Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $6.4 million grant to the city of Yankton, South Dakota, to make necessary water and sewer infrastructure improvements to increase capacity for businesses and promote resiliency following flood damage in 2019. The EDA grant, to be located near a Tax Cuts and Jobs ActOpportunity Zone, will be matched with more than $1.6 million in local funds, is expected to generate $11 million in private investment, and will allow for economic diversification opportunities in the region.
“The Trump Administration is working hard to rebuild our nation’s infrastructure and improve economic resilience in the wake of South Dakota’s historic flooding in 2019,” said Secretary of Commerce Wilbur Ross. “These investments in the city of Yankton will boost the capacity of the city’s water treatment plant to serve the community and enhance business interests, including those in a nearby Opportunity Zone.”
“EDA is pleased to support Yankton’s strategy to update its water treatment infrastructure near an Opportunity Zone,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “This project will allow the Yankton region to better control flooding, which will stabilize agriculture and other industry sectors while attracting new businesses.”
“South Dakota businesses and communities were ravaged in 2019 due to flooding,” said Steve Westra, Commissioner of the South Dakota Governor’s Office of Economic Development. “But we’ve proven to be hearty and resilient. Reliable infrastructure is the literal and physical foundation for successful economic growth and success. The EDA’s $6.4 million grant will help the Yankton community repair the damage that was sustained and help prevent the threat of future damages.”
“I’m pleased to see that Yankton will receive this funding from the Department of Commerce, which will make an important investment in the infrastructure necessary to reap the benefits of the Opportunity Zone program we created in the Tax Cuts and Jobs Act,” said Senator John Thune. “Especially during these difficult times, this announcement is welcome news for a city that experienced historic flooding last year.”
“Yankton faced unprecedented damage to some of its community treasures,” said Congressman Dusty Johnson. “Ensuring our infrastructure can withstand future flooding is crucial for our cities. I’m glad Yankton is receiving this grant so they can rebuild a more resilient water system.”
This project was made possible by the regional planning efforts led by the Planning & Development District III. EDA funds the Planning & Development District III 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 by the Additional Supplemental Appropriations for Disaster Relief Act of 2019 (Pub. L. 116-20) (PDF), which provided EDA with $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) funds for disaster relief and recovery for areas affected by Hurricanes Florence, Michael, and Lane, Typhoons Yutu and Mangkhut, wildfires, volcanic eruptions, and other major natural disasters occurring in calendar year 2018, and tornadoes and floods occurring in calendar year 2019, under the Robert T. Stafford Act. Please visit EDA’s Disaster Supplemental webpage.
The funding announced today will catalyze private investment in a nearby Opportunity Zone. Created by President Donald J. Trump’s Tax Cuts and Jobs Act of 2017, Opportunity Zones are spurring economic development in economically-distressed communities nationwide. In June 2019, EDA added Opportunity Zones as an Investment Priority, which increases the number of catalytic Opportunity Zone-related projects that EDA can fund to fuel greater public investment in these areas. To learn more about the Commerce Department’s work in Opportunity Zones, please visit EDA’s Opportunity Zones webpage. To learn more about the Opportunity Zone program, see the Treasury Department resources page here.
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.