U.S. Economic Development Administration Invests $912,000 to Support Critical Infrastructure in South Carolina
Contact: Public Affairs Department, (202) 482-4085
Wednesday, March 5, 2014
WASHINGTON — The U.S. Commerce Department’s Economic Development Administration (EDA) today announced a $912,000 grant to the Lancaster County Water and Sewer District of Lancaster, South Carolina. The investment will make critical water and sewer infrastructure improvements to the area needed to attract foreign direct investment. These improvements will allow Keer America Corporation to build its first U.S. textile manufacturing facility in Lancaster. The facility will create jobs and increase exports, according to grantee estimates.
“EDA’s investment in Lancaster will help catalyze local plans to attract a new, job-creating manufacturing facility,” said Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine. “Not only will this investment increase jobs in the area, but it will greatly expand export opportunities for American manufactured textiles to the Chinese market.”
Keer America Corporation is a U.S. subsidiary of China’s The Keer Group and currently has no textile manufacturing facilities based in the U.S. According to grantee estimates, EDA’s investment will create more than 150 full-time jobs and result in nearly $56 million in private investments in the Lancaster area. Lancaster is an ideal setting for this sort of facility given its workforce, proximity to cotton producers, and access to the Port of Charleston’s direct service routes to China.
U.S. exports in 2013 set a new record for the fourth straight year. U.S. exports reached $2.3 trillion in 2013, up nearly $700 billion since 2009. The U.S. is the largest recipient of foreign direct investment in the world, and the Commerce Department is focused on helping increase that investment through programs like SelectUSA.
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.