Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $681,130 grant to the city of Story City in Iowa, for infrastructure improvements to support the regional manufacturing sector.
This grant will provide water and sewer upgrades at the I-35 Business Park, supporting business expansion and job creation. This EDA investment will be matched with $490,614 in local funds and is expected to create 35 jobs and generate $6 million in private investment, according to grantee estimates.
“The U.S. Economic Development Administration works with local communities to support place-based economic growth,” said Deputy Assistant Secretary for Policy and External Affairs, performing the non-exclusive functions and duties of the Assistant Secretary for Economic Development Cristina Killingsworth. “This project will provide the foundation to support manufacturing business growth at Story City’s I-35 Business Park, creating jobs, spurring private investment, and creating a strong regional economy.”
This project was made possible by the regional planning efforts led by the Mid-Iowa Planning Alliance for Community Development (MIPA). EDA funds MIPA 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.
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.