U.S. Department of Commerce Invests $1.5 Million in American Rescue Plan Funds for Infrastructure Improvements to Support Business Growth in Jacksboro, Texas
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Jacksboro, Texas, for road and water infrastructure improvements to support business growth in the Jacksboro Business Park. This grant is funded by the American Rescue Plan.
This EDA investment will support local business expansion while attracting new employers to the region. This EDA grant will be matched with $17,000 in local funds and is expected to create 194 jobs and generate $2.8 million in private investment, according to grantee estimates.
“President Biden is committed to harnessing the full power of the federal government to ensure our nation not only recovers from this pandemic but builds a stronger America for the future,” said Secretary of Commerce Gina Raimondo. “This EDA investment will play an important role in creating new opportunities for economic development, bringing businesses and jobs to Jacksboro and the surrounding region.”
“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 for expansion of the Jacksboro Business Park, supporting job creation and a diversified regional economy.”
“I thank the Economic Development Administration for investing in Jacksboro and helping the city make critical infrastructure improvements that will boost business growth and development,” said Governor Greg Abbott. “With the expansion of the Jacksboro Business Park, we will continue creating more good-paying jobs and economic opportunities for the community and Texans across the region.”
This project was made possible by the regional planning efforts led by the Nortex Regional Planning Commission (Nortex). EDA funds Nortex 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.
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.