Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $9 million in the state of Kentucky to boost the automotive manufacturing sector and promote small business development in the region.
The EDA investments announced today are:
- The city of Shepherdsville will receive a $6 million grant for water infrastructure improvements to support the automotive and electric battery manufacturing sectors. This EDA investment will be matched with $15.9 million in local funds.
- The Mayfield Kentucky Industrial Development Authority in Mayfield will receive a $3 million grant to construct a shared fabrication space with resources for small businesses and entrepreneurs. This EDA investment will be matched with $150,000 in local funds.
“The Biden-Harris Administration’s Investing in America agenda is ensuring that all communities have the resources and opportunities they need to compete and thrive in today’s economy,” said Secretary of Commerce Gina Raimondo. “These EDA investments will advance that mission by providing the infrastructure that businesses in Kentucky’s regional economy needs to be resilient and successful while supporting small business clean energy development.”
“The Economic Development Administration is proud to partner with local communities to support place-based economic growth,” said Acting Assistant Secretary of Commerce for Economic Development Cristina Killingsworth. “These investments will support economic growth and resilience throughout the region.”
The Shepherdsville project was made possible by the regional planning efforts led by the Kentuckiana Regional Planning & Development Agency (KIPDA). The Mayfield project was made possible by the regional planning efforts led by the Purchase Area Development District (PADD). EDA funds KIPDA and PADD 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.
These projects are funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.
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.