Press Release

U.S. Department of Commerce Invests Nearly $1.2 Million in Critical Infrastructure to Support Foreign-Direct Investment in Kentucky

Contact: Public Affairs Department, (202) 482-4085
Monday, August 25, 2014

WASHINGTON – U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding a $1.15 million grant to the city of Maysville, Kentucky, to construct a new water tank. According to the grantee, the project will support the expansion of the region’s automotive cluster, specifically a Mitsubishi plant, which will create 105 new jobs, retain 660 jobs and generate $60 million in private investment.

“The Obama Administration is committed to improving our nation’s infrastructure, which is crucial for both economic growth and job creation,” said Secretary Pritzker. “The EDA investment announced today will help Maysville address critical gaps in its existing infrastructure that will in turn support the expansion of existing industries and attract new businesses to the region.”

EDA’s investment will increase the capacity of the water system, and will provide potable water and fire protection to existing and expanding manufacturers and suppliers in the automotive cluster. In recent years, there has been significant growth for automotive businesses in the area, which has created a burgeoning cluster for the region. According to the grantee, the project will support the retention of numerous employers located in two industrial parks in the Maysville region.

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.