The U.S. Secretary of Commerce Gina Raimondo on Tuesday announced the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the Stuttgart Industrial Development Corporation for water infrastructure improvements to support job growth in the region.
This grant aims to expand the water and sewer services at Stuttgart Industrial Park to support manufacturing business growth. The EDA investment will be matched with $515,013 in local funds and is expected to create 54 jobs and generate $79 million in private investment, according to grantee estimates.
“This EDA investment will provide the water and sewer services needed to support manufacturing business growth, spurring private investment and creating jobs for a stronger regional economy,” Raimondo said in a press release.
This project was made possible by the regional planning efforts led by the Southeast Arkansas Economic Development District (SEAEDD). EDA funds SEAEDD in hopes 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.
The EDA aims to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. It invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation and accelerate long-term sustainable economic growth.
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