U.S. Department of Commerce Invests $2.8 Million to Establish Business and Technology North Park in Weatherford, Oklahoma
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.8 million grant to the city of Weatherford and the Weatherford Industrial Trust, Weatherford, Oklahoma, to boost manufacturing, energy, industrial, and commercial development by establishing the Weatherford Business and Technology North Park. The EDA grant, to be matched with $716,250 in local investment, is expected to create 300 jobs.
“The Trump Administration is committed to not only retaining jobs in this country, but also to creating new opportunities for Americans,” said Secretary of Commerce Wilbur Ross. “The Weatherford Business and Technology North Park will provide manufacturing, energy, industrial, and commercial industries with the space they need to expand or locate in Weatherford, making the region’s economy stronger and more resilient.”
“This project is critical to addressing the lack of developed industrial land available for purchase and private investment in Weatherford,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “The new Weatherford Business and Technology North Park will improve economic resilience and support long-term recovery efforts from natural disasters by providing opportunities for more business to invest and locate in the region.”
“The $2.8 million grant awarded to Weatherford, Okla., by the EDA will help immensely as the city develops the Weatherford Business and Technology North Park,” said Senator Jim Inhofe. “Not only this, but with the Trump Administration’s funding also comes significant local funding for the project. I look forward to seeing the economic growth and jobs that will come to the Weatherford community with the completion of this important development project.”
“I’m thrilled the City of Weatherford is receiving this $2.8 million grant to fund the creation of the Weatherford Business and Technology North Park,” said Congressman Frank Lucas (OK-03). “At a time when job creation and economic growth are vital to our district’s local communities, the Commerce Department’s announcement is expected to create 300 jobs, substantially benefit our communities businesses, and further fuel the economic engine of Weatherford and Custer County. I thank the U.S. Department of Commerce and the Economic Development Administration for helping create more jobs and opportunities for my fellow Oklahomans.”
This project is funded by the Additional Supplemental Appropriations for Disaster Relief Act of 2019 (Pub. L. 116-20) (PDF), which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) Program funds for disaster relief and recovery for areas affected by Hurricanes Florence, Michael, and Lane, Typhoons Yutu and Mangkhut, wildfires, volcanic eruptions, and other major natural disasters occurring in calendar year 2018, and tornadoes and floods occurring in calendar year 2019, under the Robert T. Stafford Act. Please visit EDA’s Disaster Supplemental webpage for more information.
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.