U.S. Department of Commerce Invests $1.7 Million in American Rescue Plan Funds to Support Business Development in Richmond County, Virginia
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.7 million grant to Richmond County, Virginia, for infrastructure improvements at the Richmond County Commerce Park. This grant is funded by the American Rescue Plan.
This grant will provide for roadway construction, clearing and grading, and the installation of sanitary sewer, water, and drainage infrastructure to support business development. The EDA investment will be matched with $430,337 in local funds and is expected to create nearly 30 jobs and generate $3.5 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 grant will provide the infrastructure that Richmond needs to attract new businesses and create jobs, supporting economic resiliency in the region.
“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 support Richmond County’s strategy to create new businesses and jobs for the region.”
“Today’s grant announcement is a step in the right direction towards making Virginia the best place to live, work and raise a family while respecting our environment,” said Governor Glenn Youngkin. “Infrastructure development is essential to ensuring Virginia’s continued economic growth and expansion. These projects that take advantage of our great resources and workforce go a long way in keeping Virginia open for business.”
“The American Rescue Plan has continued to provide direct support to communities in need,” said Senator Mark Warner. “I am thrilled to see this grant help the Northern Neck continue to recover from the COVID-19 pandemic.”
“I’m glad that Richmond County is receiving federal funding from the American Rescue Plan for infrastructure improvements at the Richmond County Commerce Park,” said Senator Tim Kaine. “These resources will help bring more business to the area, expand job opportunities, and strengthen our local economy.”
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.
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.