U.S. Department of Commerce Invests $941,383 in American Rescue Plan Funds to Expand Marina and Boost Business and Job Growth in New Buffalo, Michigan
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $941,383 grant to the city of New Buffalo, Michigan, to support the municipal marina expansion project. This grant is funded by the American Rescue Plan.
This grant will support docking and waterfront improvements designed to increase boat capacity and spur business growth in the region. The EDA investment will be matched with $1.5 million in local funds and is expected to create or retain 60 jobs and generate $2 million in private investment, according to grantee estimates.
“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 ensure the long-term viability of New Buffalo’s marina as a critical source of economic development in the region.”
“New Buffalo is a beautiful community on the shores of Lake Michigan,” said Senator Debbie Stabenow. “This important investment will support our small businesses, help attract more visitors and promote local tourism and boating which are critical economic drivers for the community.”
“I was proud to help pass the American Rescue Plan to ensure that as our communities continue to rebuild stronger from the pandemic, they can do so in a way that ensures long-term growth and resiliency,” said Senator Gary Peters. “This federal support will help New Buffalo further develop its marina and waterfront infrastructure – creating new jobs for Michiganders and bolstering economic growth within the region.”
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. 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.