U.S. Department of Commerce Invests $6.7 Million in American Rescue Plan Funds to Support Tourism Sector Through Development of New Visitor Infrastructure in Matanuska-Susitna Borough, Alaska
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $6.7 million grant to Matanuska-Susitna Borough, Alaska, to boost tourism through the development of new visitor infrastructure and amenities. This grant is funded by the American Rescue Plan.
This grant will support development and construction of a new visitor center to support the local tourism industry by providing local businesses with retail space and the opportunity to connect with visitors in a central location. The EDA investment will be matched with $1.7 million in local funds and is expected to create or retain nearly 180 jobs, according to grantee estimates.
“President Biden recognizes the vital contribution the travel and tourism industry makes to the American economy,” said Secretary of Commerce Gina Raimondo. “This project will create new opportunities for businesses in Matanuska-Susitna Borough to tap into Alaska’s important tourism economy, expanding the potential for economic growth and resilience.”
“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 a critical new amenity that the region needs to support local businesses and increase tourism in the community.”
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.