Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $850,000 grant to the city of Weslaco, Texas, to expand hangar capacity at the Weslaco Mid Valley Airport to boost the competitiveness of the local Foreign Trade Zone. This EDA grant, to be matched with $566,667 in local investment, is expected to help attract $8 million in private investment.
“Infrastructure investment is important to the Trump Administration because it helps further propel economic advancements in our country,” said U.S. Assistant Secretary of Commerce for Economic Development Dr. John Fleming. “This EDA investment will provide the airport infrastructure the Lower Rio Grande Valley region needs to support private capital investment and jobs.”
The project will expand the Weslaco Mid Valley Airport hangar complex within the Weslaco Foreign Trade Zone. It was made possible by the regional planning efforts led by the Lower Rio Grande Valley Development Council (LRGVDC), an EDA Designated Economic Development District. EDA funds LRGVDC 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 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.