Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.25 million grant to the Town of Pulaski, Virginia, to make wastewater infrastructure improvements needed to support growth of the region’s vital manufacturing sector. The EDA grant, to be located near a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $700,000 in state funds and $550,000 in local funds, and is expected to create 1,000 jobs and retain 70 jobs.
“Manufacturing is the heartbeat of many communities, and the Trump Administration is committed to helping American communities obtain the modern infrastructure they need to encourage manufacturing growth,” said Secretary of Commerce Wilbur Ross. “This project will provide Pulaski with the necessary infrastructure to attract and retain manufacturing companies.”
“EDA is proud to support local efforts to improve infrastructure in support of American manufacturing,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This project will address existing wastewater capacity infrastructure issues, and the project’s location near a Tax Cuts and Jobs Act Opportunity Zone will help to drive additional private investment to the area.”
“The assistance provided by the Economic Development Administration will upgrade Pulaski’s infrastructure, an important asset for manufacturing in the area,” said Congressman Morgan Griffith (VA-09). “A further asset can be found in the nearby Opportunity Zone created by the Tax Cuts and Jobs Act we passed in 2017. These measures will encourage the manufacturing that supports jobs and economic growth in our communities.”
The funding announced today will catalyze private investment in a nearby Opportunity Zone. Created by President Donald J. Trump’s Tax Cuts and Jobs Act of 2017, Opportunity Zones are spurring economic development in economically-distressed communities nationwide. In June 2019, EDA added Opportunity Zones as an Investment Priority, which increases the number of catalytic Opportunity Zone-related projects that EDA can fund to fuel greater public investment in these areas. To learn more about the Commerce Department’s work in Opportunity Zones, please visit EDA’s Opportunity Zones webpage. To learn more about the Opportunity Zone program, see the Opportunity Now resources webpage. To learn more about Opportunity Zone best practices, see the recently released White House Opportunity and Revitalization Council Report (PDF) to President Trump.
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.