Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding an $8.35 million CARES Act Recovery Assistance grant to the city of Tracy, California, to make transportation infrastructure improvements needed to support the growth of business in a local industrial park. This EDA grant, to be matched with $2.1 million in local investment, is expected to create 2,145 jobs, retain 6,734 jobs, and generate $459 million in private investment.
“President Biden is committed to helping our cities obtain 21st century investments in infrastructure as they recover from the pandemic and build back stronger,” said Secretary of Commerce Gina Raimondo. “This EDA investment in Tracy will enhance supply chain movement for local business, allowing industry to thrive and stimulating job growth.”
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and resiliency efforts,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This project will replace and expand the International Parkway Bridge over the Delta Mendota Canal to relieve a chokepoint that currently limits access to the essential industries of the International Park of Commerce.”
“This CARES Act assistance will accelerate economic growth and mobility in Tracy, creating thousands of jobs and helping businesses thrive by shoring up the supply chain,” said Governor Gavin Newsom. “California is grateful for the Biden Administration’s commitment to transforming our infrastructure with unparalleled supports as we work to recover from the pandemic stronger than before.”
“This EDA grant will help Tracy build back better and ensure an equitable recovery from the devastating economic impacts of the COVID-19 pandemic,” said Senator Alex Padilla. “It’s a smart investment that will help strengthen our transportation infrastructure, create thousands of new jobs, and support long-term business growth in the region.”
“Creating more than 2,000 new jobs, retaining more than 6,500 jobs, generating more than $450 million in investments, that’s a win-win-win to me,” said Congressman Josh Harder (CA-10). “This is exactly the kind of infrastructure investments we should be making. I’m incredibly excited we locked in these resources for Tracy.”
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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.