April 12, 2022

EDA: $2 Million Invested to Help Establish New Business Park in Kewaunee, WI

Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Kewaunee, Wisconsin, for water and sewer infrastructure to support the construction of a new 30-acre business park, which is being implemented to help offset the region’s economic injury due to the closing of the Kewaunee Power Station.

This project will allow Kewaunee to attract new businesses and help existing commercial and industrial users expand their operations. This EDA investment will be matched with $488,308 in local funds and is expected to create 31 jobs, retain 10 jobs and generate $2.7 million in private investment.

“President Biden is committed to supporting local efforts to create new opportunities and jobs in communities impacted by nuclear plant closures,” said Secretary of Commerce Gina M. Raimondo. “This investment will lay the groundwork for Kewaunee to develop a new business park that will attract businesses that can diversify the regional economy.”

“The Economic Development Administration is pleased to support the city of Kewaunee’s strategy to grow the local economic base through infrastructure improvements designed to attract businesses and promote job growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This investment will provide access road, water and sewer upgrades needed to broaden and grow the local economy following the closure of the Kewaunee Power Station, ensuring the region’s future economic resiliency.”

“Investing in Wisconsin businesses is essential for bolstering our local economies – and that’s why assistance for our businesses and our workers has been such a significant part of our economic recovery efforts over the last two years,” said Governor Tony Evers. “This grant will allow the city of Kewaunee to leverage the power of their existing business community, attract new businesses to the area, and create jobs to continue revitalizing the local economy and build economic prosperity for the entire community.”

“This federal investment from the Biden administration will help create economic opportunity and good paying jobs for a community that was devastated by the closure of the Kewaunee Power Station,” said Senator Tammy Baldwin. “This federal funding will build the infrastructure needed for the businesses park to attract companies and grow the local economy, and I am excited to see this investment help move Kewaunee’s economy forward.”

This project is being funded under EDA’s Assistance to Nuclear Closure Communities program. Closures of nuclear power plants throughout the United States have had a significant impact on the economic foundations of surrounding communities through sudden job losses and a reduction to the local tax base. EDA has a strong history of working with communities facing structural economic adjustments, including those impacted by nuclear power plant closures. In FY 2020, EDA is deploying $15 million appropriated to the agency to support communities impacted by nuclear plant closures.

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.

This post was originally published here.