“This substantial $1.15 million investment by the U.S. Department of Commerce will be essential to get this Jackson site ready for new business development,” said Governor Bevin. “We are sending a clear message to the world that Kentucky is open for business, and these funds will strengthen the local economy by offering a development site that is ready to support new investment and job growth in the community.”
“This is great news for Eastern Kentucky, and I’m pleased to see the Department of Commerce continuing to implement a pro-coal, pro-job agenda to support our coal miners, their families, and the surrounding communities,” said Senator Paul. “I know how important these investments are, which is why I’m committed to continuing my efforts in Congress to promote economic growth and job creation across the region.”
This investment will facilitate Jackson’s Lakeside Drive water and sewer extension project to make vacant acreage adjacent to the Kentucky River Medical Center available for new business and medical offices. This project was made possible by the regional planning efforts led by the Kentucky River Area Development District. EDA funds the Kentucky River Area Development District 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 financed under the 2018 Assistance to Coal Communities (ACC 2108) program, through which EDA will award funds on a competitive basis to assist communities severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.
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 makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.