Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the city of Las Vegas, Nevada, to support planning for the future redevelopment of Jackson Avenue as part of ongoing efforts to catalyze community-led investment in the city’s historic Westside.
This grant will assist local entrepreneurs in redeveloping the area while providing land development training to small- and minority-owned businesses. This EDA investment, to be matched with $327,870 in local funds, is expected to create 82 jobs and generate $36 million in private investment, according to grantee estimates.
“President Biden is committed to making sure all communities have the resources they need to diversify and boost their local economies,” said Secretary of Commerce Gina Raimondo. “This EDA investment will lay the groundwork to revitalize local commerce in Las Vegas, supporting the renewal of Jackson Avenue as a focal point of economic opportunity and growth.”
“The Economic Development Administration works hand-in-hand with local communities to support their bottom-up, middle-out economic development strategies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This strategic, place-based investment in Las Vegas will support job creation and economic resilience in historically underserved communities.”
“Our historic Westside community needs investments in its roadways, small businesses, and other vital infrastructure, and this funding will help make that happen,” said Senator Catherine Cortez Masto. “This development will be good for Southern Nevada’s economy. I will always advocate for efforts like this to continue revitalizing the Westside and help attract new businesses and economic opportunities to this important community.”
“The historic Westside is full of local history and culture,” said Senator Jacky Rosen. “I’m thrilled to see that more than a million dollars will come to Las Vegas to revitalize and diversify economic development on Jackson Avenue, which will bring new jobs and businesses.”
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.