U.S. Department of Commerce Invests $3.6 Million in American Rescue Plan Funds for Infrastructure to Support Business Development in Texas
WASHINGTON – Today, U.S. Secretary of Commerce Gina M. Raimondo announced the Department’s Economic Development Administration (EDA) is awarding $3.6 million in American Rescue Plan grants to support Texas as it recovers from the economic impacts of the coronavirus pandemic.
The EDA investments announced today are:
- The city of Belton, Texas, will receive a $2 million grant for water and wastewater improvements to support development of an industrial area, attracting new businesses to the city. The project will be matched with $500,000 in local funds and is expected to create 131 jobs, retain 225 jobs, and generate $12 million in private investment, according to grantee estimates.
- The city of Elgin, Texas, will receive a $1.6 million grant for extension and expansion of Roy Rivers Road to provide access to future expansion of a commercial and industrial park. The project will be matched with $2.5 million in local funds and is expected to create 116 jobs and generate $12 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 in the process,” said Secretary of Commerce Gina M. Raimondo. “These EDA investments will provide for critical infrastructure improvements to support business development and job growth in Texas.”
“The Economic Development Administration is dedicated to working with communities to support their locally-driven strategies to recover and rebuild from the pandemic,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “We are pleased to partner with Belton and Elgin to provide water and roadway infrastructure that local businesses need to grow, thrive and create new jobs for Texans.”
“Thank you to the Economic Development Administration for these investments that will help improve the infrastructure and boost the local economies of Belton and Elgin,” said Governor Greg Abbott. “Water, wastewater, and road improvements are imperative to creating a brighter future for all Texans, and these investments will support the job growth and business development of Central Texas.”
These projects are 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. 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.
These projects were made possible by the regional planning efforts led by the Central Texas Council of Governments (CTCOG) and the Capital Area Council of Governments (CAPCOG). EDA funds CTCOG and CAPCOG 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.
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.