Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the Development Authority of Augusta, Augusta, Georgia, to boost business and job growth by providing water and sewer improvements at the Augusta Corporate Park.
This project will provide the infrastructure necessary to accommodate two new industries and create jobs for the region. The EDA investment will be matched with $2.1 million in local funds, and is expected to help create 82 jobs and generate $312 million in private investment, according to grantee estimates.
“President Biden is committed to supporting local efforts to create new opportunity and jobs in communities impacted by the declining use of coal,” said Secretary of Commerce Gina Raimondo. “This investment will provide the infrastructure that Augusta needs to support the creation of new businesses that can diversify and grow the regional economy.”
“The Economic Development Administration is pleased to support the region’s strategy to grow the local economic base through infrastructure improvements designed to attract businesses and promote job growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This investment will broaden and grow the local economy following the decline in the coal industry.”
This project was made possible by the regional planning efforts led by the Central Savannah River Area Regional Commission (CSRA RC). EDA funds CSRA RC 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.
This award is a great example of what communities can do under EDA’s new American Rescue Plan programs; particularly the $300 million Coal Communities Commitment. This investment will ensure that coal communities have the resources they need to recover from the pandemic and will help create new jobs and opportunities, including through the development or expansion of a new industry sector.
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.