10/14/2021 | Press release | Distributed by Public on 10/14/2021 13:39
WASHINGTON - Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department's Economic Development Administration (EDA) is awarding a $2.9 million CARES Act Recovery Assistance grant to the city of Farmersville, Texas, to build new fiber optic broadband infrastructure to support businesses and residents. This EDA grant will be matched with $727,203 in local funds.
"Broadband is essential to supporting economic growth, job creation, and improved education, health care, and public safety," said Secretary of Commerce Gina M. Raimondo. "President Biden and his administration are working tirelessly to bring high-speed broadband service to all Americans, and this EDA investment will provide Farmersville with the fast, reliable internet service they need to attract and retain new businesses, strengthening the regional economy."
"The Economic Development Administration plays a vital role supporting communities as they build vital infrastructure to help grow and fortify their economies," said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. "The fiber optic broadband infrastructure will expand access to high-speed internet to Farmersville, providing new opportunities for businesses as they work to build back better in the wake of the coronavirus pandemic."
"Fiber optic broadband is critical to the continued development and innovation of the Texas economy," said Governor Greg Abbott. "Thank you to the Economic Development Administration for their grant to help expand high-speed internet for the people of Farmersville, bringing greater economic opportunities and investment to the Farmersville community."
"While Texans persevere as COVID-19 wreaks havoc on our state, we must take steps to ensure that our communities are equipped to weather the storm," said Senator John Cornyn. "I applaud this announcement and will continue to do everything I can to make economic growth in Farmersville a high priority."
This project was made possible by the regional planning efforts led by the North Central Texas Council of Governments (NCTCOG). EDA funds NCTCOG 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.
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau's flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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 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.