The investment will help build infrastructure needed to expand the Port Authority’s industrial park. The investment is expected to create 200 jobs and generate $60 million in private investment.
“America’s competitiveness and innovation flourish in vibrant, economically growing communities that are creating jobs and opportunities,” said Gutierrez. EDA serves as a venture capital resource to meet the economic development needs of distressed communities throughout the United States. EDA’s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy.
Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.