U.S. Department of Commerce Invests $1.5 Million in American Rescue Plan Funds to Make Critical Infrastructure Improvements Needed to Boost Business Growth and Create New Jobs in Bristol, Tennessee
Award is Part of the Department of Commerce’s $300 million Coal Communities Commitment
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Bristol, Tennessee, to upgrade the municipal wastewater treatment plant to service a major antibiotic production facility and other current and future business needs. This grant is funded by the American Rescue Plan.
This project will provide the wastewater infrastructure capacity needed to better serve local businesses and bring new businesses and jobs to the community. This EDA grant will be matched with $2.4 million in local funds and is expected to create 125 jobs and generate $165 million in private investment.
“President Biden supports community-led efforts to diversify and grow regional economies,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will provide the wastewater treatment capacity that Bristol needs to support the growth of a major pharmaceutical manufacturer and other local businesses while attract new business interests.”
“The Economic Development Administration plays an important role supporting local strategies designed to stoke new, diversified business opportunities in communities adjusting to changes in their economy,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will allow for the expansion of business operations and will help attract private investment and jobs as the region works to diversify its local economy.”
This project was made possible by the regional planning efforts led by the First Tennessee Development District (FTDD). EDA funds FTDD 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.
EDA’s Coal Communities Commitment allocates $300 million of EDA’s $3 billion American Rescue Plan appropriation to support coal communities as they recover from the pandemic and to help them create new jobs and opportunities, including through the creation or expansion of a new industry sector. Specifically, EDA has dedicated $100 million of its Build Back Better Regional Challenge funds and $200 million of its Economic Adjustment Assistance funds to directly support coal communities.
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.