Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.3 million grant to the town of Jaffrey, New Hampshire, to boost the local manufacturing sector by building a water treatment plant and transmission lines as part of the Cold Springs Water System project.
This project will establish the critical infrastructure needed to support the expansion of the local manufacturing sector, creating jobs in the region. This EDA grant will be matched with $2.3 million in local funds and is expected to create 100 jobs and generate $40 million in private investment.
“President Biden is dedicated to supporting our manufacturers and providing communities with the resources needed to grow and diversify their economies,” said Secretary of Commerce Gina M. Raimondo. “This EDA grant will provide the infrastructure that Jaffrey needs to help local businesses expand and create jobs, supporting economic resiliency in the region.”
“Economic Development Administration investments play an important role in advancing locally-led economic development strategies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will enhance local infrastructure to support Jaffrey’s current and future business needs.”
“I’m thrilled that the Economic Development Administration chose Jaffrey for this award, which is a boon to Cheshire County by spurring job creation, prioritizing water infrastructure updates and investing in the economic vitality of Monadnock communities,” said Senator Jeanne Shaheen. “As Chair of the Senate Appropriations Subcommittee that funds the EDA, I’ll keep working to see that the agency has the resources it needs to support important local projects like this in New Hampshire and across the nation.”
“Investing in local manufacturing has an economic ripple effect, making a positive difference in Granite Staters’ lives and our economy,” said Senator Maggie Hassan. “Today’s federal funding to the town of Jaffrey will not only help build a new water treatment plant and improve transmission lines, but it will also create manufacturing jobs and generate private investment. That is why I pushed for these federal dollars, and I will continue to work to invest in local manufacturing in order to strengthen New Hampshire’s economy and help Granite Staters thrive.”
“This EDA grant will further build on the state’s work in providing critical infrastructure to spur private investment,” said Governor Chris Sununu. “We look forward to the successful completion of these projects and the boost they will provide to manufacturing in Jaffrey and the region.”
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.