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Press Release

U.S. Department of Commerce Invests $1.5 Million to Strengthen Florida Aeronautical Cluster

WASHINGTON – The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the St. Lucie County Board of County Commissioners, Ft. Pierce, Florida, to help build a new hanger at the Treasure Coast International Airport (TCIA) that will increase the facility’s capacity to spur economic growth and create new jobs in the aeronautic sector. According to the grantee, the investment is expected to create more than 120 new jobs and generate $810,000 in private investment.

“The Commerce Department is committed to improving our nation’s infrastructure to attract private investment, which is crucial for job growth,” said Deputy Assistant Secretary for Regional Affairs Tom Guevara. “The grant announced today will bolster the region’s aeronautical cluster to attract new companies to the region.”

The new 50,000 square-foot hanger will accommodate two 747 aircrafts and will be located adjacent to the existing hangers at the TCIA and industrial park.

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.

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