million in private investment according to the city.
“Updating infrastructure is a critical investment in communities that both spurs economic growth and improves quality of life,” said U.S. Representative Brad Schneider. “I am pleased to congratulate Waukegan on their selection for this economic development grant to improve the city’s road and water infrastructure. This is a great step forward for the city, and I look forward to exploring additional ways to strengthen our community. My office is here to help all Tenth District communities and organizations navigate the federal grant application process, so please reach out if we can be of assistance.”
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.