U.S. Department of Commerce Invests $3.7 Million in American Rescue Plan Funds to Support Business Park Expansion in Reedsburg, Wisconsin
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 the Department’s Economic Development Administration (EDA) is awarding a $3.7 million grant to the city of Reedsburg, Wisconsin, to build road, sewer and stormwater infrastructure needed to expand the Reedsburg Business Park. This grant is funded by the American Rescue Plan and EDA’s $300 million Coal Communities Commitment.
This grant will provide the necessary infrastructure for businesses to locate, relocate, or expand, in a region that has been impacted by the declining use of coal. The EDA investment will be matched with $1.2 million in local funds and is expected to create 300 jobs, retain 100 jobs and generate $22 million in private investment, according to grantee estimates.
“President Biden’s American Rescue Plan offers direct relief to American communities as they work to build a better America for the future,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will provide the critical infrastructure needed to support business expansion, attract investment, and create a stronger, more robust regional economy.”
“The Economic Development Administration is pleased to support locally-driven strategies to boost business recovery efforts in Wisconsin,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “Expanding business opportunities in Reedsburg will create new opportunities as the community works to diversify their economy and build resiliency in the region for decades to come.”
“We know that investing in our small and local businesses and local infrastructure are a key part of building strong communities in every corner of our state,” said Governor Tony Evers. “I’m proud that Wisconsin ranks best in the country among states in allocating our federal relief funds toward economic development and support for businesses, and this $3.7 million investment will help us continue these efforts by supporting necessary infrastructure and creating 300 new jobs for the Reedsburg community.”
“I voted for the American Rescue Plan because it delivers support for our Made in Wisconsin economy and helps move our state forward,” said Senator Tammy Baldwin. “This federal investment from the Biden Administration will help build road, sewer and storm water infrastructure to expand the Reedsburg Business Park and spur economic development, create new jobs and strengthen the regional economy.”
“The American Rescue Plan has been a lifeline for communities like Reedsburg,” said Congressman Mark Pocan (WI-02). “This vital grant from the Economic Development Administration for Reedsburg will help create good-paying jobs and revitalize the economy. Thank you to Secretary Raimondo and Assistant Secretary Castillo for this grant.”
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.