Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.5 million grant to the city of Milbank, South Dakota, to boot business growth in the region.
This grant will help build new roadways and utilities needed to expand the industrial park in Milbank. This EDA investment will be matched with $615,400 in local funds and is expected to create 120 jobs and generate $8 million in private investment, according to grantee estimates.
“The Biden-Harris Administration’s Investing in America agenda is ensuring that all communities have the resources and opportunities they need to compete and thrive in today’s economy, said Secretary of Commerce Gina Raimondo. “This EDA investment will support major upgrades to Milbank’s industrial infrastructure, providing the foundation for sustainable regional economic growth.”
“The Economic Development Administration works closely with local communities to support place-based economic growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will support business growth and enhance economic diversification, creating jobs and strengthening the regional economy.”
This project was made possible by the regional planning efforts led by the First District Association of Local Governments (First District). EDA funds First District 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.
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.