Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.5 million CARES Act Recovery Assistance grant to the Bowie Economic Development Corporation, Bowie, Texas, to undertake infrastructure improvements and construct a spec building at the Bowie Business Park. This EDA grant, to be matched with $365,000 in local funds, is expected to create 8 jobs and generate $800,000 in private investment.
“President Biden is committed to providing the full power of the federal government to ensure our nation not only recovers from this pandemic, but builds back stronger,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in the Bowie Economic Development Corporation will provide improvements to attract new businesses to the Bowie Business Park, leading to additional jobs and private investment.”
“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. “The infrastructure improvements provided through this EDA investment will expand and improve access to the Bowie Business Park and construct a 10,000-square foot spec building, providing new opportunities for businesses in the community.”
“Thank you to the Economic Development Administration for awarding this $1.5 million grant to the Bowie Economic Development Corporation to improve the Bowie Business Park and expand business opportunities in the community,” said Governor Greg Abbott. “As communities across Texas grow and develop, this investment will continue to spur new economic opportunity and jobs for the people of Bowie.”
“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 across Texas a high priority.”
This project was made possible by the regional planning efforts led by the Nortex Regional Planning Commission (NRPC). EDA funds NRPC 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.