FOR IMMEDIATE RELEASE
Thursday, May 28, 2009
CONTACT OFFICE OF PUBLIC AFFAIRS
U.S. Commerce Secretary Gary Locke Announces $19.5 Million More for Ike/Gustav Recovery Efforts
U.S. Commerce Secretary Gary Locke today announced an additional $19.5 million in Economic Development Administration (EDA) investments to aid the ongoing economic recovery following the devastation caused last year by hurricanes Ike and Gustav.
Last week, the Obama Administration announced $20.9 million of investments for the Gulf Coast region to assist in the recovery.
“The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation’s competitiveness,” Locke said. “Hurricanes Ike and Gustav devastated the Gulf Coast region. These investments will enhance the region’s competiveness, improve productivity and create jobs.
“These grants show President Obama’s continued commitment to working with the Gulf Coast region to assure that the business community is rebuilt and critical jobs are restored.”
The investments announced today include:
- $10 million for the Texas Medical Branch at Galveston to help create jobs and boost private investment by making building improvements needed to increase the efficiency and productivity of the university’s biomedical incubator.
- $4 million for the Port of Orange to aid economic recovery by developing a trans-modal containerized logistics area. The grant will facilitate the transfer of containers onto barges as products are prepared for export and will provide tremendous cost savings by reducing transportation costs. The project is expected to save or create more than 50 jobs in the region, according to grantee estimates.
- $3 million for the Trinity Bay Conservation District of Anahuac, Texas, to spur economic recovery by building the infrastructure needed to develop the Interstate Highway 10 industrial corridor.
- $2.5 million for Nassau Bay, Texas, to build the infrastructure needed to develop the Nassau Bay town square commercial center, which will attract new industry and jobs. The project is expected to create 495 jobs and generate $150 million in private investment, according to grantee estimates.
The Department of Commerce is a voice for Main Street businesses. It focuses on creating jobs by fostering innovation and opening markets to U.S. products. Locke is a key member of President Barack Obama’s economic team.
EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States.Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and 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.