U.S. Department of Commerce Invests $712,000 to Make Critical Infrastructure Improvements Needed to Serve the Business Community in Monticello, Kentucky
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $712,000 grant to the city of Monticello, Kentucky, to construct sewer infrastructure needed to serve existing businesses and attract new businesses to the region. According to grantee estimates, the project is expected to retain 505 jobs and generate $9.5 million in private investment.
“Helping our communities implement their plans to provide the vial infrastructure that businesses need to be successful is a top priority for President Trump,” said U.S. Assistant Secretary of Commerce for Economic Development Dr. John Fleming. “This investment will help build sewer infrastructure needed to serve the existing manufacturing industry and will enhance Monticello’s ability to accommodate future growth.”
This project was made possible by the regional planning efforts led by the Lake Cumberland Area Development District. EDA funds the Lake Cumberland Area Development District 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 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.