U.S. Department of Commerce Invests $1.5 Million in American Rescue Plan Funds to Support Development of Business Park in Andrews, Texas
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to Andrews Economic Development Corporation, Andrews, Texas, for critical infrastructure to support a new business park. This grant is funded by the American Rescue Plan.
This project will provide road and water infrastructure for the Northwest Business Park, supporting business development and growth. This EDA grant will be matched with $2.4 million in local funds and is expected to create 50 jobs and generate $62 million in private investment, according to grantee estimates.
“President Biden’s American Rescue Plan offers direct relief to American communities as they work to respond to and recover from the economic impact of the coronavirus pandemic,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will provide new space for businesses to grow in West Texas, supporting a robust, diverse regional economy.”
“The Economic Development Administration works closely with communities to support locally-driven economic development strategies to drive growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “The infrastructure improvements provided through this EDA investment will create new opportunities for businesses to locate and expand in Andrews, creating good-paying jobs in the community.”
“Road and water infrastructure is vital to the development of our communities, and I thank the Economic Development Administration for this grant supporting the Northwest Business Park in Andrews,” said Governor Greg Abbott. “This investment will create more jobs and greater economic opportunities for Texans in the Permian Basin for generations to come.”
This project is funded under EDA’s American Rescue Plan Economic Adjustment Assistance program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.