Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $820,000 grant to the City of Carrollton to provide infrastructure improvements needed to support manufacturing and other business growth. According to grantee estimates, the project is expected to create 121 jobs and spur $268 million in private investment.
“We commend the City of Carrollton for their locally-driven efforts to provide infrastructure that regional manufacturers and other businesses require for expansion,” said Deputy Assistant Secretary for Regional Affairs Dennis Alvord. “This project will ensure that Carrollton remains a key piece of the region’s steel economy, while attracting new businesses.”
This investment will provide critical sewer line improvements needed to assist with the expansion of a steel processing plant and other local manufacturers. This project was made possible by the regional planning efforts led by the Kentucky River Area Development District. EDA funds the Kentucky River Area Development District 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.
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.