Press Release

U.S. Department of Commerce Invests $2 Million in Keokuk Municipal Waterworks of Keokuk, Iowa

January 28, 2009
Contact: Bryan Borlik, (202) 482-4085

The U.S. Commerce Department's Economic Development Administration (EDA) today announced a $2 million grant to Keokuk Municipal Waterworks of Keokuk, Iowa to help build a water storage and distribution system that will facilitate the planned expansions of several area businesses and spur future, new development.

"The Economic Development Administration is pleased to partner with Keokuk Municipal Waterworks to boost business development and job growth," said Sandra R. Walters, EDA Chief Financial Officer/Chief Administrative Officer. "This EDA grant is expected to create more than 450 new jobs and generate more than $40 million in private investment."

EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA's mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.

Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.