U.S. Department of Commerce Invests $1.8 Million in American Rescue Plan Funds to Support Tourism Growth in Rensselaer, Indiana
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.8 million grant to the city of Rensselaer, Indiana, to make streetscape infrastructure improvements that will help boost tourism in the core of the city’s downtown. This grant is funded by the American Rescue Plan.
This grant will drive the growth of the local tourism sector by providing downtown Rensselaer with new sidewalks, pedestrian/bicycle paths, improved American with Disabilities Access (ADA) access, stormwater improvements, new lighting, new trash receptacles, and renovated brick streets on Van Rensselaer and Harrison streets. The EDA investment will be matched with $795,300 in local funds and is expected to create 50 jobs, retain 69 jobs and generate $200,000 in private investment, according to grantee estimates.
“President Biden recognizes the vital contribution the travel and tourism industry makes to the American economy,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in Rensselaer, Indiana, underscores the Biden-Harris Administration’s commitment to helping this critical sector not only recover from the economic impact of the coronavirus pandemic but build back stronger and more equitably for the future.”
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “The upgrades to downtown Rensselaer will help attract visitors to the area and bolster the business district that was hit hard by the pandemic.”
This project is funded under EDA’s $240 million competitive American Rescue Plan Travel, Tourism, and Outdoor Recreation program. EDA awarded $510 million in grants to all 50 states and territories in 2021. The two programs are designed to accelerate the recovery of communities that rely on the travel, tourism and outdoor recreation sectors. Effective May 26, 2022, EDA has officially closed all of its American Rescue Plan programs for applications. The $3 billion program funding will be awarded on a rolling basis through September 30, 2022.
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.