Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the town of Spindale, North Carolina, for water and sewer system improvements needed to support business growth and job creation in a region impacted by fluctuations in the energy economy.
This project will provide water and sewer system upgrades needed to support the expansion of a local truckload carrier company, while attracting other businesses to the region, including a travel plaza. This EDA investment will be matched with $388,809 in local funds, and is expected to create or retain 35 jobs, and generate $5 million in private investment, according to grantee estimates.
“President Biden’s Investing in America agenda provides communities – including those impacted by a decline in the coal economy – with the resources they need to grow and diversify their economies,” said Secretary of Commerce Gina Raimondo. “This EDA investment will help create opportunities for residents to get good-paying jobs in the trucking industry and other in-demand sectors, like hospitality.”
“The Economic Development Administration is pleased to partner with the town of Spindale in their place-based approach to bringing new opportunities to the region,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA grant will address local business and workforce by helping to diversify the local economy for the future.”
“This grant will enhance water and wastewater infrastructure and bring good-paying jobs to the Spindale community for years to come,” said Governor Roy Cooper. “We’re glad to continue working with the Biden-Harris administration to help boost our economy and create more opportunities for all.”
This project was made possible by the regional planning efforts led by the Foothills Regional Commission (FRC). EDA FRC funds to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
This project is funded under the Assistance to Coal Communities (ACC) initiative, through which EDA awards funds on a competitive basis to assist communities severely impacted by the declining use of coal. ACC projects support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.
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.