Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the Port of Camas-Washougal, Washougal, Washington, to make critical infrastructure improvements needed to establish an industrial workspace for use by local manufacturing firms. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $2.5 million in local funds and $1.4 million in state funds, and is expected to create 130 jobs and spur $10.6 million in private investment.
“The Trump Administration is committed to helping American communities obtain the modern infrastructure they need to encourage business attraction and growth,” said Secretary of Commerce Wilbur Ross. “This project will provide the Port of Camas-Washougal with the infrastructure it needs to simultaneously enable local manufacturers to expand and transform its Opportunity Zone as well as drive additional investment to the region.”
“EDA is proud to support local efforts to improve infrastructure to spur new business growth,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “EDA investments in Opportunity Zones enhance the return on investment for business interests and encourage the public/private partnerships critical to driving private investment and new jobs to cities like Washougal.”
“Yet another reason I supported the Tax Cuts and Jobs Act was because it established Opportunity Zones like the one that’s bringing 130 new jobs and $10 million in private investment to Washougal,” said Congresswoman Jaime Herrera Beutler (WA-03). “Job creation has always been my top priority, so I’m grateful to the Department of Commerce for targeting the tools Congress provided through the 2017 tax cuts bill in support of the Port of Camas-Washougal’s effort to bring more manufacturing jobs here.”
The funding announced today goes to one of Washington’s 139 Opportunity Zones. Created by President Donald J. Trump’s Tax Cuts and Jobs Act of 2017, Opportunity Zones are spurring economic development in economically-distressed communities nationwide. In June 2019, EDA added Opportunity Zones as an Investment Priority, which increases the number of catalytic Opportunity Zone-related projects that EDA can fund to fuel greater public investment in these areas. To learn more about the Commerce Department’s work in Opportunity Zones, please visit EDA’s Opportunity Zones webpage. To learn more about the Opportunity Zone program, see the Opportunity Now resources webpage. To learn more about Opportunity Zone best practices, see the recently released White House Opportunity and Revitalization Council Report (PDF) to President Trump.
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.