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Contact: Public Affairs Department, (202) 482-4085
Thursday, September 20, 2012
WASHINGTON - The U.S. Department of Commerce's Economic Development Administration (EDA) today announced a $756,894 grant to the city of Troy, Missouri, to make critical roadway improvements needed to help Bodine Aluminum expand operations and serve future development. The investment is expected to create 35 jobs and generate $10 million in private investment, according to grantee estimates.
"This EDA investment in Troy, Missouri, is a great example of the Obama administration's commitment to helping communities realize their local plans to create jobs and economic opportunity," said Acting Assistant Secretary of Commerce for Economic Development Matt Erskine. "The EDA grant announced today will help create jobs in Troy now in the crucial auto industry and ensure that adequate infrastructure exists to support future development."
"The infrastructure investment by EDA will enable Troy to facilitate the expansion by Bodine Aluminum, creating new high skilled jobs in the growing automotive industry that will bolster out regional economy," stated Troy Mayor Mark Cross.
The EDA grant will help reconstruct Cherry Blossom Way from South Main Street to South Third Street to support the expansion of Bodine Aluminum and support other business development in Troy. Bodine Aluminum supplies four cylinder, six cylinder and eight cylinder aluminum castings to support all Toyota assembly operations in North America.
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.