|Program||# of Grants||EDA Funds|
|Assistance to Coal Communities||1||$550,000|
|Economic Adjustment Assistance||1||$1,136,124|
|Regional Innovation Program||1||$500,000|
|Trade Adjustment Assistance||1||$977,743|
Somerset, MA - Somerset has experienced sudden job losses within the region and the County of Bristol due to the closure of the 235-acre, coal-fired Brayton Point Power in May 2017 as well as the Montaup coal-fired plant in 2010. These closures resulted in a loss of $18-$22 million in tax revenues, over 350 job losses and $2.5 million in water and sewer fees. The community needs to rebuild the local economy, attract new development and create job opportunities for local residents.
In October 2017, EDA invested $550,000 in Economic Adjustment Assistance through Assistance to Coal Communities funds to the Town of Somerset to develop a Water Resource Management Plan to address needed capital improvements to their existing wastewater treatment facility. Completion of the project will generate new local and regional economic opportunities that will provide needed revenue to assist with wastewater needs through the establishment of sewer district with the neighborhood community of Swansea. In addition, EDA funds will be used to provide an update to the town’s master plan which is over 10 years old and to prepare a much needed economic development plan to chart a new course and lay the foundation for growth and development.
Since EDA’s award, the Commercial Development Company, from St Louis, has emerged as the new owner of the Brayton Point site with potential redevelopment plans for a deep water, industrial port and staging area for the off shore wind and power industry. As a result of these capacity building activities, Somerset will be strategically positioned to take advantage of the renewed interest and activity around off shore wind energy projects proposed by both Deep Water Wind and Bay State Wind.