U.S. Department of Commerce Invests $3 Million to Support Business Attraction and Expansion Efforts in Southern Indiana
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the River Ridge Development Authority, Jeffersonville, Indiana, to connect two new water storage tanks to the five-county River Ridge Development Area.
This grant will provide additional reliable water capacity for the River Ridge Development Park, supporting the expansion of existing businesses and the attraction of others, including manufacturers, to the region. The EDA investment will be matched with $4.2 million in local funds and is expected to create 1,000 jobs and generate $100 million in private investment, according to grantee estimates.
“The Biden-Harris Administration is committed to investing in infrastructure needs critical to spurring economic growth in communities across the nation,” said Secretary of Commerce Gina Raimondo. “This EDA investment in the River Ridge Development Area will strengthen businesses in southern Indiana, attract new private investment and boost U.S. global competitiveness.”
“The Economic Development Administration plays an important role in supporting locally-developed strategies designed to create economic opportunity,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is proud to partner with the River Ridge Development Authority as it makes strides to bolster and diversify its regional economy.”
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.