Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Granbury, Texas’ Economic Development Department for infrastructure improvements at Granbury Regional Airport to support business development in the region.
This grant will provide airport access to larger aircraft, attracting additional businesses to the community. This EDA investment will be matched with $405,000 in local funds and is expected to create 80 jobs and generate $43 million in private investment, according to grantee estimates.
“Thanks to President Biden’s commitment to investing in America, this EDA funding will help grow and modernize the Granbury Regional Airport, spurring job creation, attracting new businesses, and creating a more resilient regional economy,” said Secretary of Commerce Gina Raimondo.
“The Economic Development Administration works closely with local communities to support place-based economic development,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project in the city of Granbury will improve the airport’s infrastructure to expand the airport’s usage, supporting a strong, diverse economy.”
“With the Best Business Climate in the nation, Texas continues to attract leading businesses from across the world,” said Governor Greg Abbott. “I thank the Economic Development Administration for this grant to help the city of Granbury make critical infrastructure improvements to its airport, bolster private investment, and create good-paying jobs, so that local businesses and the hardworking Texans they support continue to thrive in our booming economy. This investment in North Texas will encourage even more economic growth as we continue to build a bigger, better Texas.”
“Access to robust and efficient airport infrastructure is critical for the continued economic development in Hood County,” said Senator John Cornyn. “I applaud this announcement and look forward to seeing the positive impact these investments will have for business growth in Granbury.”
This project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.
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.