U.S. Department of Commerce Invests $2.3 Million in American Rescue Plan Funds for Utilities Upgrades to Support Business Growth in Saint Paul, Alaska
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.3 million grant to city of Saint Paul, Alaska, to make utilities upgrades needed to boost business and job growth in the region. This grant is funded by the American Rescue Plan.
This grant will support extension and upgrade of water, electrical and sewage infrastructure at Saint Paul’s small boat harbor, increasing the capacity for commercial development at the site. The EDA investment will be matched with $567,600 in local funds, and is expected to create 41 jobs, retain 214 jobs, and generate $3.9 million in private investment, according to grantee estimates.
“President Biden is committed to supporting local efforts to create new opportunity and jobs in communities across the United States,” said Secretary of Commerce Gina Raimondo. “This investment will provide the infrastructure that Saint Paul needs to attract new businesses that can diversify and grow the regional economy.”
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will allow Saint Paul to further realize the economic potential of the small boat harbor, an important municipal asset.”
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.