U.S. Economic Development Administration Invests $1.5 Million to Upgrade Critical Infrastructure that Supports Job Creation and Industry Growth in North Little Rock, Arkansas
Contact: Public Affairs Department, (202) 482-4883
Tuesday, May 13, 2014
Governor Mike Beebe Applauds Federal Investment to Help Revitalize North Little Rock
WASHINGTON - U.S. Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine today joined Arkansas Governor Mike Beebe in the State Capitol building in Little Rock to announce a $1.5 million U.S. Economic Development Administration (EDA) grant to the city of North Little Rock. The investment will help make critical energy-related infrastructure improvements to serve the local business community. According to grantee estimates, the grant is expected to help create or retain roughly 350 jobs and generate more than $60 million in private investment.
“The Obama Administration is committed to supporting critical infrastructure, which advances economic growth and job creation in communities nationwide,” said Deputy Assistant Secretary of Commerce for Economic Development Matt Erskine. “This EDA investment will help to revitalize an undeveloped portion of North Little Rock by providing the energy capacity needed to support local businesses and to attract new businesses and jobs to the area.”
“This commitment from the EDA will help us both keep and create hundreds of high-paying, quality jobs,” Governor Beebe said. “As Arkansas’s employers consider expansion, we need the infrastructure in place to accommodate that growth. The EDA helps make major expansions like this one possible.”
The EDA grant will help the city purchase generators and all necessary equipment for installation along the major North Little Rock intersection of Highway 70 and I-440 for the purpose of attracting new industry and businesses to the area. The added energy capacity is expected to serve a major wholesale food distributor and other established and future commercial enterprises.
On May 8, President Obama visited Arkansas to get a first-hand look at communities impacted by the deadly April 27 tornado outbreak. During his visit, the President vowed the federal government’s commitment to working with impacted communities until they are rebuilt. During his time with Governor Beebe, Erskine reiterated this promise and discussed EDA’s role in disaster recovery.
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.