Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.7 million grant to the city of Oregon, Ohio, to help attract new businesses to the region by expanding the Cedar Point Industrial Park. This grant, to be matched with $679,179 in local funds, is expected to help generate $905 million in private investment.
“Unlike many politicians before him, President Trump is fulfilling his promise to America’s coal workers by providing them with the tools necessary to thrive,” said Secretary of Commerce Wilbur Ross. “The improved infrastructure from this project will provide 42-acres of new, developable land to attract business and diversify the local economy.
“This project will make the critical roadway and sewer infrastructure improvements that the city needs to bring in new businesses to the Cedar Point Industrial Park,” said U.S. Assistant Secretary of Commerce for Economic Development Dr. John Fleming. “The enhancements to the industrial park, which includes a foreign trade zone, are expected to attract a major clean energy company that will build on the region’s emerging energy cluster.”
“We appreciate the Trump administration’s investment in this project,” said Governor Mike DeWine. “Additional infrastructure investment strengthens the foundation to grow Ohio’s economic prosperity in the region.”
“Congratulations to the City of Oregon’s leadership for designing a successful EDA grant proposal that supports regional economic development,” said Representative Kaptur. “Economic changes over the past few decades have directly impacted our district and state. As such, significant investment in future economic development is critical. This grant award will help to pave the way to develop new businesses in the community and assist in efforts to create new opportunities for workers in growing sectors.”
This project is funded under the Assistance to Coal Communities (ACC) program, through which EDA awards 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.