Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $4.2 million CARES Act Recovery Assistance grant to the city of North Richland Hills, Texas, to improve Iron Horse Boulevard in support of the growth and retention of local industry and manufacturers, including a major manufacturer of medical and Personal Protective Equipment (PPE). This EDA grant, to be matched with more than $1 million in local investment, is expected to create 200 jobs and retain 832 jobs.
“President Biden is committed to supporting businesses and revitalizing our domestic manufacturing capacity to keep our nation competitive and create good-paying jobs for the American people,” said Secretary of Commerce Gina Raimondo. “This EDA investment in the city of North Richland Hills will make roadway infrastructure improvements needed to retain essential employers including a major manufacturer of medical and PPE equipment, an aerospace manufacturer, and a food processing facility.”
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “A restructured Iron Horse Boulevard will attract new businesses, encourage established businesses to stay and expand in their current location, and boost economic resilience to future disruptions.”
“While Texans persevere as COVID-19 wreaks havoc on our state, we must take steps to ensure that our communities are equipped to weather the storm,” said Senator John Cornyn. “I applaud this announcement and will continue to do everything I can to make economic growth in North Richland Hills a high priority.”
This project was made possible by the regional planning efforts led by the North Central Texas Council of Governments, which EDA funds 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 Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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 makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.