Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to Union County, Arkansas, to make railroad and other infrastructure improvements at the El Dorado Industrial Park.
This project will construct railroad spurs and a cross-docking facility to support manufacturing business growth in the industrial park. This EDA investment will be matched by $370,000 in local funds and is expected to create 125 jobs, retain 25 jobs, and generate $14.8 million in private investment, according to grantee estimates.
“President Biden is committed to supporting communities as they build a better America,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in the El Dorado Industrial Park will provide new opportunities for industrial businesses to expand and grow, strengthening the regional economy.”
“The Economic Development Administration works closely with local communities to provide strategic investments to support economic growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This project will provide critical infrastructure to support businesses, creating manufacturing and other industrial jobs for the community.”
“This grant signals El Dorado’s continued and growing value as a link in Arkansas’s economy and its importance to the nation’s infrastructure,” said Governor Asa Hutchinson. “El Dorado’s story is one of success, but its leaders have never rested and continue to chase economic success.”
“Investment in our local infrastructure is pivotal for the continued economic growth of El Dorado and the surrounding areas,” said Congressman Bruce Westerman (AR-04). “I am glad to see the Economic Development Administration work with Arkansas communities to support businesses and families, and I look forward to a continued partnership between Union County and the EDA resulting in new opportunities for investment.”
This project was made possible by the regional planning efforts led by the Southwest Arkansas Planning and Development District (SWAPDD). EDA funds SWAPDD 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.
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.