Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

EDA Economic Development Administration : U.S. Department of Commerce Invests $500,000 to Improve Critical Infrastructure in Excelsior Springs, Missouri Opportunity Zone

06/22/2020 | 02:32pm EDT

WASHINGTON - Today, the U.S. Department of Commerce's Economic Development Administration (EDA) is awarding a $500,000 grant the city of Excelsior Springs, Missouri, to improve critical roadway and sewer infrastructure to accommodate new business development. The EDA grant project, to be located in a Tax Cuts and Jobs ActOpportunity Zone, will be matched with $400,000 in state funds and $100,000 in local funds, and is expected to generate $4.5 million in private investment.

'The expansion of roadways and relocation of sewer lines will directly support new economic development opportunities in northwest Missouri,' said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. 'In addition, the project's location in an Opportunity Zone will drive additional private investment to the area, boosting the local economy.'

This project was made possible by the regional planning efforts led by the Mid-America Regional Council, which EDA funds to help 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 funding announced today will serve one of Missouri's 161 Opportunity Zones. Created by President Donald J. Trump's Tax Cuts and Jobs Act of 2017, Opportunity Zones are spurring economic development in economically-distressed communities nationwide. In June 2019, EDA added Opportunity Zones as an Investment Priority, which increases the number of catalytic Opportunity Zone-related projects that EDA can fund to fuel greater public investment in these areas. To learn more about the Commerce Department's work in Opportunity Zones, please visit EDA's Opportunity Zones webpage. To learn more about the Opportunity Zone program, see the Opportunity Now resources page here.

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.

Disclaimer

EDA - Economic Development Administration published this content on 22 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2020 18:31:04 UTC


© Publicnow 2020
Latest news "Economy & Forex"
05:57pU.S. gas stations still shut, prices at 7-yr high in slow recovery from cyberattack
RE
05:52pU.S., Canadian trade chiefs air concerns ahead of USMCA trade deal meeting
RE
05:51pTESLA  : Stocks fall as tech shares weigh; gold rises to more than 3-month high
RE
05:51pUtilities Down As Investors Rotate Into Inflationary Sectors -- Utilities Roundup
DJ
05:48pBitcoin posts record weekly outflows as gains stall -CoinShares data
RE
05:48pMelting of Greenland ice may accelerate as glaciers get shorter - study
RE
05:48pCommunications Services Down As AT&T, Discovery Slide On Deal Announcement -- Communications Services Roundup
DJ
05:40pTech Down As Rotation Out Of Sector Resumes -- Tech Roundup
DJ
05:37pUK ministers considering contingency plans for local lockdowns -the Times
RE
05:30pFinancials Up Amid Optimism About Elevated Treasury Yields -- Financials Roundup
DJ
Latest news "Economy & Forex"