11/04/2020 | Press release | Distributed by Public on 11/04/2020 12:20
WASHINGTON - Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department's Economic Development Administration (EDA) is awarding a $1.9 million grant to Grandview Doolin Public Service District, Proctor, West Virginia, for water infrastructure that will provide potable water service to industrial customers in Marshall County. The EDA grant, to be located in a Tax Cuts and Jobs ActOpportunity Zone, will be matched with $1.3 million in local investment and is expected to spur $135 million in private investment.
'The Trump Administration is working tirelessly to champion areas around the country that have been adversely impacted by the closures of coal-fired power plants,' said Secretary of Commerce Wilbur Ross. 'This project will support existing businesses and diversify the local economy by opening an additional 200 acres in a Marshall County Opportunity Zone for industrial development.'
'EDA encourages investment in Opportunity Zones to foster public/private partnerships needed to drive investment to distressed communities,' said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. 'By extending water service and fire protection, this project encourages economic growth and will attract transformative investment to an Opportunity Zone.'
'Creating jobs and opportunities across West Virginia is a top priority of mine, and I am pleased to see the EDA investing in Marshall County,' said Senator Joe Manchin. 'In April I supported this project application, and now this funding will support infrastructure upgrades that will help industrial users in the area retain and create approximately 75 jobs, leverage more than $100 million in private follow-on investment, and allow for the development of additional commercial and industrial sites. West Virginia and our federal partners must continue investing in infrastructure projects like this to attract new companies and grow existing businesses in our state. I will continue working with the EDA and other agencies to ensure West Virginia continues to see infrastructure investments.'
'West Virginians deserve access to clean water and reliable infrastructure to deliver it to our homes and businesses,' said Senator Shelley Moore Capito. 'Investments like this from the EDA help make these improvements, while also spurring economic development and improving the lives of West Virginians. As chairman of the Senate Environment and Public Works Subcommittee on Transportation and Infrastructure, I have fought to ensure West Virginia receives the support we need to improve our infrastructure both above and below the ground. EDA has been a steadfast partner in this mission, and I am grateful for their continuous support to our state. This project will help fuel local economies by utilizing Opportunity Zones, and I look forward to its implementation in Marshall County.'
This project is funded under the Assistance to Coal Communities (ACC) program, through which EDA will award funds on a competitive basis to assist communities severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development, and re-employment opportunities.
The funding announced today goes to one of West Virginia's 55 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 webpage. To learn more about Opportunity Zone best practices, see the recently released White House Opportunity and Revitalization Council Report (PDF) to President Trump.
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.