U.S. Department of Commerce Invests $3.9 Million in American Rescue Plan Funds to Support Business and Job Growth in Texas
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding $3.9 million in American Rescue Plan grants to support Texas as it recovers from the economic impacts of the COVID-19 pandemic.
The EDA investments announced today are:
- Amarillo Economic Development Corporation, Amarillo, Texas, will receive a $2.4 million EDA American Rescue Plan grant to provide road, water, and sewer infrastructure to support business expansion at the South Georgia Business Park. The project will be matched with $720,000 in local funds and is expected to create 205 jobs and generate $88 million in private investment, according to grantee estimates.
- City of McAllen, Texas, will receive a $1.5 million EDA American Rescue Plan grant for critical infrastructure to support the new McAllen Business-Industrial Park. The project will be matched with $3 million in local funds and is expected to create 665 jobs, retain 185 jobs, and generate $85 million in private investment, according to grantee estimates.
“President Biden is committed to providing communities with the resources they need to recover from the pandemic and build a better America,” said Secretary of Commerce Gina M. Raimondo. “These EDA investments will increase capacity for new business growth in Amarillo and McAllen, supporting diverse, robust regional economies.”
“The Economic Development Administration is focused on supporting locally-driven strategies to boost coronavirus recovery and response efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “The critical infrastructure provided by these EDA investments will lay the foundation for new businesses while supporting those already in operation, creating jobs for Texans across the state.”
“Thank you to the Economic Development Administration for this generous grant that will help support business expansion and job growth throughout Texas communities,” said Governor Greg Abbott. “This investment in Amarillo and McAllen will create numerous good-paying jobs for hardworking Texans in the Panhandle and in the Rio Grande Valley.”
“The Rio Grande Valley was hit hard during the COVID-19 pandemic, and many are still dealing with the after-effects,” said Congressman Vicente Gonzalez (TX-15). “This funding will provide critical infrastructure investments that will benefit the City of McAllen and the surrounding communities by attracting good paying jobs to combat poverty and unemployment. I applaud the Economic Development Administration for their continued efforts to invest in the physical infrastructure of South Texas and the economic mobility of the American worker.”
The Amarillo Economic Development Corporation project was made possible by the regional planning efforts led by the Panhandle Regional Planning Commission (PRPC). EDA funds PRPC 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.