Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $845,000 grant to the Town of Albany, Louisiana, to make water infrastructure improvements needed to serve local sawmill and other businesses. The grant, to be matched with $241,235 in local investment, is expected to generate $2 million in private investment.
“President Trump is committed to helping communities across the nation develop the critical infrastructure they need to support business development and growth,” said U.S. Assistant Secretary of Commerce for Economic Development Dr. John Fleming. “Boosting the capacity of the local water infrastructure will allow Albany to support additional commercial growth.”
This project will expand Albany’s wastewater treatment facility to accommodating business growth toward I-12 and major sawmill production facilities. This project was made possible by the regional planning efforts led by the Capital Region Planning Commission (CRPC). EDA funds CRPC 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 Bipartisan Budget Act of 2018 (PL 115-123) (PDF) (PDF), in which Congress appropriated to EDA $600 million in additional Economic Adjustment Assistance (EAA) Program (PDF) funds for disaster relief and recovery as a result of Hurricanes Harvey, Irma, and Maria, wildfires, and other calendar year 2017 natural disasters under the Stafford Act.
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.