Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to the city of Canton, Illinois, to make critical water infrastructure improvements needed to support new and existing businesses throughout Fulton County. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $1 million in local funds and is expected to create 130 jobs and retain nearly 1,450 jobs.
“The Trump Administration is committed to helping American communities obtain the modern infrastructure they need to encourage business attraction and growth,” said Secretary of Commerce Wilbur Ross. “This project will provide Canton and Fulton County with the water infrastructure it needs to support businesses, and the project’s location in an Opportunity Zone will attract additional investment.”
“Improving Canton’s aging water treatment plant will support established businesses and encourage additional business growth in the wake of recent flood events,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “The Economic Development Administration is pleased to support this locally-driven project to help the region become more resilient and the project’s Opportunity Zone designation will further transform the region’s economy.”
The funding announced today goes to one of Illinois’ 327 Opportunity Zones. 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.