U.S. Department of Commerce Invests $2 Million in American Rescue Plan Funds for Roadway Improvements to Support Business Development in Springdale, Arkansas
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Springdale, Arkansas, to extend Dixieland Road in the northern portion of the city. This grant is funded by the American Rescue Plan.
This project will create direct highway access for a proposed 700,000 square foot commercial distribution and warehouse industrial lease space, which will attract new businesses to the area. This EDA investment will be matched with $4.9 million in local funds and is expected to create 1,000 jobs and generate $42 million in private investment.
“President Biden’s American Rescue Plan is providing direct support to communities as they build back better from the pandemic,” said Secretary of Commerce Gina M. Raimondo. “Infrastructure is vital to economic growth and job creation, and this project will lay the groundwork to support a variety of increased industrial and manufacturing possibilities.”
“The Economic Development Administration works closely with local communities to provide customized support to grow their economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will provide the roadway infrastructure needed to serve a 700,000-square foot industrial lease space and other business needs, bringing new economic opportunity and good-paying jobs to the community.”
This project was made possible by the regional planning efforts led by the Northwest Arkansas Economic Development District (NWAEDD). EDA funds NWAEDD 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 EDA’s American Rescue Plan Economic Adjustment Assistance program, which makes $500 million in Economic Adjustment Assistance grants available to American communities. The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.
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 invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.