U.S. Department of Commerce Invests $1.2 Million in American Rescue Plan Funds to Support Business Expansion in Ladysmith, Wisconsin
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.2 million grant to the city of Ladysmith, Wisconsin, for road and water infrastructure upgrades needed to support business growth at the city’s industrial park. This grant is funded by the American Rescue Plan.
This grant will reconstruct roads within the city’s industrial park and build water infrastructure to ensure reliable water pressure for business tenants. The EDA investment will be matched with $293,277 in local funds and is expected to create or retain 100 jobs and generate $1 million in private investment, according to grantee estimates.
“President Biden’s American Rescue Plan offers direct relief to American communities as they work to build a better America for the future,” said Secretary of Commerce Gina Raimondo. “This EDA investment will provide the critical infrastructure Ladysmith needs to support the growth of local industries.”
“The Economic Development Administration is pleased to support locally-driven strategies to boost economic recovery efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA award to Ladysmith will pave the way for additional industrial growth, new job opportunities and long-term regional economic resiliency.”
“Over the last three years, we’ve been working to connect the dots between investing in our roads and infrastructure and bolstering economic development in our local communities,” said Governor Tony Evers. “I’m proud that we’ve improved more than 4,600 miles of local roads and highways while supporting businesses and investing in innovative solutions to workforce challenges, and I’m glad to see this $1.2 million federal grant going toward upgrading road and water infrastructure and spurring additional economic development in Ladysmith and the surrounding area.”
“I voted for the American Rescue Plan because it delivers support for our Made in Wisconsin economy and helps move our state forward,” said Senator Tammy Baldwin. “This federal investment from the Biden Administration will help improve road and water infrastructure in Ladysmith’s industrial park to spur economic development, create new jobs and strengthen the regional economy.”
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. Effective May 26, 2022, EDA has officially closed all of its American Rescue Plan programs for applications. The $3 billion program funding will be awarded on a rolling basis through September 30, 2022.
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.