Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.8 million grant to the city of Coral Springs, Florida, to make improvements to better manage storm water at the 442-acre Corporate Park business area. This EDA grant will be matched with $1.97 million in local investment, and is expected to help create 70 jobs, retain 217 jobs, and generate $7.35 million in private investment.
“The Trump Administration has worked hard to help affected Florida communities recover from the devastation of Hurricane Irma in 2017,” said Secretary of Commerce Wilbur Ross. “This project will protect businesses in the Corporate Park from future extreme weather, and make local industry and business more resilient.”
“Since I’ve taken office, we have made hurricane preparedness and recovery a top priority and I appreciate the strong support from our federal partners in these efforts,” said Governor Ron DeSantis. “This storm water mitigation grant will help provide for the long-term economic success of Coral Springs and allow Corporate Park to expand and attract businesses without the fear of losing investment due to intense weather.”
“Throughout my time as Florida’s Governor, I learned how important it is to look back after every storm and see what we can do to better help our communities prepare and quickly recover from disasters,” said Senator Scott. “EDA’s $2.8 million investment will help protect the Coral Springs community from flooding concerns for decades to come, while also adding jobs for local families.”
“I applaud the work by the Department of Commerce to invest in our infrastructure to better prepare our cities for hurricane season, and create dignified work to uplift our local communities,” said Senator Rubio.
The project will help Coral Springs better respond to and recover from intense flooding conditions caused by severe storms, while enhancing the city’s ability to grow its target industry clusters at the Corporate Park. This project was made possible by the regional planning efforts led by the South Florida Regional Planning Council. EDA funds South Florida Regional Planning Council 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 Bipartisan Budget Act of 2018 (PL 115-123) (PDF), in which Congress appropriated to EDA $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) funds for disaster relief and recovery as a result of Hurricanes Harvey, Irma, and Maria, wildfires and other calendar year 2017 natural disasters under the Stafford Act.
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.