U.S. Department of Commerce Invests $5.3 Million to Support Tech-based Business Growth in Grenada, Mississippi
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $5.3 million grant to the Grenada County Board of Supervisors, Grenada, Mississippi, to bolster the region’s technology sector by improving access to Grenada Technology Park North.
This EDA project will construct a four-lane access road into Grenada Technology Park North to accommodate existing business needs while helping attract new businesses to the park. This EDA grant will be matched with $2.6 million in local funds and is expected to create 800 jobs, retain 1,100 jobs, and generate $60 million in private investment, according to grantee estimates.
“President Biden is committed to ensuring that our communities are provided with the resources they need to diversify and grow their economies,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will make the roadway access improvements needed to retain and grow existing businesses and serve future business needs.”
“The Economic Development Administration is pleased to support Grenada as they work to grow their region’s economy,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will provide enhanced access to the local technology park, giving existing businesses the infrastructure capacity they need to grow and thrive.”
“I was glad to support Grenada’s application for this investment from the Economic Development Administration,” said Senator Roger Wicker. “The start of this project represents a huge step forward for Grenada by increasing access to the technology park and promoting further development of the city.”
“The leadership and people of Grenada County deserve credit for staying focused on infrastructure that will bring more jobs and growth to this area. This latest EDA investment, along with local and state input, will reap benefits as the technology park becomes a base for more companies,” said Senator Cindy Hyde-Smith. “I look forward to continuing to work with Grenada County, the North Central Planning and Development District, and the Commerce Department for the betterment of this region and all Mississippi.”
“I am pleased to support the work that Economic Development Administration is completing for Grenada,” said Congressman Bennie G. Thompson (MS-02). “The EDA project will help roadway access to attract new businesses to the park. The work that EDA is achieving is amazing and phenomenal. This investment will give the businesses the growth that is needed.”
This project was made possible by the regional planning efforts led by the North Central Planning and Development District (NCPDD). EDA funds NCPDD 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 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.