June 7, 2022

EDA: $3.4 Million Invested to Support Diversified Business and Job Growth in Georgetown, SC

Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3.4 million grant to Georgetown, South Carolina, for water treatment plant upgrades needed to stimulate business and job growth.

This project will provide the modern infrastructure needed to support local business needs and attract new, diversified businesses interests to a region impacted by fluctuations in the energy economy. This EDA grant will be matched with $857,000 in local funds.

“President Biden is committed to supporting communities as they seek to grow and diversify their economies,” said Secretary of Commerce Gina M. Raimondo. “This EDA grant will provide for increased business and job opportunities in a community impacted by fluctuations in the energy economy, creating a more diverse and resilient regional economy.”

“Economic Development Administration investments play an important role in advancing locally-led economic development strategies that drive critical business expansion efforts to create stronger, more resilient regional economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will enhance local water infrastructure to support current and future business needs.”

“Economic development grants play a crucial role in diversifying economies throughout the 7th District,” said Congressman Tom Rice (SC-07). “Georgetown will greatly benefit from infrastructure improvements to their water treatment plant that are sure to help existing businesses and attract new businesses to the region.”

This project was made possible by the regional planning efforts led by the Waccamaw Regional Council of Governments (WRCOG). EDA funds WRCOG 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 Assistance to Coal Communities (ACC) initiative, through which EDA awards funds on a competitive basis to assist communities severely impacted by the declining use of coal. ACC projects support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.

This award is a great example of what communities can do under EDA’s new American Rescue Plan programs; particularly the $300 million Coal Communities Commitment. This investment will ensure that coal communities have the resources they need to recover from the pandemic and will help create new jobs and opportunities, including through the development or expansion of a new industry sector.

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.