Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the New River Regional Water Authority in Austinville, Virginia, for water infrastructure improvements needed to support local business growth and job creation.
This grant will expand the existing water treatment facility to boost its capacity to support a new rubber products manufacturing plant and other business needs. This EDA investment will be matched with $3.8 million in local funds, and is expected to create nearly 2,500 jobs, and generate $715 million in private investment, according to grantee estimates.
“The Biden-Harris Administration is investing in our middle class by building out infrastructure and supporting manufacturing, creating hundreds of thousands of jobs across Virginia and the entire country,” said Secretary of Commerce Gina Raimondo. “This EDA investment will help create even more new, high-paying jobs in Southwest Virginia and grow economic opportunity across the region.”
“The Economic Development Administration works hand-in-hand with local communities to support their bottom-up, middle-out economic development strategies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This strategic, place-based project will provide the infrastructure needed to accommodate a new manufacturing facility and attract additional private investment to create a stronger, more diverse regional economy for the future.”
“This 3-million-dollar grant to the New River Regional Water Authority is an important investment to this community and Virginia as a whole,” said Governor Glenn Youngkin. “The people of Austinville will benefit greatly from its economic effects.”
“Virginia’s communities continue to benefit from investments that boost our local economies, create high-paying jobs, and provide much-needed improvements to our infrastructure,” said Senator Mark Warner. “I’m thrilled to see this $3 million grant bring new opportunities to Austinville.”
“Our local communities rely on water infrastructure to create jobs and help their businesses grow,” said Senator Tim Kaine. “It’s crucial that our water systems are up to date, and I’m glad the New River Regional Water Authority is receiving this funding to improve water infrastructure, support a new manufacturing plant, and help create thousands of new jobs in Wythe County.”
“This is great news for Wythe County,” said Rep. Morgan Griffith (VA-9). “This $3 million in federal funding to support a new rubber products manufacturing plant and other business needs will create new opportunities for jobs and support economic development in the area.”
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.