Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million CARES Act Recovery Assistance grant to the Lubbock Economic Development Alliance, Lubbock, Texas, for enhancements to the Lubbock Rail Port, supporting job creation and business expansion. This EDA grant, to be matched with $1.2 million in local funds, is expected to create 38 jobs and generate $5 million in private investment.
“The Biden Administration is working tirelessly to assist communities making critical infrastructure upgrades needed to create more resilient economies in the wake of the coronavirus pandemic,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment will provide infrastructure needed to increase the capacity of Lubbock’s Rail Port to support business and create jobs.”
“The Lubbock Rail Port is an incredible local asset and is critical to food processors, light manufacturing and heavy industrial companies in need of access to a rail line,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is pleased to invest in improving the Rail Port to bring new businesses and jobs to Lubbock.”
“Thank you to the Economic Development Administration for investing in the Lubbock Rail Port,” said Governor Greg Abbott. “This grant will support critical infrastructure enhancements and generate more good-paying jobs for the people of Lubbock, and I look forward to working alongside the Lubbock Economic Development Alliance to continue bringing greater economic opportunities and investment to West Texas.”
“While Texans persevere as COVID-19 wreaks havoc on our state, we must take steps to ensure that our communities are equipped to weather the storm,” said Senator John Cornyn. “I applaud this announcement and will continue to do everything I can to make economic growth in Lubbock a high priority.”
This project was made possible by the regional planning efforts led by the South Plains Association of Governments (SPAG). EDA funds SPAG 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 the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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.