|Program||# of Grants||EDA Funds|
|Assistance to Coal Communities||1||$150,000|
|Regional Innovation Program||3||$1,233,237|
|Research and Evaluation||1||$633,608|
Treasure Coast, FL - This region was among the hardest hit areas in the State of Florida and in the U.S following the 2008 economic downturn and housing market crisis. Historically, St. Lucie County’s economy has been dominated by three broad industry sectors – tourism, construction and real estate. These industries have largely been responsible for generating the county’s volatile unemployment rates (lower than the national average in a strong economy and higher than the national average in a soft economy). The St. Lucie County Board of County Commissioners placed an increased focus on long-term economic development and diversification efforts in their economic plans in order to reverse the tide and shift the economy and workforce in a positive direction. This strategic plan is also aligned with the State’s economic goals to recruit businesses to Florida, create more jobs and foster economic growth.
In February 2017, EDA invested $1,500,000 in Public Works funds to the St. Lucie County Board of County Commissioners to fund the construction of a new hanger and related road infrastructure at the Treasure Coast International Airport (TCIA), which is located in an active Foreign Trade Zone. The TCIA expansion project includes the construction of a 30,000 to 50,000 square foot pre-engineered metal building hangar large enough to accommodate two 747 aircrafts. This project allows TCIA to greatly enhance its growth and development as a dedicated regional hub for commercial aviation Maintenance, Repair and Overhaul (MRO) and related aviation industries. The increase in capacity at TCIA along with construction of the new hangar will allow the region to meet current demands and further solidify the Treasure Coast region as a major hub for these industries.
The new facility will leverage the airport’s regional assets - available land, established infrastructure (water, sewer, power), proximity to transportation networks, including U.S. 1 and Interstate 95, a Foreign Trade Zone and an existing base of twelve MRO companies - to advance the creation of long-term, high-wage jobs in the sustainable civil aviation maintenance industry. According to recipient estimates, including commitments received from two MRO companies, the TCIA Expansion Project will create 123 new jobs along with $810,000 in private investment at the project site.