U.S. Department of Commerce Invests $525,000 in CARES Act Recovery Assistance to Support Business Expansion and Growth Efforts in Hampton, South Carolina
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $525,000 CARES Act Recovery Assistance grant to Lowcountry Regional Water System, Hampton, South Carolina, to update and improve the wastewater sewer system to support business expansion and attraction plans and bolster the region’s ability to withstand future economic disruptions. This EDA grant, to be matched with $250,000 in state funds, is expected to create 50 jobs, retain 125 jobs, and generate $2 million in private investment.
“The Economic Development Administration plays and important role in helping communities across the nation implement strategies to mitigate the economic hardships of the coronavirus pandemic,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This EDA investment will support wastewater system improvements that will aid the expansion of a biomedical research company and attract new businesses to Hampton County.”
“This is great news for Hampton County,” said Senator Lindsey Graham. “This funding will allow the Lowcountry Regional Water System to make necessary infrastructure improvements that will promote economic development in the region. I appreciate the EDA’s work to help turn this into reality. The Palmetto State is a great place to do business, and this grant will help to make Hampton County and the surrounding communities even more attractive for future investment.”
“Water and wastewater are essential to the lives and livelihoods of South Carolinians,” said Congressman James E. Clyburn (SC-06). “Water infrastructure can be the difference in economic growth or loss of business. I applaud the for use of CARES Act funds to support this rural regional water system and to strengthen economic development in Hampton County.”
This project was made possible by the regional planning efforts of the Lowcountry Economic Development District, which EDA funds to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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.