June 2019
In This Issue
Spotlight Story: FDI: Abetting Global Competitiveness and Business Investment FDI in the U.S.
Foreign Direct Investment (FDI) plays an important role in the U.S. economy by supporting the creation of jobs, increasing wealth and living standards, and by helping stimulate the overall growth and innovation that drives U.S. economic competitiveness. That is why EDA works regularly with SelectUSA, the Department of Commerce program to stimulate foreign investment in the U.S. Success Story: Grayling Mill, ARAUCO’s First Greenfield Plant Constructed in the United States, Transforms Manufacturing in Michigan ARAUCO’s Grand Opening, April 16, 2019
A $3.2 million EDA public works project to help fund water and wastewater facility upgrades in Grayling, Michigan, resulted in the attraction of foreign-based particle board manufacturer ARAUCO. The $400 million particleboard mill, which has given Crawford County and the region a well-needed boost in economic growth, is a global producer of wood products, and built a new state-of-the-art plant that opened in April 2019. The facility is the most modern and productive mill of its kind and marks the renewal of the composite panel industry in North America. Highlight: How Americas Competitiveness Exchange Fosters Collaboration and Foreign Direct Investment Across the Globe Americas Competitiveness Exchange (ACE) 11
Fifty leaders from the Americas and beyond visited more than 20 sites to create multisectoral learning and exchange opportunity during the 11th Americas Competitiveness Exchange (ACE) in Puerto Rico, United States, on May 18-25, 2019. |
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Opportunity Zones as an EDA Investment PriorityEDA has added Opportunity Zones as an Investment Priority. This new Investment Priority will significantly increase the number of catalytic Opportunity Zone-related projects that EDA can fund to spur greater public investment in these areas. Read more about the prioritization of applications for Opportunity Zone projects in our press release.  Assistant Secretary John Fleming announces Opportunity Zones as an investment priority for EDA
U.S. Department of Commerce Invests to Boost Workforce Training Opportunities in Baltimore, Maryland Opportunity ZoneAssistant Secretary Dr. John C. Fleming announces EDA investment of $1.6 million in City Life Community Builders of Baltimore, Maryland, to support the reuse of the Hoen Lithograph Complex as a workforce training center. For more information about this investment, read our official press release.  Dr. Fleming announces the $1.6 million grant in Baltimore
Reminder: Fiscal Year 2018 Disaster Supplemental Funding Still AvailableEDA has $587 million available for disaster recovery grants in communities experiencing economic distress or other economic harm resulting from Hurricanes Harvey, Irma, and Maria and wildfires and other federally declared natural disasters occurring in calendar year 2017. Please visit EDA’s Disaster Supplemental Funding page for more. EDA in the News! Berryville receives $1.5 million federal grant for industrial park infrastructure $1.4 million grant will help secure wood pellet plant for Lucedale Louisiana’s Houma-Terrebonne Airport Gets $1.3M Drone Grant U.S. Economic Development Administration Adds OZs as Investment Priority Hoen Lithograph Complex to be redeveloped Federal $3.1 million road grant set to benefit ongoing Ludlow Mills redevelopment project Beaverton gets $1.45 million from feds for industrial park Regional medical center coming to Clarke County |
