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Contacts: John Atwood, (202) 482-4085
Monday, July 2, 2012
WASHINGTON - The U.S. Department of Commerce's Economic Development Administration (EDA) today announced a $2.7 million Economic Development Administration (EDA) grant to the city of Rockford, Illinois, and the Greater Rockford Airport Authority for the rebuilding of major access roads to the airport to enhance opportunities for business growth. The project is expected to create 711 jobs and attract $77 million in private investment, according to grantee estimates.
"President Obama is committed to helping American businesses hire, grow, and compete and continues to make infrastructure investments to put thousands of construction workers back on the job rebuilding our roads, our bridges, and our runways," said Acting Assistant Secretary of Commerce for Economic Development Matt Erskine. "This $2.7 million EDA investment will enable companies doing business at the Chicago Rockford International Airport to increase their cargo handling capabilities, creating new jobs and ensuring the continued viability of the airport."
The Chicago Rockford International Airport is one of the country's top 25 cargo facilities and has a Foreign-Trade Zone. The EDA investment will also help improve operations. The federal funds will go toward the rebuilding of two major roads at the airport, Airport Drive and Falcon Road, allowing them to accommodate heavy-duty trucks of up to 80,000 pounds. This will allow for the handling of larger cargo loads at the airport and will facilitate the expansion of business by companies serving key industries in the Chicago area, such as shipping and logistics firms and pharmaceutical manufacturers.
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.