Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.7 million grant to the Economic Development Authority of Floyd County, Virginia, for roadway and wastewater infrastructure improvements to support business growth.
This grant will provide the infrastructure needed to support Phase 2 development of the Floyd Regional Commerce Center. This EDA investment will be matched with $680,000 in local funds.
“Thanks to the leadership of President Biden, the Department of Commerce is helping communities recover from disasters and unlock the full potential of economies across the country,” said Secretary of Commerce Gina Raimondo. “This EDA grant will help ensure that Floyd County, Virginia has the resources necessary to create modern and sustainable infrastructure that will support local business, create good-paying jobs, and transform the local economy.”
“The Economic Development Administration works closely with communities to support locally driven disaster recovery and resiliency,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This strategic, place-based project will provide critical infrastructure to support business growth and a robust, diversified local economy in Floyd County.”
“This grant will greatly benefit the residents of Floyd County by enhancing the transportation Infrastructure,” said Governor Glenn Youngkin. “I look forward to the improvements this grant will bring to the region, especially when the second phase of the Floyd Regional Commerce Center is completed.”
“I’m thrilled that this grant will help support necessary infrastructure improvements for the Floyd Regional Commerce Center. This funding will help to continue the growth of the center and provide economic development opportunities for the region,” said Senator Mark Warner.
“I’m thrilled this funding is headed to Floyd County to support safe, accessible roads and improved wastewater infrastructure,” said Senator Tim Kaine. “This investment will also support the development of the Floyd Regional Commerce Center, which will create business opportunities and good-paying jobs. I’m glad to have voted for the legislation that made this funding possible, and will keep doing all that I can to secure the resources Virginia communities need.”
“This is great news for Floyd County. This investment from the EDA to improve Floyd’s roadway and wastewater infrastructure will help support economic development and job growth in the county,” said Representative Morgan Griffith (VA-09). “This grant will positively impact the area for years to come.”
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.