|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||1||$344,508|
|Regional Innovation Strategies||1||$499,999|
|Research And Evaluation||1||$250,000|
Lake Worth, Florida has suffered numerous recent job losses, as well as an unemployment rate that is higher than the national average. Like many Florida communities, the City seeks to diversify their economy beyond tourism and retail-led development to build resilience against inevitable economic downturns. Lake Worth faces persistent challenges in maintaining an adequate infrastructure to support the needs of a growing economy, and maintaining existing employers who already rely on it.
In February 2016, EDA invested nearly $1.4 million in Public Works funds to support Lake Worth with the construction of roadway and infrastructure improvements to create 80 available acres to expand the Lake Worth Commerce Park, provide access to I-95 and a CSX rail line. The expansion of Lake Worth Commerce Park is estimated to create 320 direct jobs and generate $19.3 million in private investment. The additional 80 acres of developed land will have the capacity to serve several employers. The infrastructure improvements will also benefit the rapidly growing local cosmetics company, Oxygen Development. This company is an outsourcing partner to many global brands and attributes its success to innovation, quality and operational excellence. The infrastructure investment helps the Part retain existing employers like this innovative cosmetic company and contributes to the expansion of the industry as a whole.