WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding $1.65 million in grants to the State of South Dakota to support existing industry, and to help attract new businesses and jobs to the State. The projects are expected to create more than 165 jobs and spur more than $230 million in private investment according to grantee estimates.
“We’ve seen it proven time and again – a strong infrastructure allows local businesses to flower and thrive,” said Secretary of Commerce Wilbur Ross. “These investments will help spur new businesses growth and job creation throughout South Dakota.”
The EDA investments announced today are:
- The city of Lake Norden will receive $969,000 to improve its drinking water system and water treatment facility to enable a major manufacturer to expand its production facilities and to attract new business ventures. The project is expected to help create 125 jobs and spur more than $220 million in private investment according to the City. This project was made possible by the regional planning efforts led by the First District Association of Local Governments.
- The North Sioux City Economic Development Corporation will receive $686,586 to make access road and water system improvements needed to open fifteen acres in the Flynn Business Park for new development and to help existing companies expand operations. The project is expected to help create or retain more than 40 jobs and generate $12.8 million in private investment according to the grantee. This project was made possible by the regional planning efforts led by the South Eastern Council of Governments.
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 as well as 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.