U.S. Department of Commerce Invests $6.4 Million in American Rescue Plan Funds to Develop a New Business Facility in Duffield, Virginia
Award is Part of the Department of Commerce’s $300 million Coal Communities Commitment
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $6.4 million grant to the Lonesome Pine Regional Industrial Facilities Authority, Duffield, Virginia, for construction of a new multi-tenant business facility. This grant is funded by the American Rescue Plan and EDA’s $300 million Coal Communities Commitment.
This grant will provide workspace and related infrastructure for use by new and existing businesses. The EDA investment will be matched with $1.6 million in local funds and is expected to create 285 jobs and generate $5.4 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 Raimondo. “This EDA investment in Virginia will help bring new, diverse businesses to a state that has been impacted by the declining use of coal.”
“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. “This EDA investment will provide the infrastructure and other resources that local businesses need to grow and thrive.”
“I applaud today’s investment into the Lonesome Pine Regional Industrial Facilities Authority,” said Governor Glenn Youngkin. “By putting resources into Virginia’s economy, we are ensuring a better future for our Commonwealth.”
“This investment in Duffield, Virginia will help spur development and create good paying jobs in the community,” said Senator Mark Warner. “I am excited to see the American Rescue Plan continue to provide Virginia with the resources we need to support our growing businesses.”
“If we want to help grow our business community, we need safe, functional, and accessible spaces for them to set up shop,” said Senator Tim Kaine. “I’m glad to have helped pass the American Rescue Plan that is bringing this funding to Duffield where it will help build more of those much-needed spaces, all while creating over 280 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.
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. 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.